Silver jewelry demand takes up the slack from weak silver stacker demand
A report from the Silver Institute states that jewelry retailers in the United States described strong sales last year, with 59% reporting increased sales in 2017 - March 8th 2018
From source:
Highlights from the 2017 survey include:
The average store growth for silver jewelry sales was 17%.
Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 36% of their unit volume and 29% of their dollar volume.
57% said silver experienced the best inventory turnover rate in 2017; 19% said diamond; bridal and gold each accounted for 12%.
The best maintained margins during the holiday season were:
-Silver Jewelry 51%
-Bridal Jewelry 18%
-Diamond Jewelry 15%
-Gold Jewelry 13%
-Platinum Jewelry 3%
The age group buying the most silver jewelry is 20-40, according to 47% of the retailers. The 41-50 age group was second.
Retailers said the best-selling opportunity with silver is female self-purchase.
93% of retailers say they are optimistic that silver jewelry sales will continue to grow.
Commentary: History old beautiful shiny white metal now being publically endorsed for its natural anti-bacterial effects - no wonder people are gobbling silver up, at least for now in jewelry form. Expect physical stacking to follow...
Full report here:
https://www.silverinstitute.org/wp-content/uploads/2018/03/SilverJewelrySales2017.pdf
Photo source:
silverwow.net , 50 ounce 925 sterling necklace
- who said you couldn't stack wearable bullion -
If the article is true, I believe it is because of the economy, most people working at TGIF & Wal-Mart cannot afford gold. And the demographic where the 20-40 group buys the most. Unfortunately, the mark-up is so huge on retail jewelry, that it may be awhile before they achieve a positive rate of return..........Show'em how to stack generic rounds.
I think someone should start making connecting silver round or even bracelets/necklaces. Heck drill a few holes get some of that colloidal silver wire make some hoops and there you go.
If I ever see silver drop down I’ll start accumulating
Well then with silver now costing more to mine than what is its spot price - I think now would be that good time.
What if it only goes up from here?
Good to see jewelry demand staying strong. Bad @ss silver necklace!
Yeah, talk about wearable bullion...
This post is resteemed and upvoted by @bestboom
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