Annual Silver Jewelry Sales Survey. Conducted for:

Annual Silver Jewelry Sales Survey Conducted for: February 2012 1 Introduction Silver has become an increasingly important category for many jewe...
3 downloads 0 Views 41KB Size
Annual Silver Jewelry Sales Survey

Conducted for:

February 2012

1

Introduction Silver has become an increasingly important category for many jewelers over the past several seasons, both in driving sales and providing margin. To determine specifics on market performance and help support the category's further growth, the Silver Promotion Service partnered with National Jeweler/Nielsen for the third year in a row to field a market measurement study.

Objectives Jewelry Retailers were surveyed to determine:



How 2011 silver jewelry sales compared to 2010.

 

How 2011 holiday sales for silver jewelry compared to the 2010 season. Which merchandise categories had the best maintained margin over the 2011 holiday season. What price points of silver jewelry have the greatest amount of sales. How silver jewelry performs compared to other categories in their store. Whether they increased their inventory of silver jewelry in 2011 and which

       

category had the best inventory turnover rate. Whether they merchandise all of their silver jewelry in one defined section of their store, the range of price points within the section and how it is grouped. What age groups are buying the most silver jewelry and where they see their best selling opportunities with silver (youth, gifting, female self purchase). How important silver jewelry is to their business. Whether they took specific actions during the past year to drive silver jewelry sales. How optimistic they are that the current silver boom will continue for the next several years.

Methodology The survey was conducted online from January 31 to February 22, 2012. The questionnaire was sent to a total of 33,098 National Jeweler subscribers. As of February 22, 301 retailers representing 1,800 doors had responded and form the basis for this report. Statistically, a response base of 301 respondents indicates results can be expected to be within plus or minus 5.7% at a 95% confidence level.

2

Executive Summary



77% of the jewelry retailers said their silver jewelry sales increased in 2011. 14% said their silver jewelry sales remained the same and 9% saw a decrease in sales.



48% said their silver jewelry sales increased between 11 and 25%. 27% saw an increase over 25%. The average increase in 2011 for silver jewelry sales was 22%.



73% of the jewelry retailers said their 2011 holiday season sales of silver jewelry increased over the 2010 holiday season. Five percent said their holiday season silver jewelry sales remained the same while 12% said their sales decreased.



The following merchandise categories gave retailers the best maintained margins during the holiday season: (Percent rating category as "best")



Silver Jewelry

53%

Bridal Jewelry

17%

Diamond Jewelry

22%

Gold Jewelry

5%

Platinum

3%

The two best price points where retailers are experiencing the greatest amount of sales in silver jewelry are less than $100 (51%) and $100 - $500 (40%). Price Point Range More than $1,000

4%

$501 - $1,000

6%

$100 - $500

40%

Less than $100

51%

3



Retailers were asked how silver jewelry performed over other categories in their store over the past 12 months (2011). The percent indicating that silver performed much better or better than the other category are as follows: % Saying Silver Performed Much Better/Better than:

Total Sales

63%

Platinum

67%

Gold

63%

Diamond

55%

Bridal

43%



Retailers said their silver jewelry sales as a percentage of their overall jewelry sales was on average 37% of their unit volume and 27% of their dollar volume. Expressed as a median, silver jewelry sales were 30% of their unit volume and 20% of their dollar sales volume.



77% increased their inventory of silver jewelry in 2011 an average of 31%. 59% said silver experienced the best inventory turnover rate in 2011; 20% said diamond, 15% bridal, 5% gold and 1% platinum.



67% merchandise all of their silver jewelry in one defined section of the store. 53% said the jewelry is grouped by style, 32% by brand, 31% by content and 11% by price point.



Fifty percent indicated that their price points within the defined section was $100 - $500. Price Point Range Less than $100

25%

$100 - $500

50%

$501 - $1,000

14%

Over $1,000

11%

4



59% say they merchandise silver jewelry with other content jewelry such as gold. 70% define these mixed groupings by style and 31% by brand.



The age group buying the most silver jewelry is 20 - 40 according to 57% of the retailers. The 41 - 50 age group was second.



Over 60

1%

51-60

4%

41-50

22%

20-40

57%

Under 20

17%

Retailers say the best selling opportunity with silver is female self-purchase followed by gifting. Female self-purchase

50%

Gifting

26%

Youth market

24%



68% say silver jewelry is very important or important to their business.



93% said they are optimistic that the current silver boom will continue for the next several years.



43% said they have taken specific actions during the past year to drive silver sales.



Retailers indicated their merchandising/buying decisions are influenced by customer requests (38%), trade shows (25%), existing supplier recommendations (21%), industry publications & websites (10%), P/R advertising (3%) and competitors merchandising (2%).

5



51% said signage was the type of help they needed to better display silver jewelry within their store. 39% said on-counter presentation pads, 29% plan-ograms/recommendations for in-case display and 26% said adjacency strategies. Other mentions include better display ideas for shows, anti-tarnish cloths, digital photos, less expensive point of sale packaging.



86% of the respondents are independent retailers, 3% jewelry chains, 1% department stores and 11% other.



Respondents were from across the country. New England

7%

Middle Atlantic

25%

East North Central

12%

West North Central

7%

South Atlantic

18%

East South Central

4%

West South Central

11%

Mountain West

4% 12%



72% of the retailers operate one physical store, 18% operate two or more stores and 10% were online only.



Annual per store sales for respondents are $1,379,000.

6

Suggest Documents