The Silver Institute’s Silver Promotion Service is promoting a new category of silver jewelry that reflects the growth and diversity of silver jewelry design and its importance to retailers, says Michael C. Barlerin, SPS director.
Eileen McClelland
—
Managing
editor at
INSTORE Magazine.
T
he Silver Institute’s Silver Promotion Service is promoting a new category of silver jewelry that reflects the growth and diversity of silver jewelry design and its importance to retailers, says Michael C. Barlerin, SPS director.
The category, called “Silver Style Partners,” showcases silver jewelry that’s textured, blended with other metals, or set with gemstones. Inaugural style partners include Belle Etoille, Geoffrey Scott, Joryel Vera, LJD, Martha Seely, Stephen Dweck and Sterling Silver from Taxco.
Information about style partners will be available on the SPS mobile website, savorsilver.com. Participants will be able to advertise in cost-efficient trade media programs, and to exhibit with other partners at trade shows to increase visibility.
Barlerin has said that the silver surge represents an acknowledgment in the trade that silver is a precious metal and is meeting the needs of a larger group of customers than it has in the past. It reflects the fact that white metals are extremely popular and that designers and manufacturers at all levels are taking it seriously.
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Silver jewelry can offer an exciting appearance at a great value, particularly as high-end manufacturers and fine jewelry brands continue to launch interesting lines. The SPS has also partnered with silver jewelry “designers of distinction” and branded manufacturers, Silver Mark Partners, with its Savor Silver program.
"Their silver jewelry is emblematic of what talented designers can do with this extraordinary precious metal," Barlerin has said. "It is one of the primary reasons for this truly extraordinary surge in silver sales."
Silver customers often demonstrate purchasing behavior that is far different from traditional fine jewelry customers. The silver customer tends to be a collector. So it’s important to offer variety and keep your silver selection fresh and to look for manufacturers and designers that offer a variety of styles.
Sixty percent of jewelry retailers reported increased sales of silver jewelry in 2015, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS). The results of that survey also confirmed that silver jewelry continues to be an increasingly important category for many retailers, both in driving sales and providing margin. Eighty seven percent of retailers are optimistic that this surge will continue. The survey, conducted by National Jeweler/Jewelers of America, was fielded in February and March.
The Silver Promotion Service was introduced in 2008 by the Silver Institute. Its purpose is to develop and implement programs designed to enhance the image of and stimulate demand for silver jewelry. In 2015, the Silver Promotion Service also partnered with Jewelers of America to work on the silver section of a recently updated “Jewelry 1010” training manual published by Jewelers of America.
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