Headlines

Silver Jewelry Is Surging: Are You Cashing In?

Published

8 years ago

April 7, 2016

INSTORE Staff

Retailers reporting growth in the category.

Silver jewelry sales remained strong in 2015 with 60 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 of the survey show that silver jewelry continues to be an important category for many retailers, both in driving sales and providing margin.

Highlights from the 2015 survey include:

The average growth in 2015 for silver jewelry sales was 15 percent.

Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 35 percent of their unit volume and 27 percent of their dollar volume.

Forty-five percent of retailers said silver experienced the best turnover rate in 2015 followed by diamond jewelry at 22 percent, bridal at 17 percent, and gold and platinum at 4 percent.

Eighty-seven percent of retailers say they are optimistic that the current silver surge will continue.

“The Silver Promotion Service was obviously gratified by what the survey demonstrated,” says SPS Director Michael Barlerin. “Silver’s outstanding performance was the result of multiple inter-related factors, including the fact that 57 percent of retailers reported they had increased their inventory on average of 21 percent.”

The survey, conducted by National Jeweler/Jewelers of America, was fielded in February and March of this year. This was the seventh consecutive year that SPS has conducted such a survey.

The Silver Promotion Service, introduced in 2008 by the Silver Institute, aims to develop and implement programs designed to enhance the image of and stimulate demand for silver jewelry in major international markets.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”