Silver jewelry sales in the United States were solid in 2015 with 60% of jewelry retailers reporting increased sales, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS). This marked the seventh consecutive year of growth for silver jewelry sales and confirmed that silver jewelry is an increasingly important category for many retailers.
Highlights from the 2015 survey include: 1: The average growth in 2015 for silver jewelry sales was 15%; 2: Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 35% of their unit volume and 27% of their dollar volume; 3: 45% of retailers said silver experienced the best turnover rate in 2015, followed by diamond jewelry at 22%, bridal at 17%, gold at 12% and platinum at 4%.
4: 87% of retailers say they are optimistic that the current silver surge will continue; and 5: The age group buying the most silver jewelry is 20-40, according to nearly 60% of the retailers. SPS Director Michael Barlerin commented, “The Silver Institute/Silver Promotion Service was obviously gratified by what the survey demonstrated. Silver’s outstanding performance was the result of multiple interrelated factors, including the fact that 57% of retailers reported they had increased their inventory on average of 21%.”
The survey was conducted by National Jeweler/Jewelers of America and was fielded in February/March of this year. This was the seventh consecutive year that SPS has conducted such a survey.