With gold prices shy of $2,000-an-ounce, silver is enjoying attention for its affordability, as well as its fashion status in cutting edge design and anti-microbial position in these COVID times.
A recent consumer survey, sponsored by the Silver Promotion Service (SPS) and conducted by MVI Marketing, finds a high level of pent-up demand for jewelry, as well as intent to buy silver jewelry during and post COVID-19.
“What we know is that jewelry is an emotional purchase that has always been the perfect gift to mark special occasions, express one’s love, and celebrate personal achievements and self-rewards,” reports SPS, underscoring how silver jewelry provides wide options in design and price points and delivers great turn and ROI.
The key characteristics when selecting silver jewelry were identified by respondents as versatility, affordability and design elegance. The study finds a high likelihood of self-purchase of silver jewelry for a variety of occasions, including “just because”, self-love, and birthday.
MVI’s survey found that half of the more than 500 respondents missed gift-giving events such as birthdays, Mother’s Day, and graduations for which they had planned on buying jewelry. As the country opens up, 64 percent say they’re planning to buy jewelry, with 45 percent contemplating that as their “just because” self-purchase. About 52 percent say COVID has affected their jewelry purchasing decisions thus far.
The survey shared the top characteristics most important to silver jewelry buyers, with 43 percent attracted to the fact that silver can look dressy or casual, 31 percent taken by the design options, 28 percent loving the versatility, and 23 percent each keen on the fact it’s a precious metal, makes a great keepsake, and that multiple pieces can be worn together.
Recent trends reports from SPS cite three jewelry classics attracting much of the attention: diamond stud and similar looks, hoops and bangles in silver. Silver set with diamonds, color stones or pearls has become a mainstay.
Effortless, “live-in” styling is key right now, something the brand LeStage by Marathon captures in its Cape Cod collection, crafted in natural silver with either silver or 14K yellow or rose gold beads, in smooth polish or swirl finish. New extensions to the line include single diamond and gold or CZ bead bracelets and necklaces, and triple bead bracelets in all silver, or silver with 14K yellow gold.
“Anyone who has visited the Cape, or other coastal areas in New England, New York and New Jersey are most familiar with the LeStage brand and Cape Cod Jewelry line, especially its iconic silver bracelet with 14K yellow gold bead,” describes Barbara Barry with the Marathon Company, Attleboro, Massachusetts. “The style is minimalistic, refined and easy to build on.”
Silver and pearls and have been a popular pairing for many seasons now. And, with gold prices high, silver continues to be important in pearl jewelry, with not only freshwater pearls, as Honora, a Richline brand has found, but also Tahitian pearls, as Imperial has discovered.
Other lustrous gems like mother-of-pearl, abalone pearl, and updated classic mother-of-pearl doublets in organic shapes shimmer in silver. Honora highlights trends in silver and pearl earrings, particularly big hoops and circles, and long sticks and drops. Current collections reflect trends for Art Nouveau, Art Deco and artisanal style. And, IBGoodman in Newport, Kentucky is expanding its Zé Inlay, featuring iridescent blue-green abalone pearl and opalescent pink and white mother-of-pearl inlay in silver designs inspired by flora and fauna.
Bigger, bolder sterling silver and CZ styles are trending for fall, cites Karen Crowe, marketing/merchandising for Quality Gold. The Fairfield, Ohio manufacturer is spotlighting in its Leslie brand multi-row bracelets, necklaces with varying strands that dangle to different lengths with adjustable clasps, and in-and-out hoops and dangle earrings with detailed mountings and patented lock.
Silver is among the “7 New Jewelry Trends You’re Going to See Everywhere This Fall”, hails whowhatwear.com. While gold is the metal that typically dominates the runways, the fashion website is seeing this season a huge uptick in silver pieces everywhere, in brands from Alexander McQueen to Raco Rabanne. Look out for thick tube bracelets, sculptural chokers, stacked dome rungs, and unique artisanal pieces. It also cites the popularity of mixed metal pieces, especially silver and gold; as well as chains in all forms, particularly oversized.
The Global Silver Jewellery Market 2020 report, by Market Reports World, anticipates silver jewelry demand to rise at a considerable rate over the next five years. In 2020, the market is growing at a steady rate and with the rising adoption of strategies in the category, the market is expected to continue to grow.