Silver jewelry sales in the United States were strong in 2017 with 59% of jewelry retailers reporting increased sales according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS). The results also confirmed that silver jewelry continues to be a leading merchandise category for retailers, both in driving sales and providing margin.
Highlights from the 2017 survey include:
· The average increase in silver jewelry sales was 17%.
· Silver jewelry sales were 36% of their unit and 29% of their dollar sales.
· 57% said silver experienced the best inventory turnover of all products sold in the store
· The best maintained margins during the Holiday Season were:
Silver Jewelry 51%
Bridal Jewelry 18%
Diamond Jewelry 15%
Gold Jewelry 13%
Platinum Jewelry 3%
· 93% of retailers are optimistic that silver jewelry sales will continue to grow.
SPS Director Michael Barlerin commented on the results, “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.”
