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Survey: Silver Sales Up for 59% of Retailers
The survey was conducted by InStore magazine on behalf of the Silver Promotion Service.
According to a recent survey, 59 percent of jewelry retailers said silver jewelry sales increased last year. Pictured here is a Kelim piece made from the metal.
New York--Silver jewelry sales in the United States were strong again last year, according to a recent survey, with more than half of retailers reporting an increase.
A survey conducted by InStore magazine on behalf of the Silver Institute’s Silver Promotion Service in February shows that 59 percent of jewelry retailers said silver sales were up last year. This is the ninth consecutive year of growth for the metal, SPS said.
According to the survey, the average store growth of silver jewelry sales in 2017 was 17 percent.
Retailers who took the survey also said their silver sales represented, on average, 36 percent of unit volume and 29 percent of dollar volume in terms of overall jewelry sales.
Fifty-seven percent of retailers indicated that silver jewelry experienced the best inventory turnover rate in 2017, while another 19 percent said that fell to diamonds, 12 percent said gold and another 12 percent said bridal.
Silver jewelry also maintained the best margins during the 2017 holiday season, with 51 percent of retailers indicating it was at the top. This was followed by bridal jewelry (18 percent), diamond jewelry (15 percent), gold jewelry (13 percent) and platinum jewelry (3 percent.)
What’s more, 93 percent of retailers indicated they’re optimistic that silver jewelry sales will continue to grow.
“The Silver Promotion Service is obviously gratified by what the survey demonstrated. We are also grateful that the optimism for silver’s ongoing performance remains so strong,” SPS Director Michael Barlerin said.
This was the ninth consecutive year that SPS has commissioned a survey about silver jewelry sales in retailers across the United States.
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