If you’re in retail or wholesale of fashion accessories, pay attention to jewelry and watches. They’re the big sellers. Together, they're worth about $72.86 in 2023.

This includes everything, from affordable fashion pieces to luxury items, for men and women.

Specifically in the US, jewelry retail sales reached $91.5 billion in 2022, which is $5 billion more than in 2021. This shows the market is booming.

Not just jewelry, watches, especially Swiss-made ones, are also in high demand.

Their exports rose by 14% in June 2023 compared to June 2022, with a total wholesale value of around $2.83 million.

And with the US being the top exporter, it’s clear that there's a strong market for these Swiss watches in America.

So, if you're selling or planning to sell jewelry, watches, or both, there's good profit potential.

The key is to know what your customers want and what's trending in both categories.

What Type of Jewelry is Most Profitable?

Here’s the scoop on what’s selling:

• Rings: They’re a big deal, grabbing a huge 33.7% in 2022. Think everything from casual fashion rings to big-ticket items like engagement and wedding bands.
• Necklaces & pendants: It's all about options here. Whether it's a delicate chain, a statement stone pendant, a chic choker, or a trendy lariat, people are all over them.
• Earrings: Popular earring styles include dangle, hoop, and stud earrings.
• Bracelets: There's a good market for bangles, cuffs, beaded, tennis, and charm bracelets.

You've got two main lanes: fashion jewelry, which is more about style without breaking the bank, and fine jewelry, where you're talking real gold, silver, and gems like amethyst, opal, etc.

And if you're curious about the most popular jewelry colors, gold and silver are at the top, with silver often selling more than gold.

Besides, shades of pink, green, and blue are also trending, especially in gemstone pieces.

Now, let’s look at a niche not every business owner knows about yet: men’s jewelry. It has a lot of growth potential.

Men's Jewelry: The Next Big Thing for Businesses in Accessories Market

Jewelry is no longer exclusive to women; it's now becoming a big part of men's fashion — thanks to the influence of social media.

Today, men’s accessories are not limited to those traditional cuff links or tie clips.

Men are actively seeking and wearing a wide range of jewelry items like necklaces, earrings, bracelets, and rings.

The evidence can be seen in the data from shopping platforms, which show a notable increase in searches for all these items.

For both retail and wholesale businesses, this presents a golden opportunity.

Men's jewelry is a rapidly growing market segment with tremendous profit potential. By recognizing and embracing this trend, businesses can tap into a new and expanding customer base.

Now, let’s get to the second category: watches

What’s Selling in the Watch Segment?

Despite higher prices, watch lovers are still buying Rolex and Omega.

If you want to sell these brands in your store, you need to fill out an application to become their authorized dealer.

Additionally, it's worth noting that there's a growing market for more affordable watches.

Some good options include:

Strap watches: Available in a range of materials like leather, fabric, and rubber, strap watches offer versatility and comfort.

Chain watches: For a more classic or formal look, chain watches, particularly those with metal bracelets, are a popular choice.

Beyond traditional wristwatches, smartwatches have become a lucrative market segment. They're especially popular due to the rising interest in fitness among men, women, and children.

As of 2023, there are already 219.43 million smartwatch users globally, and this number is projected to rise to 230.85 million by 2028.

For businesses in the watch retail and wholesale market, this means a chance to cash in.

How to Buy Jewelry or Watches in Bulk?

Research Suppliers

Begin by researching wholesalers that specialize in the type of jewelry or watches you want to sell. You can find them through wholesale marketplaces or directories.

Check Product Quality & Authenticity

If you're buying fine jewelry, verify the authenticity of precious metals and gemstones. For fashion jewelry, assess the material’s quality and craftsmanship.

If it’s a wristwatch, check if the movement is automatic, manual, or quartz, as this affects maintenance requirements and accuracy.

The case material should be durable and resistant to scratches and corrosion. Stainless steel and titanium are popular choices.

If it’s a smartwatch, ensure it is compatible with a smartphone and has a long battery life. Plus, its display is sharp and easy to read.

Also look for other features like connectivity, health tracking, etc.

Keep in mind that the prices of wristwatches and smartwatches vary depending on their features and quality.

Get Info on Returns and Warranty

Before finalizing any bulk purchase, understand the supplier's return policy for defective or unsatisfactory items. A flexible return policy can be a safety net for your investment and ensures customer satisfaction.

Inquire about warranty coverage for watches or fine jewelry. This can be a selling point and a sign of trustworthiness.

Wedding Season: Boost in Jewelry and Watch Sales

During the wedding season, jewelry stores typically see a significant rise in sales. That’s because couples look for the perfect pieces to mark their special day.

Also, watch sales go up too. This is because it's a common tradition for the groom to receive watch as a gift from his friends and family.

Other Busy Times: Mother's Day, Valentine’s Day, and the Holiday Season

• People often buy jewelry for Mother's Day as a way to show love and thanks.
• On Valentine's Day, things like diamond rings and heart-shaped jewelry are really popular.
• During the holiday season, lots of people choose to give each other jewelry and watches as presents. These items are traditional and have a personal touch.