Silver jewellery demand grew by 59%

Jewelry retailers in the United States described strong silver jewelry sales last year, with 59% reporting increased sales in 2017, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS).

 

The results also showed that silver jewelry continues to be a leading merchandise category for retailers, especially in driving sales when compared to other precious metals. According to the highlights from the 2017 survey includes, 1: The average store growth for silver jewelry sales was 17%.

 

2: Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 36% of their unit volume and 29% of their dollar volume, 3: 57% said silver experienced the best inventory turnover rate in 2017; 4: 19% said diamond & 5: bridal and gold each accounted for 12%.

 

The best maintained margins during the holiday season were: A: Silver Jewelry 51%, B: Bridal Jewelry 18%, C: Diamond Jewelry 15%, D: Gold Jewelry 13% & E: Platinum Jewelry 3%. The age group buying the most silver jewelry is 20-40, according to 47% of the retailers. The 41-50 age group was second.

 

Retailers said the best-selling opportunity with silver is female self-purchase. 93% of retailers say they are optimistic that silver jewelry sales will continue to grow. SPS Director Michael Barlerin commented, “Among other positive factors leading to these results, there is a growing awareness within the industry that silver jewelry is the ultimate female self-purchase product and retailers are increasingly promoting it accordingly.”

 

 

  • Silver jewellery demand grew by 59%