According to a recent survey by InStore Magazine, last year was another strong year for jewellery sales.
The study, conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS), looked at the silver jewellery sales of 159 retailers. Results show that 62 per cent of retailers saw an increase in silver jewellery sales in 2016, marking the eighth consecutive year of growth for the metal.
Michael Barlerin, director of SPS, says that this growth in silver sales is a result of more silver designs being on the market. In his eyes, the “artisanal metal” offers a great price point, making attractive designs available for less. In addition, he says, the female self-purchaser has a lot to do with category growth.
Because of this, a large part of the organization’s 2017 outreach will focus on helping retailers reach these female consumers.
The SPS survey also showed that retailers stocked more silver jewelry in 2016, with 62 percent increasing their silver inventory an average of 24 per cent.
Moreover, many retailers expect the strong performance of silver to continue this year, with 89 per cent of jewellers feeling optimistic that silver jewelry sales will grow.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
