IN THE KNOW
January 2025
Silver Continues to Deliver Results
A 2025 retailer survey shows strength in SILVER
Silver has become an increasingly important category for many jewelers over the past several years, both in driving sales and providing margin. To determine specifics on market performance, the Silver Institute fielded a market measurement study for the fourteenth year, asking retail jewelers to share their insight. The survey was conducted online by The Jewelers Collective February- March 2025.
thanks to all that paticipated!
Here’s what we learned:
What did we learn about sales of silver jewelry?
• 53% of the jewelry retailers said that their silver jewelry sales increased in 2024
• 18% said that their sales remained the same
• 29% saw a decrease in sales
What kind of increase /decrease did jewelers experience?
• 68% said that their sales increased between 11 and 25%
• 13% saw an increase of over 25%
• 20% was the average increase for silver jewelry sales in 2024
• Those who saw a decrease averaged 18%
What merchandise category provided the best maintained margin during the 2024 holiday season?
• Silver Jewelry rated 61%
• Lab Grown Diamonds 13%
• Diamond Jewelry 9%
• Bridal Jewelry 9%
• Gold Jewelry 5%
• Platinum 3%
What category experienced the best inventory turnover rate in 2024
• 61% said Silver Jewelry
• 11% said Lab Grown Diamonds
• 8% Diamond Jewelry
• 8% Bridal Jewelry
• 14% said Gold Jewelry
What are the best price points for silver jewelry sales?
• Less than $100 28%
• $100-$500 39%
• $501- $1000 24%
• Over $1,000 9%
What age group is buying the most silver jewelry? It was a tie!
• Ages 41-50 32%
• Ages 20-40 32%
• Ages 51-60 18%
What do retailers see as an opportunity to increase their silver jewelry sales?
• 47% said female self-purchase
• 26% said gifting
• 30% said millennials
Most important reasons why customers buy silver?
• 80% said that it is affordable
• 52% said it was because of the design options available
• 43% said it was because it’s a precious metal
What did retailers do to increase their sales in 2024?
• 20% offered more sales and discounts
• 17% increased social media posts
• 14% increased direct mail
How do retailers feel about the future growth of silver jewelry in the next few years?
• 92% of retailers are optimistic that silver jewelry sales will continue to grow
• 61% are very optimistic
And some interesting comments
“Silver represents variety”
“It’s a great entry level price point”
“Silver is so in!”
“Silver is perfect for those who can’t afford gold but want to treat themselves”
“We make excellent margins on our silver lines”
“With bold looks in style it’s the only way to go!”
The survey was conducted online by The Jewelers Collective online February 1st through March 31st 2025. Independent jewelry retailers across the US made up 98% of the respondents.
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