The Silver Institute—a 46-year-old nonprofit association whose membership includes silver mining houses, refiners, bullion suppliers, and manufacturers and wholesalers of silver products—released an announcement yesterday stating that 62 percent of jewelry retailers polled by the association reported an increase in the sale of silver jewelry in 2016.
The average store growth in 2016 for silver jewelry sales was 16 percent, according to the prepared statement, and 8 percent reported an increase of more than 25 percent.
Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were (on average) 35 percent of their unit volume and 27 percent of their dollar volume.
Fifty-four percent of retailers said silver experienced the best turnover rate in 2016, followed by bridal and diamond jewelry, both at 17 percent, gold at 10 percent, and platinum at 2 percent.
Perhaps most heartening to the Silver Institute: 89 percent of retailers “say they are optimistic that silver jewelry sales will continue to grow.”
The white metal has definitely made a full return to contemporary fashion, after years of single-minded devotion on the part of consumers to yellow gold and other warm-toned metals like brass—if not in the bridal sector, then certainly in the fashion category.
(Photo of John Hardy Hinged silver bangle courtesy of John Hardy)