Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Jeweler brings Midwest to the Southwest
    Tara Fine Jewelry: Atlanta’s not-so-secret, best-kept secret
    Finding the Big Ones; Zambian Trophies for the Ages
    The Golden Girls of Gemstones
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    Jewelry Marketing Survival Guide
    JCK Industry Fund announces over $250,000 allocated to 2021 grant recipients
    JCK Industry Fund announces 2023 grant recipients
    diamonds on plant
    How to drive more sales and referrals through social media
    545 fifth ave building
    IGI moves to expanded New York offices and gem laboratory
  • Podcast
  • Columnists
    Jewelry Marketing Survival Guide
    The Story Behind the Stone: Out of the Blue
    What’s Hot Now!: Latest Designer Trends 2023
    A Winning Strategy: How SEO and buying intent can skyrocket your sales
    business people shaking hands
    Networking for small business owners
    Is the customer always right?
    Successful Custom: A Clean Disaster
    Brad Huisken
    A quick note about technology
    Computer with a Jewelry website
    Why starting SEO earlier in the year will benefit your jewelry store
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Jeweler brings Midwest to the Southwest
    Tara Fine Jewelry: Atlanta’s not-so-secret, best-kept secret
    Finding the Big Ones; Zambian Trophies for the Ages
    The Golden Girls of Gemstones
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    Jewelry Marketing Survival Guide
    JCK Industry Fund announces over $250,000 allocated to 2021 grant recipients
    JCK Industry Fund announces 2023 grant recipients
    diamonds on plant
    How to drive more sales and referrals through social media
    545 fifth ave building
    IGI moves to expanded New York offices and gem laboratory
  • Podcast
  • Columnists
    Jewelry Marketing Survival Guide
    The Story Behind the Stone: Out of the Blue
    What’s Hot Now!: Latest Designer Trends 2023
    A Winning Strategy: How SEO and buying intent can skyrocket your sales
    business people shaking hands
    Networking for small business owners
    Is the customer always right?
    Successful Custom: A Clean Disaster
    Brad Huisken
    A quick note about technology
    Computer with a Jewelry website
    Why starting SEO earlier in the year will benefit your jewelry store
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
No Result
View All Result
Home Latest News Other News

U.S. silver jewelry sales strong in 2020, optimistic outlook for 2021

Survey finds silver jewelry maintained margins, showed strong holiday growth

March 17, 2021
Share on FacebookShare on Twitter
Reading Time: 4 minutes

Silver Promotion Service(NEW YORK) – Despite unprecedented, pandemic-related retail challenges, according to a recent survey conducted on behalf of Silver Promotion Service (SPS), 42% of retailer respondents reported an increase in silver jewelry sales and of those, 52% reported double-digit sales increases. This marks the twelfth consecutive year of silver jewelry sales growth. Survey results also confirmed silver as a top performing category for fine jewelry retailers, driving sales and maintaining margins, especially during the holiday selling season. Additionally, 89% of retailers expressed optimism that their silver jewelry sales will continue to grow over the next several years.

Highlights from the 2020 survey include:

  • 42% of the jewelry retailers surveyed said their silver jewelry sales increased in 2020.
  • 52% of those reporting an increase said their silver jewelry sales increased between 11% and 25%.
  • 52% indicated their holiday 2020 sales of silver jewelry increased over the 2019 holiday season.
  • Silver jewelry delivered the best-maintained margin during the holiday season in 2020 – more than twice that of any other category (43% silver compared to 19% diamond, 17% bridal, 16% gold and 5% platinum).
  • 39% of respondents said silver jewelry experienced the best inventory turnover rate (followed by diamonds at 29%, gold at 15% and bridal at 13%).
  • Surveyed retailers reported their silver jewelry sales, as a percentage of their overall jewelry sales, averaged 34% of their unit volume and 27% of their dollar volume.
  • 41% said their online silver jewelry sales increased compared to the prior year.
  • 50% of retailers said that they increased their silver jewelry inventory in 2020 an average of 19%.
  • The age group buying the most silver jewelry is 20-40 according to 51% of the retailers.
  • 89% of retailers say they are optimistic that silver jewelry sales will continue to grow.

SPS Director Michael Barlerin commented: “The Silver Promotion Service is pleased that silver jewelry continues to grow in importance for American jewelry retailers, maintaining double-digit sales increases and strong margins, despite the challenges related to the COVID-19 pandemic. We are also excited by the robust expression of optimism for silver jewelry’s continued future growth.”

Bella Cavo
Bella Cavo
E.L. Designs
E.L. Designs
Adel Chefridi
Adel Chefridi
Martha Seely
Martha Seely

The research, conducted by INSTORE, was fielded in February 2021, marking the 12th consecutive year that SPS has commissioned such a survey.

The Silver Promotion Service was introduced in 2008 by the Washington DC-based Silver Institute.

For more information on the Silver Promotion Service visit www.savorsilver.com. Learn more about the Silver Institute at www.silverinstitute.org.

Related Posts

Jewelry Marketing Survival Guide

March 15, 2023
JCK Industry Fund announces over $250,000 allocated to 2021 grant recipients

JCK Industry Fund announces 2023 grant recipients

March 15, 2023
diamonds on plant

How to drive more sales and referrals through social media

March 15, 2023
545 fifth ave building

IGI moves to expanded New York offices and gem laboratory

March 15, 2023

Latest News

Columnists

Jewelry Marketing Survival Guide

March 15, 2023
On The Move

JCK Industry Fund announces 2023 grant recipients

March 15, 2023
Other News

How to drive more sales and referrals through social media

March 15, 2023

Other News

IGI moves to expanded New York offices and gem laboratory

The Story Behind the Stone: Out of the Blue

What’s Hot Now!: Latest Designer Trends 2023

Costar releases 2023 Bridal Book

Select Show adds Ritz Carlton in Tysons Corner, VA to Fall venue lineup

2023 Chicago Responsible Jewelry Conference to be held August 11-12

Southern Jewelry News

© 2022 Southern Jewelry News.

Additional Information

  • About
  • 2023 Jewelry Trade Shows & Events
  • Media Kit
  • Contact
  • Sitemap
  • Newsletter Signup

Get Social with Us

No Result
View All Result
  • Featured Articles
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    • Sponsored Content
  • Latest News
    • What’s New
    • Industry Events
    • Tradeshow News
    • On The Move
    • Other News
    • Furry Friends
  • Podcast
  • Columnists
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription

© 2022 Southern Jewelry News.