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October 1999

Precious Metals & Bench
Data & Statistics

Who Buys Silver Giftware?

Those in search of silver have lots to spend and are in a buying mood

Traditional jewelers may think of sterling silver with little enthusiasm because of its low– price image in everything but watches and designer jewelry. But remember the sales opportunities inherent in offering well– crafted sterling silver giftware and flatware from suppliers that cater to jewelers.

The biggest markets for silver giftware and flatware are the bridal market and high– income households, says the Silver Trust International, New York City. The bridal market comprises mostly gifts to the happy couple, so the purchases occur at a time when family and friends are openly willing to spend money. For high– income households, sterling silver giftware (serving pieces, candlesticks, vases, frames, etc.) are the epitome of understated elegance.

Here, courtesy of STI, are some advantages of each market you may want to consider when planning how much space to devote to sterling giftware (a retail market that totaled $321 million in the U.S. last year) and flatware ($251 million).

Bridal Market

  • Accounts for roughly half of all sterling silver giftware and flatware purchases.
  • Includes brides– to– be, family and friends of the bridal couple.
  • Is a constantly renewing source of potential customers.

High– Income Households