Connect with us

Press Releases

Survey Shows 9th Consecutive Year of Silver Jewelry Sales Growth

mm

Published

on

Silver jewelry maintains highest margins and turnover rate.

(Press Release) NEW YORK — Silver jewelry sales in the U.S. were strong in 2017, with 59 percent of jewelry retailers 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 2017 survey include:

The average store growth in 2017 for silver jewelry sales was 17 percent.

Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 36 percent of their unit volume and 29 percent of their dollar volume.

57 percent said silver experienced the best inventory turnover rate in 2017; 19 percent said diamond; 12 percent said both bridal and gold.

The best-maintained margins during the holiday season were:

Advertisement
  • Silver jewelry, 51 percent.
  • Bridal jewelry, 18 percent.
  • Diamond jewelry, 15 percent.
  • Gold jewelry, 13 percent.
  • Platinum jewelry, 3 percent.

93 percent of retailers say they are optimistic that silver jewelry sales will continue to grow.

SPS Director Michael Barlerin commented, “The Silver Promotion Service is obviously gratified by what the survey demonstrated. We are also grateful that the optimism for silver’s ongoing performance remains so strong.”

The survey, conducted by INSTORE, was fielded in February this year. This was the ninth consecutive year that SPS has commissioned such a survey.

The Silver Promotion Service was introduced in 2008 by the Washington, DC-based Silver Institute. The objective of the SPS is to develop and implement programs designed to enhance the image of and stimulate demand for silver jewelry in major international markets. For more information on the SPS, visit www.savorsilver.com.

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

A Liquidation Sale during a Pandemic? Wilkerson Showed Them the Way

For 25 years, Stafford Jewelers of Cincinnati, Ohio, was THE place to go for special gifts, engagement diamonds, high-end Swiss watch brands — in other words, the crème de la crème of fine jewelry. But this summer, the Stafford family was ready to retire. So, they chose Wilkerson to help them close up shop. “One of the biggest concerns was having the sale in the middle of COVID,” says Director of Stores Michelle Randle. Wilkerson gave the Stafford team plenty of ideas as well as safety guidelines, which they closely followed. “All of the employees felt safe, the customers coming in the door felt safe and we did a lot of business,” says Randle. How much business? “The inventory flew,” she says. Translation: They sold millions and millions of dollars-worth of merchandise. Randle calls it, “an incredible experience.” Would she recommend Wilkerson to other retailers who are thinking of thinning their inventories or retiring? “Everyone got more than what they expected out of the sale. You have to hire Wilkerson. They’re amazing.”

Promoted Headlines

Most Popular