The Silver Promotion Service (SPS) released an Executive Summary of its 3rd Annual Silver Jewelry Sales Survey. As in prior years, the online survey was conducted by Nielsen/National Jeweler. It covered multiple measures of silver jewelry’s sales performance during 2011 and included a section focusing specifically on results of the Holiday season.
Key findings included the following:
- 77% of jewelry retailers said their silver jewelry sales increased in 2011.
- Of this group, 27% had increases over 25%
- 53% of retailers rated silver jewelry as the best maintained margin during the 2011 Holiday Season
- Silver jewelry represented, on average, 37% of retailer unit volume and 27% of dollar volume
Michael Barlerin, SPS Director commented, "We were obviously aware of silver jewelry’s sales strength on an anecdotal basis. To have what we thought to be the case quantified by Nielsen/NJ is extremely gratifying." Barlerin went on to add, "The fact that this is the third year the survey has showed such results has long term implications for the industry. With 93% of the retailers saying they are optimistic that the current sales boom will continue, their opinion reinforces what I have said at various industry events and meetings, a ‘sea change’ has definitely occurred for silver jewelry.”"
The Silver Promotion Service is a marketing initiative introduced in 2008 by the Washington DC based Silver Institute. Its objective it to develop and implement programs designed to enhance the image of and stimulate demand for silver jewelry in major international markets.
