The Silver Promotion Service of the Washington D.C. based Silver Institute recently released the third in its annual series of surveys of silver jewelry sales performed by Nielsen/National Jeweler. For the participants in the survey, silver jewelry sales made up 37% of retailer unit volume and 27% of dollar volume, on average.
The silver organization’s 3rd Annual Silver Jewelry Sales Survey showed that silver jewelry sales grew overall in 2011, with 77% of surveyed jewelry retailers reporting that their 2011 silver jewelry sales increased and 27% experienced an increase of more than 25%.
In addition, the survey results showed that silver jewelry held its retail margins especially well during the Holiday Season of 2011. In particular, 53% of retailers surveyed saying that silver jewelry had the best maintained margin for that crucial year-end retailing period.
Silver Institute Directors Comment on the Survey’s Positive Results
About the survey results, Executive Director of the Silver Institute Michael DiRienzo stated that, “We were obviously aware of silver jewelry’s sales strength on an anecdotal basis.” He added that, “To have it quantified by ‘Nielsen/National Jeweler’ is extremely gratifying”.
In addition, Michael Barlerin, Director of The Silver Institute’s Silver Promotion Service noted that, “The fact that this is the third year the survey has showed such results has long-term implications for the industry.”
Mr. Barlerin went on to comment that, ”With 93% of the retailers saying they are optimistic that the current sales boom will continue, their opinion reinforces what I have said at various industry events and meetings, a ‘sea change’ has definitely occurred for silver jewelry.”
About The Silver Institute and its Silver Promotion Service
The Silver Institute was originally founded in 1971, and it operates out of its headquarters in Washington D.C. as a non-profit organization that acts as an international association for the silver industry.
The mission of the Silver Institute is to provide a voice for the silver industry in order to improve the public’s awareness of the value and applications of silver.
The Silver Institute’s created its Silver Promotion Service in 2008 to formulate and put into practice strategies for improving the image of silver and for growing the demand for silver in the international marketplace.
Dr. Jeffrey Lewis