Apparently gold and platinum are being kicked to the side for metals such as Palladium (see my other article: Palladium To Become Metal of Choice) and now Silver. Silver has always been looked at as the redheaded stepchild in the jewelry world, but the recently launched Silver Marketing Initiative (SMI) is expanding its outreach to the jewelry industry in an effort to pull silver out of the shadows. Not since 2001 has there been a structured marketing effort in place for sterling silver jewelry.
The SMI started off in 2009 with an exhibit at the recently concluded Manufacturing Jewelers and Suppliers of America (MJSA) Expo Show, held at the Jacob K. Javits Convention Center in New York City.
Many employees and administrators at SMI were gratified by the industry’s enthusiasm for the marketing group at the MJSA Expo. The two most frequent voiced comments were, “It’s great that there is now an organization whose objective is the promotion of silver jewelry” and “The timing for an initiative such as this couldn’t be better. It is definitely the Season of Silver.”
Plans are now being finalized for participation in both the JCK Las Vegas show in May and in the JA New York summer show in July.
Silver doesn’t think that the economy is the only thing that can have fun with Stimulus Plans...
Among the SMI’s short-term objectives is a “Silver Stimulus Plan,” which includes expanding the number of participating designers and branded lines, further developing the SavorSilver.com website and introducing the new Silver Mark at retail.
The most crucial aspect of this Stimulus Plan was choosing the initial 10 designers to be featured on the Website, which will include links to the respective designer’s individual sites. SavorSilver.com will not itself include e-commerce but consumers who click on the designers’ individual Web sites can either buy directly or find a retailer who sells the brand.
With the prediction of Palladium and Silver taking over the precious metals industry, the question arises—can gold and platinum keep up? Or does this failing economy mean the death of traditional luxury metals? My prediction is as the PR for alternative means of jewelry take center stage, consumers may lose the need to flaunt expensive pieces.
Photo Credit: JC Penny
