The ingenious invention form over two centuries ago that is the wristwatch proves itself practical until modern times. Although watch sales went downhill around the early 2000s, came the smart phones, watches made a comeback after almost a decade. Why is this so? Despite there are smart phones at our disposal, there are still many reasons why people still buy it for themselves and as gifts to loved ones. They're functional, convenient, stylish, collectible, and can serve as a status symbol and heirloom. But if you don't know how and where to start watch shopping, no worries, for we'll guide you on how to choose a watch. Also, we suggest that you should first be familiarized with the basics of watches, which will also be covered here in this article. Here is the steps: Step 1:Know About Types of Watch Movements Step 2:Figure out Watch Styles Step 3:It is time to Choose A Watch Now Step 4:Best Places to Buy Watches Let's get started. Step1:Know About Types of Watch Movements A watch movement is the watch's engine that allows timekeeping as well as the watch's other complications to function. There are two types of watch movements, namely quartz and mechanical. And there are two types of mechanical movements, which are manual and automatic. Types of Watch Movements <br style="box-sizing: border-box; color: #2b2b2b; font-f
So you’ve decided to start a retail business by creating an eCommerce watch brand. Good idea, as this kind of business gives you a huge demographic including males and females of all ages. Not to mention watches’ rising popularity.
Starting up a retail business through eCommerce can be exciting and promising. You get to make money on your own terms as your own boss. For your business to be successful, it is vital to have an excellent plan that is thoroughly thought of. And one of the first essential things to consider is the supplier or watch vendor, in other words.
A watch vendor is your business partner that can help you kickstart your business as well as maintain your business in the long run. A good watch vendor is one that is suitable for your business model. You may wonder, “What is a business model?” We’ll touch on that later in this article.
You may also be clouded with questions like:
“Where can you find watch vendors?”
“How can you tell which is the best one?”;
“How can you contact them?”
“What about scams, and how can you avoid them?”
“Is it possible for a watch vendor to customize a watch according to your ideas for your own brand?”
No worries, for we’ve got you covered with the low-down on finding the perfect watch vendor for you.
What Is Your Business Model
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Before anything else, you need to come up with your business model. Once you’ve got that figured out, you can narrow down your choices in your search for a watch vendor to carefully select a suitable one for your startup business. So what is a Business model?
Simply put, a business model is like a blueprint for your business that points out the direction you’re going with your business. Comprising a business model is the products or services to be sold, which, in your case, are watches; how the products will be sold; the target market; the expenses required; and how to make income.
Choosing the Right Watch Vendors That Fit Your Business Model
Now, you know what a business model is. It’s also important to note that there are different business models. Each business model has its own advantages that can suit different retailers. And the perfect watch vendor, of course, is one that complies with your business model, e.g., dropshipping; wholesale; manufacturer; and private label.
Below, you can read about the corresponding suppliers for the different business models.
Brief Explanation of a Watch Dropshipper
A watch dropshipper stores the watches for the watch retailer, and once the watch retailer receives an order from a customer, the watch dropshipper ships the order directly to the customer. The watch dropshipper is to be notified with the necessary information to fulfill the delivery, which includes the customer’s order and shipping details.
Step by Step Procedure
On your preferred eCommerce platform, put up the watches you have for sale.
Once a customer purchases from you, you forward the order along with the shipping details to your supplier.
You pay your supplier the wholesale price of the watch that was sold, which is a fraction of the watch’s retail price. Also, there is likely a small dropshipping fee that your supplier will require you to pay.
As you’ve instructed your supplier, they package and ship the order to your customer.
Although you had nothing to do with the package, you are responsible for communication with the customer.
For first-timers new to eCommerce and just starting their own online store, the best way to go would be dropshipping. It is for the reason that in this business model, there is no need for you to invest a big amount of money for bulk goods that may not sell nor to have storage space for stock. All you need to do is place your products on the eCommerce platform and just standby for the sales. That being said, there is less risk and expense for sellers in the dropshipping business model.
The downside of the dropshipping business model, however, is the lower profit margins since you won’t have the convenience of the discounts when purchasing in bulk, and there’s also the high per-item cost.
Moreover, there are two kinds of dropshippers. There are the “true” dropshippers and the pre-purchase dropshippers. “True” dropshippers are those who only ship items when you made a sale. This is the more convenient kind for its practicality, especially for a new business. Pre-purchase dropshippers, on the other hand, are those who require the pre-purchase of products.
However, you still won’t receive and stock products. The storage of products will still be done by the dropshipper. In this kind of dropshipping, you will pay a certain amount for your inventory, and once a customer orders it from you, it will be automatically shipped to your customer.
If you’re going for the dropshipping business model, make sure to chose a dropshipper with an arrangement that works