Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Platinum, Silver Jewelry Sales See Growth in U.S.
Platinum Guild International and the Silver Promotion Service both reported double-digit growth in the categories in 2017.
New York—Platinum and silver jewelry sales are both on the rise in the United States, according to two recent surveys.
Strong demand in both the bridal and self-purchasing markets contributed to platinum’s double-digit growth in 2017, Platinum Guild International indicated.
PGI’s annual market analysis, which polled more than 90 manufacturers and 1,400 retail companies that operate about 13,000 retail outlets, concluded that platinum jewelry sales in the U.S. increased 11 percent year-over-year, marking the fifth year in a row the sector grew.
They attributed it to a strong economy and positive consumer sentiment.
“We saw above-market growth for platinum jewelry in three out of four key markets in 2017, including the U.S.,” PGI CEO Huw Daniel said. “This trend is tied to a robust global economy and historically low platinum prices, together with an increasing preference for platinum among younger consumers, which indicates growth potential in the platinum jewelry sector in 2018.”
Bridal is the strongest driver of platinum jewelry sales, and PGI indicated it sees a new opportunity in that arena via platinum crowns, which it said holds diamonds more securely in rings, regardless of the metal used in the shank.
According to PGI, their platinum crown marketing in the U.S. increased its sales by 10 percent year-over-year and is expected to continue in 2018.
In addition to bridal, PGI is targeting the self-purchasing consumer, citing the 2017 De Beers Diamond Insight Report, which showed that women purchasing jewelry for themselves represents 33 percent of the non-bridal diamond jewelry market.
To access this demographic, PGI has introduced a platinum collection of chain necklaces called “Platinum Born.”
“We have felt for a long time that there was room in the marketplace for a beautifully designed, well made, price-friendly platinum collection,” PGI-USA President Jenny Luker said. “After concluding extensive focus groups and market research, Platinum Born fulfilled what the female self-purchasing consumer was looking for.”
The Silver Institute’s Silver Promotion Service, meanwhile, also reported growth for silver jewelry sales for the ninth consecutive year that it has commissioned a retailer survey, this year performed by InStore.
Retailers polled noted that on average, overall silver jewelry sales in 2017 increased 17 percent year-over-year and represented 36 percent of their unit volume and 29 percent of their dollar volume.
Approximately 57 percent of retailers said silver jewelry had the best inventory turnover rate, and 51 percent said the category had the best maintained margins during the 2017 holiday season.
The Latest
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.