Connect with us

Press Releases

Survey: Strong US Silver Jewelry Sales Continued in 2019

Silver jewelry maintains highest margins and turnover rate.

mm

Published

on

(PRESS RELEASE) Silver jewelry sales in the United States were strong in 2019 with 59% of jewelry retailers again reporting increased sales according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS). The results also confirmed that silver jewelry continues to be a leading merchandise category for retailers, both in driving sales and providing margin.

Highlights from the 2019 survey include:

  • 55% said silver jewelry experienced the best inventory turnover rate in 2019; 22% said diamonds; 13% said gold and 10% bridal.
  • Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 29% of their unit volume and 21% of their dollar volume.
  • The average store growth in 2019 for silver jewelry sales was 12%.
  • 54% of retailers said that they increased their silver jewelry inventory in 2019.
  • The best-maintained margins during the Holiday Season were:
  1. Silver Jewelry 54%
  2. Diamond Jewelry 16%
  3. Bridal Jewelry 14%
  4. Gold Jewelry 12%
  5. Platinum Jewelry 4%
  • The age group buying the most silver jewelry is 20-40 according to 63% of the retailers.
  • 91% of retailers say they are optimistic that silver jewelry sales will continue to grow.

SPS Director Michael Barlerin commented, “The Silver Promotion Service is gratified by what the survey demonstrated. We are also enthused that the optimism for silver’s ongoing performance remains so strong and has continued for so many years.” The survey, conducted by INSTORE, was fielded in February this year. This was the 11th consecutive year that SPS has commissioned such a survey.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

Promoted Headlines

Most Popular