Silver Institute: U.S. 59% Increase in Silver Jewelry Sales for 2017

Wow! Nothing like demand for an Argument for the Coming Price Surge of “Peak Silver.” A whopping 59 percent increase just in Jewelry sales in 2017 and just the U.S. alone. It's no wonder that silver will outperform gold this year!

Here's what the Silver Institute Press Release had to say today;

Jewelry retailers in the United States described strong silver jewelry sales last year, with 59% reporting increased sales in 2017, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS). The results also showed that silver jewelry continues to be a leading merchandise category for retailers, especially in driving sales when compared to other precious metals.

Highlights from the 2017 survey include:

• The average store growth for silver jewelry sales was 17%.
  • Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 36% of their unit volume and 29% of their dollar volume.
  • 57% said silver experienced the best inventory turnover rate in 2017; 19% said diamond; bridal and gold each accounted for 12%.
  • The best maintained margins during the holiday season were:

-Silver Jewelry 51%
-Bridal Jewelry 18%
-Diamond Jewelry 15%
-Gold Jewelry 13%
-Platinum Jewelry 3%

The complete survey can be downloaded here:  2017 Silver Jewelry Survey Results

ORIGINAL SOURCE: SURVEY RESULTS INDICATE SOLID U.S. SILVER JEWELRY SALES IN 2017 by silverinstitute.org on 3/8/18