According to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS),  silver jewellery sales in the United States continued to be  strong in 2019 with 59% of jewellery retailers again reporting increased sales. “The results also confirmed that silver jewellery continues to be a leading merchandise category for retailers, both in driving sales and providing margin,” SPS said when releasing the findings.

SPS summarised the highlights of the results of the survey saying:

• 55% said silver jewellery experienced the best inventory turnover rate in 2019; 22% said diamonds; 13% said gold and 10% bridal.
• Retailers said their silver jewellery sales, as a percentage of their overall jewellery sales, were on average 29% of their unit volume and 21% of their dollar volume.
• The average store growth in 2019 for silver jewellery sales was 12%.
• 54% of retailers said that they increased their silver jewellery inventory in 2019.
• The best-maintained margins during the Holiday Season were:

• Silver Jewellery 54%
• Diamond Jewellery 16%
• Bridal Jewellery 14%
• Gold Jewellery 12%
• Platinum Jewellery 4%

• The age group buying the most silver jewellery is 20-40 according to 63% of the retailers.
• 91% of retailers say they are optimistic that silver jewellery sales will continue to grow.

SPS Director Michael Barlerin commented, “The Silver Promotion Service is gratified by what the survey demonstrated. We are also enthused that the optimism for silver’s ongoing performance remains so strong and has continued for so many years.”