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Thursday, March 3, 2011

Silver jewellery sales zoom in 2010

Silver jewellery sales zoom in 2010 ; WASHINGTON : Silver jewellery sales have shown a healthy growth in 2010 with silver jewellery providing the best margin to retails in a survey of 340 retail jewellers representing approximately 4,000 stores, released by The Silver Institute’s Silver Promotion Service (SPS).

The survey was fielded in early February by Nielsen/National Jeweler. The study was the second such one commissioned by the SPS providing year-over-year comparisons.

According to the SPS, primary findings include the following:

-87% of jewelry retailers said their silver jewelry sales increased in 2010
-52% said their silver jewelry sales increased between 11 and 25%; 28% saw an increase over 25% for an average increase of 23%

-Retailers rated the following categories as giving them the ‘best’ maintained margin:
– Silver jewelry 57%
– Diamond jewelry 20%
– Bridal jewelry 15%
– Gold jewelry 4%
– Platinum jewelry 4%
-Silver jewelry generated an average 36% of unit volume and 28% of dollar volume

In commenting on the research results Michael Barlerin, SPS Director said, “We were all exceedingly gratified by the data that so strongly affirmed what we already knew on an anecdotal basis. What was somewhat of a surprise was not just silver’s absolute growth and performance ratings, but that in all major categories the 2010 results exceeded the corresponding record numbers from 2009.”

Michael DiRienzo, Silver Institute Executive Director stated, “Based on retailer feedback and the momentum behind silver jewelry, 2011 promises to be another sterling year for jewelers.”
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