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RAPAPORT... Nearly three-quarters of U.S. jewelry retailers reported an increase in silver jewelry sales in 2013, according to an annual survey conducted by the Silver Promotion Service (SPS). Highlights from the survey revealed that as a percentage of overall jewelry sales, silver jewelry sales were 33 percent of unit volume and 29 percent of dollar total on average. Retail stores reported an annual increase of 17 percent in silver jewelry sales, according to SPS. Silver jewelry also maintained strong margins during the all-important Christmas season at 36 percent. SPS cited margins of 28 percent for diamond jewelry, 17 percent for bridal jewelry, 13 percent for gold jewelry and only 6 percent for platinum jewelry. Michael Barlerin, SPS's director, said, “While we already had anecdotal information from our program participants that 2013 had been an exceptional year for them, it was gratifying to see the quantifiable results from the survey. Additionally, the five consecutive year-over-year results are perhaps the most compelling I have ever seen.” SPS also determined that 92 percent of retailers remain optimistic for the current silver jewelry boom will continue for the next several years. Read the full report.
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