Marketing silver as the new gold

When it comes to silver jewellery, no one can deny Tiffany & Co., does an excellent job of marketing high-end silver jewellery as desirable. From its vast selection of silver pieces and price points starting under $250 to just over $1000, Tiffany provides the masses with affordable luxury and has its branding down to a fine art.

Yet, is branding a deal breaker when it comes to instilling desire among consumers for pricier silver jewellery? Gizzi doesn’t think so. “Branding has helped increase awareness and consumer desire for high-end silver jewellery and in turn, opened the door for less-known or emerging designers,” she explains. “Design, price, and style are factors that are heavily weighted when purchasing high-end sterling silver. The addition of precious stones also adds to consumer confidence and helps move merchandise.”

So, how can your company make high-end silver jewellery part of its signature brand? Ridout believes the proof is in the pudding. “My best advertising is the client who wears a bracelet of mine every day of her life,” she says. “The piece becomes part of their unique style and other women notice the jewellery and compliment them on it.” Ridout adds that an unsolicited testimonial will get you a new client every time.

Having a wide selection and the latest in high-end silver designs to present to your clients can be the biggest advantage to making that sale. Also, offering customized pieces and/or incorporating coloured gemstones or diamonds can help high-end silver jewellery stand up to gold, while creating a perfect balance of glamour and everyday wear.

“I have noticed a lot of designers are choosing to pair silver with diamonds,” Shigetomi says. “And that’s simply because customers and stores are requesting it—there is demand in the marketplace.”

Selling high-end silver jewellery can also provide retailers with a fabulous opportunity to attract a new type of buyer—one that is focused on trends. “Silver jewellery can be promoted as an accessory and an essential part of fashion,” Gizzi says. “Women shop seasonally for their wardrobes, and bringing in the fashion-focused female buyer can help expand sales.”

To sell high-end silver jewellery, you as the jeweller have to make it just as coveted and special as any gold piece. Think about presentation. Maybe a beautiful leather-bound case is the way to go, as it can convey to the customer they are buying something of quality that warrants this type of treatment.

“Customers are also aware there is a lot of cheap silver jewellery bombarding the market these days,” Shigetomi says. “So educating them on the quality of your product is essential.” She recommends showcasing your high-end silver jewellery’s uniqueness with support material. This is key to helping customers appreciate the value of the purchase and you ultimately making a sale. Sale cards with information about the jewellery you carry can shed some light on what makes it special. Think inspirational tidbits behind the piece or interesting facts about the designer—anything that will give credibility and appeal to the line.

Often, high-end silver jewellery is handmade, one-of-a-kind, and expertly crafted. Customers may wonder why a sterling silver necklace is $900, but when you take the time to point out the intricacies, these pricier pieces may start to take on a new light.

Of course, when it comes to making that sale, throwing in a few extras such as free silver polishing and maintenance can help allay fears this metal needs rigorous polishing to keep it looking good.

With just a little ingenuity, customers can come to see the sterling value of incorporating high-end silver pieces into their jewellery collections.

Sara Duck has been bringing her passion for style and trends to the publishing world since 1999. Her work has graced the pages of top Canadian magazines, including Images, Weddingbells, and Fashion 18. Along with freelance writing, she is currently the managing editor of Home and Décor magazine.