‘Exceptionally strong U.S. silver jewelry sales in 2013’ - survey

Silver jewelry has become an increasingly important category for many jewelry for the past several seasons, as U.S. silver jewelry sales grew for the fifth consecutive year.

Posted: Wednesday , 19 Mar 2014

RENO (MINEWEB) -

A survey conducted by jewelry trade publication National Jeweler on behalf of the Silver Institute’s Silver Promotion Service found silver jewelry sales were robust last year, with 73% of jewelry retailers reporting increased sales in 2013.

92% of the retailers who responded to the survey said they are optimistic that the current silver boom will continue for the next several years.

The merchandise categories giving retails the best maintained margins during the holiday season was—in order of ranking—silver jewelry 36%, diamond jewelry 28%, bridal jewelry 17%, gold jewelry 13%, and platinum jewelry 6%.

65% of the retailers surveyed increased their silver jewelry inventory in 2013, an average of 23%. 46% observed that silver experienced the best inventory turnover rate in 2013.

Of the jewelry retailers surveyed, 66% said their 2013 holiday sales of silver increased over the 2012 season. 56% said their silver jewelry sales increased between 11-25%, while 10% saw and increase over 25%. The average increase in 2013 for silver sales was 17%.

The age group purchasing the most silver jeweler is 20-40 years, according to 58% of the retailers. The retailers noted that the best selling opportunity with silver is women makes purchases for themselves at 50%, followed by gifting at 30%.

The two best price points where retailers are experiencing the greatest amount of sales in silver jewelry are $100-$500 (42%) and less than $100 (50%).

The survey was conducted online from February 4 to February 24 of this year with the questionnaire sent to 37,000 National Jeweler daily newsletter subscribers. 271 retailers representing 2,700 stores responded and formed the basis for the report.

Silver Promotion Services Director Michael Barlerin observed, “While we already had anecdotal information from our program participants that 2013 had been an exceptional year for them, it was gratifying to see the quantifiable results from the survey.”

“Additionally, the five consecutive year-over-year results are perhaps the most compelling I have ever seen,” he added.