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Retailers Report a Boom in Silver Sales

By   /   March 18, 2013  /   No Comments

The Silver Promotion Service’s annual survey shows that 91% of retailers have seen their silver sales either increase or stay the same in 2012 as compared to 2011.  Of those 91 percent, 77 percent reported an increase in silver sales.  SPS director Michael Barlerin said that in the four years since the Silver Jewelry Buying Trends Survey has been conducted, the precious metal has recorded year-over-year percentage growth in the high 70s or low 80s.  The trend has continued into this year.  “What I was struck by was the fact that the data for 2012 was on par with the data for the last three years, “said Barlerin.  “I thought, candidly, that the rate of growth might have slowed.  I was very pleasantly surprised.”  Silver has given retailers the best maintained margins and, according to Barlerin, retailers are stocking more silver jewelry to meet the demand of consumers who have embraced the breadth of design now available.  One retailer who took part in the survey went beyond calling silver the new gold.  “I call silver the new everything,” he said.  “It’s providing so much for the consumer and so much for the retailer.”  The boom in silver sales is expected to continue.

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