Silver jewellery sales in the US were exceptionally strong in 2015, with 60 percent of jewellery retailers reporting increased sales, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS).
The survey found that the average growth in 2015 for silver jewellery sales in the US was 15 percent. Retailers said their silver jewellery sales on average accounted for 35 percent of their unit volume and 27 percent of their dollar volume.
Silver jewellery gave 45 percent of survey respondents their best turnover rate in 2015, followed by diamond jewellery at 22 percent, bridal at 17 percent, and gold and platinum at 4 percent. The product category also gave 45 percent of retailers polled the best maintained margin during the holiday season. Diamond jewellery came in at second with 27 percent; bridal jewellery, 16 percent; gold jewellery, 9 percent; and platinum jewellery, 3 percent.
According to the survey, 87 percent of retailers said they were optimistic that the current silver surge will continue.
SPS director Michael Barlerin commented: “The Silver Promotion Service was obviously gratified by what the survey demonstrated. 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/March of this year.
Established in 2008 by the Silver Institute, the SPS develops and implements programmes designed to enhance the image of and stimulate demand for silver jewellery in major international markets.
- Full story in SILVERSTYLES, May 2016. To purchase a copy, please click here.