The Conversation (0)
The Silver Institute reported that US silver jewelry sales were strong in 2015, with 60 percent of jewelry retailers reporting higher sales. Silver jewelry sales have now risen for seven years in a row, confirming that silver jewelry is an important category for many retailers.
The Silver Institute reported that US silver jewelry sales were strong in 2015, with 60 percent of jewelry retailers reporting higher sales. Silver jewelry sales have now risen for seven years in a row, confirming that silver jewelry is an important category for many retailers.
Other highlights from the survey include:
- The average growth in 2015 for silver jewelry sales was 15%;
- Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 35% of their unit volume and 27% of their dollar volume;
- 45% of retailers said silver experienced the best turnover rate in 2015, followed by diamond jewelry at 22%, bridal at 17%, gold at 12% and platinum at 4%;
- 87% of retailers say they are optimistic that the current silver surge will continue; and
- The age group buying the most silver jewelry is 20-40, according to nearly 60% of the retailers.
Michael Barlerin, director of the Silver Institute’s Silver Promotion Service, commented:
The Silver Institute/Silver Promotion Service was obviously gratified by what the survey demonstrated. Silver’s outstanding performance was the result of multiple interrelated factors, including the fact that 57% of retailers reported they had increased their inventory on average of 21%.