A survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS) reveals a rise in silver jewelry sales in the US in 2016, according to a report in IDEX Online. According to the survey, which was run in February 2017, 62% of jewelry retailers reported increased sales of silver jewelry during the year.
According to the survey, the average store growth in 2016 for silver jewelry sales was 16%. 8% of stores reported an increase of over 25%. Additionally, silver jewelry sales accounted for 35% of retailers’ overall jewelry sales in terms of volume, and 27% of their dollar volume. 54% of retailers reported that silver had the best turnover rate in 2016, followed by bridal and diamond jewelry, gold and then platinum.
SPS Director Michael Barlerin commented that “silver’s outstanding performance was the result of multiple inter-related factors, including the fact that 62% of retailers reported they had increased their inventory on average of 24%”.
