Survey Shows Exceptionally Strong U.S. Silver Jewelry Sales in 2013
March 18, 2014 - WASHINGTON, DC
Silver jewelry sales in the United States were robust in 2013, with 73% of jewelry retailers reporting increased sales last year, according to "Silver Jewelry Buying Trends," a survey conducted by the prominent jewelry trade publication "National Jeweler" on behalf of the Silver Institute's Silver Promotion Service. The survey also finds that silver jewelry has become an increasingly important category for many jewelers for the past several seasons, both in driving sales and providing margin.
Highlights from the survey include the following:
- Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 33% of their unit volume and 29% of their dollar volume.
- The average increase in 2013 for silver jewelry sales was 17%.
- 66% of the jewelry retailers said their 2013 holiday season sales of silver jewelry increased over the 2012 holiday season.
- The best maintained margins during the holiday season were as follows:
(Percent rating category as "best")
Silver Jewelry 36%
Diamond Jewelry 28%
Bridal Jewelry 17%
Gold Jewelry 13%
Platinum Jewelry 6%
- 92% of retailers say they are optimistic that the current silver boom will continue for the next several years.
The survey was fielded in February for the Silver Institute's Silver Promotion Service (SPS). The objective of the SPS is to develop and implement programs designed to enhance silver's image and stimulate demand for silver jewelry in major international markets. This was the fifth consecutive year that the SPS has conducted such a survey.
SPS Director Michael Barlerin commented, "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."
For more information on the survey's results, please see: https://www.silverinstitute.org/site/wp-content/uploads/2014/03/SilverJewelryBuyingTrend2014.pdf
The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute's members include leading silver producers, prominent silver refiners, manufacturers and dealers. The Institute serves as the industry's voice in increasing public understanding of the value and many uses of silver. For more information on the Silver Institute, or silver in general, please visit: www.silverinstitute.org. For information on the SPS, please visit www.savorsilver.com.