Silver Steps Up
The jewelry industry benefits from the marketing of gold, platinum, and now even palladium. Today silver also jumped into the metal-marketing mix. The Silver Institute, a non-profit association of silver miners, refiners, bullion suppliers, manufacturers, and other silver industry members announced it would fund a new campaign to market silver jewelry to consumers. The silver marketing initiative will combine what the institute describes as a “media and grassroots campaign” to increase awareness and encourage consumers to buy sterling silver jewelry. Although it’s not clear if that will include consumer advertising, the Silver Institute is following gold’s lead in one way: it has hired Michael Barlerin Associates as a marketing consultant. Barlerin was CEO, Americas of World Gold Council for 15 years. Why silver, why now? The institute has funded advertising in the past but has been largely absent from all jewelry industry marketing or PR for years. “The consensus of our executive committee is that the time is right to introduce an industry-supported marketing program in the U.S., with the initial focus being on silver jewelry,” explains Michael DiRienzo, the institute’s executive director. With silver recently named the top jewelry trend by Modern Jeweler, we do agree that the timing couldn’t be better.
Everyone wants white metal under their diamonds. With rising metal prices, it makes sense that people would turn to silver - it’s certainly better-known than palladium.
I know of several people who are shifting their gold jewelry collections to silver. It seems that it is becoming more common to see silver on the people I meet. I am looking into rhodium plating silver for added protection for the silver and protecting against tarnishing. The tarnish and constant need of cleaning could be a major contributor to holding back silver jewelry sales.