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Product Pulse: How Are Your Platinum Jewelry Sales?
National Jeweler/Jewelers of America’s latest survey shows they are holding steady for a lot of jewelers.
The greatest percentage of survey-takers, 48 percent, reported that their platinum engagement ring sales have stayed about the same over the past three years.
New York--Sales of both platinum bridal and fashion jewelry have stayed steady or increased over the past three years for the majority of jewelers, National Jeweler/Jewelers of America’s latest survey shows.
Conducted in mid- to late May, the Product Pulse poll asked jewelers about their sales of platinum engagement rings and platinum fashion jewelry over the past three years, as well as their margins and best-selling brands in both categories. About 189 retailers completed the survey.
Of those, 65 percent reported steady (48 percent) or increasing (17 percent) platinum engagement ring sales over the past three years, while the remaining 35 percent said their platinum engagement ring sales have slipped.
Results were similar for sales of platinum fashion jewelry. Fifty-seven percent of respondents reported increasing (6 percent) or steady (51 percent) sales while 43 percent said they have seen sales decline in the category over the past three years.
When it comes to turning a profit on platinum sales, both engagement rings and fashion jewelry perform well, according to the retailers surveyed.
Fifty-two percent of survey-takers reported overall gross margins of 41 percent or higher on platinum engagement rings while 55 percent reported margins in the same range when selling fashion jewelry in the white metal.
When asked about the designers and brands that are best-sellers in their stores, many survey-takers told National Jeweler/Jewelers of America that custom jewelry is their best bet, which also is what jewelers said about gold jewelry and bridal sales.
“Our own brand sells the best,” one respondent wrote. “Next would be Verragio.”
Another noted, “We do custom platinum bands or special orders from specialty manufacturers like Leo Ingwer.”
Popular brands for platinum bridal included Martin Flyer, Gabriel & Co., Simon G, Hearts On Fire, Stuller and Tacori.
Custom also was the most-given response when survey-takers were asked about best-sellers in platinum fashion jewelry.
National Jeweler and Jewelers of America conducted the Product Pulse survey between May 20 and 28.
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