US silver jewelry sales increased for the eighth straight year in 2016, with average jewelry store growth at 16%, the Silver Institute reported Wednesday.
Some 62% of jewelry retailers reported increased sales, the Silver Institute said, while 8% of retailers reported an increase in sales over 25%.
As a percentage of overall jewelry sales, retailers said jewelry sales were on average 35% of unit volume and 27% of their dollar volume.
Some 54% of retailers said silver experienced the best turnover rate in 2016, followed by bridal and diamond both at 17%, gold at 10% and platinum at 2%.
According to the most recent Silver Institute report, global silver jewelry demand was 226.5 mt in 2015, accounting for just under 20% of total physical demand of 1,170 mt.
