The study, which analysed the performance of US jewellery retailers, highlights silver’s growing appeal among consumers and its increasing importance in retail strategies.

The survey shows that 53% of US retailers reported a rise in silver jewellery sales this year—up from the previous findings in 2022. In response to growing demand, 71% of retailers expanded their silver jewellery inventory in 2024, with average stock increases of 15%, a notable jump from the 5% growth recorded in 2022.

Silver jewellery emerged as the top-performing category for retail margins, particularly during the peak holiday shopping season. It accounted for 31% of unit volume in overall jewellery sales in 2024, up from 28% two years ago. Average store growth in silver jewellery sales reached 20% this year, a significant improvement from the 14% reported in 2022.

This sustained momentum in the US market brings positive implications for Indian exporters. India currently exports silver jewellery worth $320 million to the US, and the growing demand presents fresh opportunities for expansion.

Consumer demographics played a key role in driving this trend. Retailers identified the 20–40 age group as the primary buyer segment, closely followed by customers aged 41–50. Female self-purchase was cited as the leading sales driver, underscoring a shift toward personal expression and accessible luxury.

Silver jewellery’s strategic value continues to strengthen, with 83% of retailers calling it essential to their business. Looking ahead, 92% of retailers expressed confidence in the category’s continued growth over the next several years—an increase from 88% in 2022—highlighting silver’s enduring relevance in the evolving jewellery landscape.