JB Insights
Silver delivers strong results for U.S. Jewellers Silver Institute survey
Shifting consumer values and economic headwinds drive transformation
Arecent survey by the The Silver Institute shows that silver jewelry is a real winner in the US retail market. It’s not just selling well, but it’s also making more money for retailers than other precious metals like gold or platinum. The survey, which talked to US jewelry stores found that silver jewelry sales are growing strongly. This means more people are buying silver necklaces, bracelets, rings, and earrings. The survey was conducted online by The Jewelers Collective for the Silver Institute between February 11 and March 28, 2025.

Michael DiRienzo, President and CEO of the Silver Institute, commented on the findings: “Silver jewellery offers the consumer many options at a price point that is friendly to the wallet. Interest in big and bold silver jewellery with increasingly stylish designs is leading many consumers to choose silver jewellery.”
Key findings from the survey:
• Silver jewellery delivered the best-maintained margins – a whopping 61%, compared to 5% from gold jewellery -among precious metals, especially during the holiday season.
• 53% of US jewellery retailers reported increased silver jewellery sales in 2024, up from 2022.
•71% of retailers expanded their silver jewellery inventory by an average of 15% in 2024, a 10% increase over 2022.
• Silver jewellery accounted for 31% of unit volume in overall jewellery sales in 2024, up from 28% in 2022.
• Average store growth for silver jewellery sales was 20% in 2024, compared to 14% in 2022.
• Primary buyers are aged 20-40, followed by 41-50; female self-purchase is the strongest sales driver. • 83% of retailers consider silver jewellery essential to their business.
• 92% of retailers are optimistic about continued growth in silver jewellery sales over the next several years, up from 88% in 2022.
JB Insights
The Woman Wearing The Diamond Was Never The One The Ad Was Talking To
Disha Shah, Founder & Designer, DiAi Designs Says That The Brands That Shift From “She Deserves It” to “She Chose It” Won’t Just Win Cultural Relevance – They’ll Own The Future Of Jewellery Marketing.
Indian jewellery advertising has always centred the woman. She has been the face of every campaign, draped in gold, luminous at the occasion, receiving the gift with practised grace. What she rarely was, until recently, was the intended audience.
The creative language of the category was built around a genuine economic reality. For decades, the buyer in Indian fine jewellery was the patriarch, the husband, the father, the family elder making a financial decision on behalf of a woman whose purchasing autonomy was limited. Advertising followed the money. The gift reveal, the bridal close-up, the family approval shot: these were not arbitrary creative choices. They reflected who held the purse strings, and they became so embedded in the category’s visual grammar that they outlasted the conditions that created them by an entire generation.
That structural reality has now reversed. Jewellery purchases now extend beyond weddings and festivals to daily wear, driven by financially independent working women. The self-purchasing woman is no longer an emerging segment; she is the category’s fastest-growing buyer, approaching the decision differently from the buyer the industry originally designed itself around. She is not waiting for an occasion. She is not waiting for someone to present a box. She researched the piece, chose it, and bought it because she wanted it.
The advertising, for the most part, has not caught up.
Some brands are beginning to recognise this. CaratLane’s #WearYourWins movement and Tanishq’s sustained push toward the “woman as decision-maker” are meaningful steps. But what makes these campaigns commercially smart is not just cultural alignment. Research from Harvard Business School finds that women systematically provide less favourable assessments of their own performance and potential than equally performing men. This documented self-promotion gap persists even when women know they have outperformed others. Campaigns that actively celebrate female self-recognition are not just filling a creative gap. They are responding to a behavioural reality that has gone largely unaddressed in the category. The brands doing this well are not being progressive for their own sake. They are being accurate about who their buyer is and what she needs to hear.
Look at the Women’s Day 2026 campaigns across the industry. The conversation is clearly starting to pivot. Brands are finally stepping away from the usual gifting tropes and reframing jewellery as a tool for personal milestones and self-expression. But these remain exceptions. The dominant campaign language of Indian jewellery- the gesture, the reveal, the woman being seen rather than deciding- has not structurally changed.
The media mix tells the same story. Titan leaned heavily on television in FY25, with ad volume surging to 77% of its mix, a broadcast medium built for household reach rather than the individual, financially independent woman who now represents the category’s fastest-growing buyer.
Meanwhile, digitally native BlueStone achieved 50% of online jewellery ad volumes on a budget nearly ten times smaller than Titan’s. The channel that reaches the self-purchasing woman directly is delivering outsized results on a fraction of the spend. The implication for where the industry should be directing its creative attention is fairly clear.
Consider what a brief genuinely written for this buyer would look like. No occasion in the shot. No second person in the frame presents anything. The opening line is not “for the woman who deserves to be celebrated.” It is “she saw it, she wanted it, she bought it.” The product earns its place not through sentiment but through desire. The copy does not explain why she is worth it. It assumes she already knows. That is not a tonal adjustment. It is a fundamentally different creative architecture, and very few briefs in this category have been written that way.
The LGD category has a specific opportunity here that established houses do not. Without decades of legacy campaign language to protect, an independent designer in this space can build advertising from a blank page, one written entirely around the woman who is actually making the purchase. The brief does not have to accommodate inherited assumptions about who the buyer is or what she is waiting for. That is not a small advantage. In a category where the dominant creative language was built around a buyer who is no longer the one making the decision, starting without that inheritance may be the most powerful creative position available.
The woman wearing the diamond has always been visible. What is changing now is who gets to decide. The brands that build their creative around that reality will not just be more culturally relevant. They will be better positioned for every year that follows. The advertising has not caught up yet. But the buyer already has.
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