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Press Release: Silver jewelry sales in the U.S. were robust in 2014, 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. The survey also confirmed that silver jewelry has become an increasingly important category for many jewelers for the past several years, both in driving sales and providing margin. Highlights from the survey include the following:
• 67 percent of jewelry retailers said their silver jewelry sales increased in 2014. The average increase for silver jewelry sales was 17 percent.
• Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 34 percent of their unit volume and 30 percent of their dollar volume.
• The best maintained margins during the Christmas season were as follows (percent rating category as "best"):
Silver Jewelry 43 percent
Diamond Jewelry 31 percent
Bridal Jewelry 19 percent
Gold Jewelry 7 percent
Platinum Jewelry less than 1 percent
• 89 percent of retailers say they are optimistic that the current silver boom will continue for the next several years. Commenting on the survey, which was fielded in February, Michael Barlerin, Silver Promotion Service's director, said, “The Silver Promotion Service and all of the participants in the Savor Silver program 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.” The Silver Promotion Service was introduced in 2008 by the Silver Institute (www.silverinsitute.org). Its objective is to develop and implement programs designed to enhance the image of and stimulate demand for silver jewelry in major international markets. For more information, please visit www.savorsilver.com.
Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients
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