Latest News Other News Consumer appetite for silver strong

Consumer appetite for silver strong

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(PASO ROBLES, Calif.) - A consumer market research study conducted on behalf of the Silver Promotion Service by MVI Marketing Ltd.’s (MVI) Jewelry Consumer Opinion Council (JCOC) has found a strong consumer appetite for silver in fine jewelry and significant preferences for silver as the metal for fine jewelry set with diamonds.

Silver Promotion Service Director Michael Barlerin commenting on the research results said: “We knew from the results of our Nielsen trade research that silver sales are growing at a record pace. What’s gratifying in this consumer study is that the potential market share for silver in fine jewelry is expanding as consumers see more and more styles, many set with diamonds.”

Key findings from the JCOC research include:

  • Which color metal do you prefer for diamond jewelry?
    46% White, 25% Yellow
  • Besides a wedding ring(s), what type of jewelry do you wear practically everyday?
    50% Silver
  • I think Sterling Silver jewelry looks better than yellow gold
    42% agree
  • I find Sterling Silver jewelry to be more wearable than gold
    51% agree
  • Because Sterling Silver costs less than gold, I can accessorize all my outfits with it
    70% agree
  • When do you wear Sterling Silver the most?
    32% All of the time
  • About how many of your friends and family wear Sterling Silver jewelry?
    75% All or some of them
  • People feel good buying Silver jewelry because it makes a good gift
    70% of the respondents stated they like to buy Sterling Silver jewelry as gifts for family and friends

Liz Chatelain, President of MVI, in reviewing the research results noted: “Obviously the high gold price is driving consumers and retailers to look for alternatives in fine jewelry. What we are learning from this research and our regular contact with jewelry designers, is that consumers see silver as the strongest option. It is clear from the current inventory in all types of fine jewelry retailers, that silver is emerging as the new metal in diamond jewelry.”

Founded in 1985, MVI Marketing Ltd. (MVI) provides research and market development for the global gem, jewelry and watch industries. For more information visit www.mvimarketing.com.

 
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