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As we continue to discuss "How to break into the Jewelry business?" the key question you need to ask yourself is "Who is going to be YOUR Target audience?" That means doing your homework like the Retail industry-
73% of the silver jewelry retailers reported increased sales last year, according to Silver Jewelry Buying Trends, a survey conducted by trade publication National Jeweler. The survey also found that 66% of the jewelry retailers reported an increase in 2013 holiday season sales of silver jewelry compared to 2012.
Who is buying silver jewelry?
The age group buying most of the silver jewelry is 20-40 years old, according to 58% for retailers.
The 41- 50 age group was second.
The strongest selling opportunity with silver is for WOMEN buying silver for themselves.
A fact that I have been telling artists for years - Men only buy jewelry for special occasion gifts -
Women buy for themselves and the biggest market is the younger age group.
The survey also highlighted the best margins during the holiday season with the percent rated as "best"
Silver Jewelry - 36%
Diamond Jewelry -28%
Bridal Jewelry - 17%
Gold Jewelry - 13%
Platinum - 6%