Jeweller - September 2021
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CHART E: SILVER & ALTERNATIVE METALS SALES – JAN-JUL <strong>2021</strong><br />
% increase (Year on Year) % increase (vs 2019)<br />
60<br />
40<br />
20<br />
0<br />
-20<br />
Jan '21 Feb '21 Mar '21 Apr '21 May '21 Jun '21 Jul '21<br />
Source: Retail Edge Consultants.<br />
Reflects increase and decrease<br />
of sales in dollar terms. July<br />
figures impacted by lockdowns<br />
in NSW and Victoria<br />
IP3556N-9YG<br />
The Perth Mint<br />
IP82-G014-9Y<br />
increased 137 per cent during 2020, compared with gold’s 38 per cent.<br />
Yet from a jewellery perspective, consumers Western markets such as<br />
Australia tend not to be influenced as strongly by fluctuations in the<br />
silver price – particularly when compared with gold.<br />
Silver jewellery also enjoy other benefits; the World Silver Survey <strong>2021</strong><br />
notes that the shift toward e-commerce is generally “positive as silver<br />
jewellery’s price points work well in an online space”.<br />
This shift was pronounced in Australia over the course of the pandemic,<br />
with Australia Post’s <strong>2021</strong> Inside Australian Online Shopping report<br />
noting that e-commerce spending increased by 57 per cent in the 12<br />
months to 31 December 2020.<br />
Potentially indicating strong consumer demand for silver jewellery are<br />
recent financial results announced by Pandora, the world’s largest<br />
jewellery producer by volume.<br />
The company refers to 925 sterling silver as its ‘signature metal’<br />
and utilises an estimated 340 tonnes of silver per year across its<br />
product lines.<br />
Pandora recently upgraded its forecast for the year, following promising<br />
financial results and citing a robust recovery in the US which is also the<br />
largest market for sterling silver jewellery by value.<br />
In the Australian market, the silver and alternative metals jewellery<br />
category has seen double-digit increases in sales dollars every month<br />
from January to June this year when compared with 2020, according to<br />
data from Retail Edge Consultants.<br />
Even taking into account the impact of the extended COVID-19<br />
lockdowns across Victoria and NSW in July, Retail Edge’s data – drawn<br />
from more than 400 stores – indicated sales in this category were still<br />
6 per cent higher than in July 2019.<br />
However, the ongoing and unpredictable COVID-19 pandemic is likely to<br />
continue to weigh on both supply and demand for silver jewellery, and<br />
IKE03-9YG<br />
IP82-G014-9YB<br />
LUXURY pearl AND opal JEWELLERY<br />
+61 2 9266 0636<br />
enquiries@ikecho.com.au www.ikecho.com.au
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