Silver Jewellery Maintains Highest Margins and Turnover Price
NEW YORK, April 14, 2020 /PRNewswire/ — Silver jewellery gross sales in the USA have been robust in 2019 with 59% of jewellery retailers once more reporting elevated gross sales in response to a survey carried out on behalf of the Silver Institute’s Silver Promotion Service (SPS). The outcomes additionally confirmed that silver jewellery continues to be a number one merchandise class for retailers, each in driving gross sales and offering margin.
Highlights from the 2019 survey embrace:
- 55% mentioned silver jewellery skilled the most effective stock turnover fee in 2019; 22% mentioned diamonds; 13% mentioned gold and 10% bridal.
- Retailers mentioned their silver jewellery gross sales, as a share of their general jewellery gross sales, have been on common 29% of their unit quantity and 21% of their greenback quantity.
- The common retailer progress in 2019 for silver jewellery gross sales was 12%.
- 54% of outlets mentioned that they elevated their silver jewellery stock in 2019.
- One of the best-maintained margins in the course of the Vacation Season have been:
- The age group shopping for essentially the most silver jewellery is 20-40 in response to 63% of the retailers.
- 91% of outlets say they’re optimistic that silver jewellery gross sales will proceed to develop.
SPS Director Michael Barlerin commented, “The Silver Promotion Service is gratified by what the survey demonstrated. We’re additionally enthused that the optimism for silver’s ongoing efficiency stays so robust and has continued for thus a few years.” The survey, carried out by INSTORE, was fielded in February this yr. This was the 11th consecutive yr that SPS has commissioned such a survey.
The Silver Promotion Service was launched in 2008 by the Washington DC-based Silver Institute. The target of the SPS is to develop and implement packages designed to reinforce the picture of and stimulate demand for silver jewellery in main worldwide markets. For extra data on the SPS please go to www.savorsilver.com.
The Silver Institute is a nonprofit worldwide business affiliation headquartered in Washington, D.C. Established in 1971, the Institute’s members embrace main silver producers, distinguished silver refiners, producers and sellers. The Institute serves because the business’s voice in rising public understanding of the worth and the various makes use of of silver. For extra data on the Silver Institute or silver on the whole, please go to www.silverinstitute.org.
SOURCE Silver Promotion Service