Sturdy U.S. Silver Jewelry Sales Continued in 2016
Wednesday, March 22, 2017 at 05:59PM
Survey Shows Eighth Consecutive Year of Silver Jewelry Sales Growth
(Washington, D.C. – March 22, 2017) – Silver jewelry sales in the United States were strong in 2016, with 62% of jewelry retailers reporting increased sales, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS). The results showed that 2016 was the eighth consecutive year of silver jewelry sales growth.
Highlights from the 2016 survey include:
- The average store growth in 2016 for silver jewelry sales was 16%. Eight percent of retailers reported an increase in sales of over 25%.
- 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.
- 54% of retailers said silver experienced the best turnover rate in 2016, followed by bridal and diamond both at 17%, gold at 10% and platinum at 2%.
- The best maintained margins during the holiday season were:
-Silver Jewelry 49%
-Diamond Jewelry 21%
-Bridal Jewelry 18%
-Gold Jewelry 10%
-Platinum Jewelry 2%
- 89% of retailers say they are optimistic that silver jewelry sales will continue to grow.
A copy of the report can be downloaded here: 2016 Silver Jewelry Sales Results
gold and silver prices are holding up well, with silver at $17.54/oz.
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Article originally appeared on Silver Prices (http://www.silver-prices.net/).
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