Sixth Consecutive Year of Double Digit Growth
(Washington, D.C. — March 24, 2015) — Silver jewelry sales in the United States rose in 2014 according to an online survey fielded by “National Jeweler” magazine on behalf of the Silver Institute’s Silver Promotion Service (SPS). The survey affirmed that silver jewelry has become an increasingly important category for many jewelers for the past several years, both in driving sales and providing margin.
Highlights from the survey include the following:
- 67% of jewelry retailers said that their silver jewelry sales increased in 2014, with an average increase of 17%.
- Retailers said that their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 34% of their unit volume and 30% of their dollar volume.
- The best maintained margins during the holiday season were as follows:
(Percent rating category as “best”)
- 89% of retailers say they are optimistic that the current silver boom will continue for the next several years.
- Retailers reported that female self-purchases provided the best selling opportunity and the 20-40 age group bought the most silver jewelry in 2014.
A copy of the report can be downloaded here: 2014 Silver Jewelry Sales Results Report
Commenting on the survey, which was fielded February 13 – March 2, 2014, Michael Barlerin, Silver Promotion Service Director said, “The SPS and all of the participants in the Savor Silver program were very pleased by the 2014 results. They are further confirmation of the significance of the role that silver jewelry is now playing at retail.”
The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. and serves as the industry’s voice in increasing public understanding of the value and many uses of silver. Please visitwww.silverinstitute.org for more information on silver. The Silver Promotion Service was introduced in 2008 by the 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 please visit www.savorsilver.com.