Silver’s versatility and relative affordability as online sales skyrocket and gold prices soar make the white metal a preferred jewellery option for consumers around the world.
Indeed, silver has a lot going for itself. A precious metal, it holds intrinsic value, as evident in the flurry of fine jewellery brands bridging the market with “affordable luxury” selections in silver. And while the price of silver has been inching upwards – hovering around the US$26 per ounce mark at press time, from US$11.64 on March 18 – it remains relatively affordable compared to its other precious metal cohorts.
The versatility of the white metal just adds to its appeal. Not only can silver entertain bigger, chunkier designs without breaking the bank, it also accommodates both classic daily-wear styles and more contemporary pieces with a refreshing ease.
Designers and manufacturers can create designs for an expansive range of budgets and preferences. Silver likewise allows for golden and darkened looks through plating, while a vintage, organic feel is achieved through oxidation.
Silver jewellery is very much on-trend too when it comes to retail sales. Its manifold designs and competitive prices make it extremely Instagram-friendly. These same qualities work in its favour in the current e-commerce boom buoyed by coronavirus-induced stay-at-home measures.
A recent study by the Silver Promotion Service notes that US consumers have a strong intent to buy silver jewellery following the Covid-19 pandemic. Respondents cite versatility, affordability, design and elegance among the key characteristics when selecting silver jewellery. The study also points to a high likelihood of self-purchase for silver jewellery across a variety of occasions.