It’s the Signet-owned banner’s first location in Georgia.
Platinum, Silver Jewelry Sales See Growth in U.S.
Platinum Guild International and the Silver Promotion Service both reported double-digit growth in the categories in 2017.
New York—Platinum and silver jewelry sales are both on the rise in the United States, according to two recent surveys.
Strong demand in both the bridal and self-purchasing markets contributed to platinum’s double-digit growth in 2017, Platinum Guild International indicated.
PGI’s annual market analysis, which polled more than 90 manufacturers and 1,400 retail companies that operate about 13,000 retail outlets, concluded that platinum jewelry sales in the U.S. increased 11 percent year-over-year, marking the fifth year in a row the sector grew.
They attributed it to a strong economy and positive consumer sentiment.
“We saw above-market growth for platinum jewelry in three out of four key markets in 2017, including the U.S.,” PGI CEO Huw Daniel said. “This trend is tied to a robust global economy and historically low platinum prices, together with an increasing preference for platinum among younger consumers, which indicates growth potential in the platinum jewelry sector in 2018.”
Bridal is the strongest driver of platinum jewelry sales, and PGI indicated it sees a new opportunity in that arena via platinum crowns, which it said holds diamonds more securely in rings, regardless of the metal used in the shank.
According to PGI, their platinum crown marketing in the U.S. increased its sales by 10 percent year-over-year and is expected to continue in 2018.
In addition to bridal, PGI is targeting the self-purchasing consumer, citing the 2017 De Beers Diamond Insight Report, which showed that women purchasing jewelry for themselves represents 33 percent of the non-bridal diamond jewelry market.
To access this demographic, PGI has introduced a platinum collection of chain necklaces called “Platinum Born.”
“We have felt for a long time that there was room in the marketplace for a beautifully designed, well made, price-friendly platinum collection,” PGI-USA President Jenny Luker said. “After concluding extensive focus groups and market research, Platinum Born fulfilled what the female self-purchasing consumer was looking for.”
The Silver Institute’s Silver Promotion Service, meanwhile, also reported growth for silver jewelry sales for the ninth consecutive year that it has commissioned a retailer survey, this year performed by InStore.
Retailers polled noted that on average, overall silver jewelry sales in 2017 increased 17 percent year-over-year and represented 36 percent of their unit volume and 29 percent of their dollar volume.
Approximately 57 percent of retailers said silver jewelry had the best inventory turnover rate, and 51 percent said the category had the best maintained margins during the 2017 holiday season.
The Latest
Commemorate “brat summer” with these green hoops.
Editor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
Sponsored by Gemological Institute of America
They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
A longtime member of IJO, she’s remembered for her passion for design, learning, and environmentalism.
The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
The fine jewelry retailer filled backpacks with back-to-school essentials for students in 13 states.
Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
The Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
Union Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
Los Angeles-based Bradlei Smith was selected for this year’s award.
In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
The giveaway is part of the New England jeweler’s summer bridal event.
The ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
The grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.
Ghazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
The organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.
Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
The 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
Dance all night long with the “So Move Max” set’s necklace.
Luxury giant LVMH is reshuffling the leadership in its watches division.