According to “Silver Jewelry Sales Results”, a survey conducted by National Jeweler/Jewelers of America, on behalf of the Silver Institute’s Silver Promotion Service, “Silver jewelry sales in the U.S. were robust in 2014”.

The survey also noted that “silver jewellery has become an increasingly important category for many jewellers for the past several years, both in driving sales and providing margin”.

The following are some highlights from the survey:

1. 67 per cent of jewellery retailers said their silver jewellery sales increased in 2014. The average increase for silver jewellery sales was 17 per cent.

2. Retailers said their silver jewellery sales, as a percentage of their overall jewellery sales, were on average 34 per cent of their unit volume and 30 per cent of their dollar volume.  

3. The best maintained margins during the Christmas season were as follows: (Percent rating category as "best")

a. Silver Jewellery 43 per cent

b. Diamond Jewellery 31 per cent

c. Bridal Jewellery 19 per cent

d. Gold Jewellery 7 per cent

e. Platinum Jewellery less than 1 per cent

4. 89 per cent of retailers say they are optimistic that the current silver boom will continue for the next several years

Michael Barlerin, Silver Promotion Service's director, said, “The Silver Promotion Service and all of the participants in the Savor Silver programme were obviously very pleased by the exceptional 2014 results. They are further confirmation of the significance of the role that silver jewelry is now playing at retail.”