Silver jewellery continues to be a driving force in the US retail market, demonstrating strong sales growth and maintaining the highest margins compared to other precious metals. This is according to a new survey commissioned by the Silver Institute, which polled US jewellery retailers on their 2024 performance.<\/p>\n
The survey revealed that 53% of retailers reported increased silver jewellery sales in 2024, a notable rise from the 2022 survey results. This growth is underpinned by a significant increase in inventory, with 71% of retailers expanding their silver jewellery stock by an average of 15% in 2024, a 10% jump from 2022 figures.<\/p>\n
The survey notes that silver jewellery delivered the best-maintained margins for retailers, particularly during the crucial holiday season. Silver jewellery sales accounted for an average of 31% of unit volume in overall jewellery sales for retailers in 2024, up from 28% in 2022. The average store growth for silver jewellery sales reached 20% in 2024, significantly higher than the 14% recorded in 2022.<\/p>\n
Retailers identified customers aged 20-40 as the primary buyers of silver jewellery, followed by the 41-50 age group. Female self-purchase emerged as the strongest sales driver. An overwhelming 83% of retailers consider silver jewellery essential to their business operations. Some 92% of retailers express optimism for continued growth in silver jewellery sales over the next several years, an increase from 88% in 2022.<\/p>\n
Michael DiRienzo, President and CEO of the Silver Institute, commented on the findings: \u201cSilver jewellery offers the consumer many options at a price point that is friendly to the wallet. Interest in big and bold silver jewellery with increasingly stylish designs is leading many consumers to choose silver jewellery.\u201d<\/p>\n
The survey, which marks the 14th time the Silver Institute has commissioned such a study, was conducted online by The Jewelers Collective (TJC) jewellery trade magazine, between 11 February and 28 March.<\/p>\n","protected":false},"excerpt":{"rendered":"
Silver jewellery continues to be a driving force in the US retail market, demonstrating strong sales growth and maintaining the highest margins compared to other precious metals. This is according to a new survey commissioned by the Silver Institute, which polled US jewellery retailers on their 2024 performance. The survey revealed that 53% of retailers…<\/p>\n","protected":false},"author":1,"featured_media":31725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-31724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n