Shop LC Leaks Details on Traditional Retail Jewelry Supply Chain Markups and How to Avoid Them
Home shopping channel explains how your regular jewelry purchase might be costing you too much
AUSTIN, Texas, Nov. 9, 2021 /PRNewswire/ -- Jewelry is expensive. But does it have to be? Shop LC, a vertically integrated retailer of jewelry, explains how the supply chain adds excess cost to consumers.
UNDER $10 JEWELRY AT SHOP LC
"Providing the best value for money isn't that hard," explains Amit Agarwal, Shop LC President. "While materials like 14K gold can account for around 60 to 80 percent of an items cost, there are ways to improve affordability. For instance, Under $10 jewelry often uses a sterling silver base with a finish of gold, providing exceptional value while preserving the look of solid gold."
In the traditional manufacturing process for gemstone jewelry, a high markup occurs with gems themselves. From the miner to the mining company, to the wholesaler, to the cutting facility, markups are added along the way. Through vertical integration, the Shop LC parent company, Vaibhav Global Limited (VGL), sources gemstones from all over the world and cuts them in house with a team of 2500 artisans. Long standing strategic relationships keep these costs down.
"Jewelry markups vary widely. B2B markups can range from 40 to 60 percent depending on quality," says Agarwal. "At the majority of retail stores, this can go even higher – up to 400 percent. The standard amount is usually between 100 to 300 percent."
With every step of the process adding cost, many consumers can feel priced out of owning genuine gemstone jewelry. However, by keeping costs low with vertical integration, Shop LC offers sterling silver jewelry with genuine gems for under $10 every Friday, along with a selection of products for every taste.
For additional statistics, interviews, and more information, please contact Shop LC.
About Shop LC
Headquartered in Austin, Texas, Shop LC, is a wholly owned subsidiary of Vaibhav Global Ltd. (VGL), a vertically integrated company with global sourcing and manufacturing capabilities. Shop LC is a value-conscious, interactive retailer focused on the fine jewelry, beauty, fashion, home decor and lifestyle product categories. Established in 2007, Shop LC reaches approximately 73 million U.S. households via high-definition programming offered live 24 hours a day, seven days a week, 365 days a year. Additionally, every purchase provides a meal to a hungry child through the Your Purchase Feeds Program. For more information visit www.shoplc.com and download the interactive app on iTunes, Google Play or many other streaming devices or televisions.
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SOURCE Shop LC
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