April 21, 2016
For the past seven years, silver has consistently lead all other jewelry categories in delivering margin, driving sales and providing opportunity for future growth, according to a recent retail survey. Once again, The Silver Institute/Silver Promotion Service partnered with National Jeweler and Jewelers of America to field a market research study of jewelry retailers in the United States. The results of the 2015 survey show that silver continues to be an increasingly important category for jewelry retailers.

The Silver Promotion Service suggests reviewing the following results and compare to your store’s performance with silver this past year. The silver survey results make clear that silver jewelry represents the opportunity for jewelers to attract not only the younger female consumer but one who will purchase for herself. You can browse JA's Supplier Showcase or visit savorsilver.com to view a variety of brands that can enhance your assortment of silver jewelry.

Silver Margin & Optimism

  • Silver provides the best maintained margin, according to 45% of the respondents. Diamond jewelry was second at 27%, bridal jewelry was third at 16%, followed by gold jewelry at 9% and platinum jewelry at 3%.
  • Silver continues to be increasingly important to their business, according to 62% of the survey respondents with 37% saying that it is very important.
  • 87% say they are optimistic that the current silver boom will continue for the next several years, 46% said they were very optimistic.

Silver Sales 

  • Over 60% of retailers said that their silver jewelry sales increased in 2015, compared to the 22% that said that silver jewelry sales remained the same. And 42% of those that saw increased sales reported increases between 11% and 25%, with 8% reporting an increase of over 25%.
  • The best opportunity for sales is with the 20-40 age group according to 58% of the respondents. The 41-50 age group was second.
  • 83% of the respondents said that price point is the single most influential factor in motivating the customer to buy followed by recommendations by the sales staff at 62% and brand recognition at 60%.
  • 48% of respondents reported an increase in silver jewelry sales for the holiday season and 25% had sales equal to 2014. 
  • For the 7th year in a row, retailers said that the best-selling opportunity for silver jewelry is the female self-purchase followed by gifting.
  • Silver jewelry price points of $100-$500 represent 42% of silver jewelry sales.

Silver Inventory

  • 45% of the respondents experienced the best inventory turn with silver, diamonds at 17%, bridal 12%, gold and platinum at 4%.
  • 57% of respondents increased their inventory of silver jewelry an average of 21% in 2015.
  • Respondents reported silver represented more than 33% of their unit volume and 27% of dollar sales.
  • SPS asked retailers what the key influences were in determining whether to carry a new collection or brand. In order of importance were: customer requests at 78%, recommendations by other retailers at 55%, the reputation of the sales representative at 46%, the brand’s consumer advertising and public relations at 43% and trade show presentation at 31%. 

Silver Marketing

  • When asked the importance of social media in their customer’s decision to purchase, only 25% of respondents thought that it was important.
  • In terms of how retailers were spending their marketing dollars, retailers reported that print advertising takes 23% of their marketing spend, with promotional events at 19%, on-line at 18%, and social media at 14%.

This article was provided by the Silver Promotion Service, an international marketing organization dedicated to expanding and strengthening consumer and trade markets for silver jewelry. For more information, visit savorsilver.com or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
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