Jewellery trends: silver offers style and value

2.3 k views | Posted April 27, 2012 | By Aaron Weinman

Once the poor second cousin of gold, silver jewellery has become a cool, contemporary style icon in its own right. AARON WEINMAN reports how leading brands have to rethink how silver is used in designs.

Looking at the comparative prices of an ounce of silver compared to an ounce of gold, you may wonder why it’s worth comparing the two metals. Yes, silver is and probably always will be inferior to gold in terms of monetary value, but this versatile metal is proving its worth in many ways to jewellers.

Although silver is seen as a cost-effective method of crafting jewellery, it would appear consumers place silver jewellery very high on their style radars. Sterling silver is utilised profusely throughout a variety of fashion jewellery lines all over the globe and personalised pieces like charm bracelets and engagement rings all employ the services of this versatile metal.

Jeweller Renee Blackwell of Renee Blackwell Designs specialises in silver jewellery and believes the metal’s emergence stems from a lot more than it being a simpler, more affordable option for purse-tightening jewellers.

She says silver’s versatility allows designers to think outside the square and create “unusual designs,” and she believes silver enables jewellers to stock “one of a kind pieces rather than stamped out mass produced low-end silver.”

“The cost of gold may be a primary reason for the shift, but I think better and more unusual designs can be crafted from silver,” Blackwell says. “Jewellers who traditionally relied on selling gold have turned to silver because of the designs available.”

Despite its contemporary emergence, silver jewellery has always been Blackwell’s focal point of design. A self-confessed silver enthusiast, Blackwell says silver is easier to work with than gold because the metal works better when conjuring new designs.

“As long as you keep your look new and fresh, silver jewellery will always remain popular,” Blackwell suggests. “I have found my stockists are always excited to find a new silver range that features unique designs.”

Silver shines bright
According to a survey conducted by the US-based Silver Promotion Service and Nielsen, silver represents 37 per cent of jewellers’ unit sales. Moreover, 77 per cent of businesses surveyed said silver sales increased in 2011. While the statistics only reflect US figures, there is no doubting silver’s emergence locally either.

In a market where consumers dictate the terms of style and what’s a worthy investment for jewellers, these statistics reflect a clear trend in fashion towards silver.

Joanne Omer, director for Melbourne-based brand Blingissimo Italy, which specialises in Italian sterling silver jewellery, has a different spin on the results. She says the silver jewellery industry is actively driving the trend towards the metal through creativity in design and being the catalyst for change in fashion jewellery. Omer believes silver has left gold “for dead” and termed it as an “old-fashioned metal.”

“Silver became fashionable and this was brought out in today’s contemporary jewellery styles,” Omer says. “If you add the fact that platinum is seen as exclusive, this enabled silver to piggy-back on platinum’s prestige and changed people’s perception of silver.”

While the value of silver jewellery bears no comparison to gold’s monetary value, Blackwell says the versatility of silver has enabled it to become a viable alternative. She has begun mixing the two metals in her pieces and says while there are distinctly different values between the two each has its own place within the precious metal family unit.

“I’ve never viewed silver as the ugly sister in the precious metal family,” Blackwell says. “I’ve even started mixing metals more, for example some of my rings I now offer with 18ct gold. Combining gold and silver elevates the look of pieces and its value.”

Targeting Gen-Y
Silver’s initial emergence owed a lot to the popularity it garnered across the generation Y demographic, however Blackwell not only believes in silver’s revised perception across the market, she also says the contemporary metal appeals to a wider demographic.

“There is no doubting that silver in the past was catered to a younger clientele, but now with fresh and new designs, silver’s market has changed to a wider population,” Blackwell says. “Throw in the popularity of mixed gold and silver designs as well, you have jewellery that appeals to a more ‘mature’ customer.”

While the last few years have seen silver jewellery pieces crop up everywhere, the way the trend has been exposed to the Gen-Y market proved an invaluable tool in silver jewellery’s growth and its place in today’s marketplace.

Combining trends with the Gen-Y demographic has allowed brands to build their image off the back of silver’s success. Omer’s Blingissimo label is testament to the increased success of the flexible metal.

“As a brand we’ve built our reputation on silver pieces and gold is seen as an accompaniment to our new ranges,” Omer says. “Being in the Australian market and looking at the same things for a while, like gold and its traditions, it’s important to get the consumer to understand there is more involved in fashion jewellery.”

Charmed phenomena
It’s hard not to attribute the rise of silver jewellery at least in part to the Pandora phenomena. Charm bracelets and beaded jewellery crafted from the adaptable metal has become a staple in today’s jewellery marketplace and the Danish giants, along with Chamilia and Thomas Sabo, have certainly cornered the silver jewellery market.

“After Pandora’s influence on the market, silver has evidently played a huge part in revolutionising fashion jewellery,” Omer believes. “Jewellers had to innovate after the price of gold escalated, and eventually it’s evolved from a temporary trend to a fashion statement that’s here to stay.”

But what’s next for silver jewellery? Pandora’s charm and bead epidemic may have set the tone for silver’s emergence, but evolution is imminent for the precious metal and jewellers need to exploit what’s new in an attempt to take silver to the next level, especially with fashion-forward Gen-Y folk as its target demographic.

The silver future
As Blackwell says, the popularity of combination metals in jewellery is something expected to take off this year. Jewellery and watch brands are both tinkering with the likes of two-tone pieces including rose gold, yellow and white gold with silver contrasts.

Connecting with the Gen-Y demographic has been made easier with the emergence of social media. The wide appeal silver jewellery has had on this market has been successful because they’re the largest consumer group in the world. According to Lifelounge Urban Market Research, Australian Gen-Yers spend $48 billion annually on what’s deemed “hedonistic pursuits,” such as entertainment, fashion, sport, travel and music.

As a result, jewellers, particularly silver jewellery brands, need to connect with this demographic now and shape their trends well into the future. Sydney-based consumer psychologist Adam Ferrier, of advertising agency Naked Communications, says attracting the eyes and ears of this influential demographic is imperative for success.

“The younger someone is into your brand, the more lifetime value you can extract from them,” Ferrier believes.

While baby boomers are all about creating, saving and building their family nests, Gen-Y feels an attachment to trends and styles, all things fashion.

Jo Tory, head designer and founder for local jewellery brand, Najo, says Gen-Y’s consumption patterns dramatically changed the perception and the reputation of silver jewellery. She says silver’s popularity over the last five to 10 years is a direct result of new-age urban style.

“I think the beauty and enduring quality of silver is finally having a broader appreciation,” Tory says. “Being more affordable than gold is simply part of its appeal, but silver is very different.”

Tory believes the emergence of strong brands is another important factor when assessing silver’s increase in popularity, particularly across fashion jewellery. She says the future of silver jewellery is far more secure than originally foreseen when it first began emerging on the marketplace.

“I don’t think silver was ever overshadowed by gold as such, I think it’s very different to gold and people either love silver or not, despite its versatility,” Tory believes. “However now that there is demand for silver jewellery in the fashion area of design, there is a much broader appeal.”

Similar to Blackwell, Tory is another prominent Australian jeweller hoping to capitalise on current trends. Mixing metals and appealing to a variety of generations is the latest recipe for silver success according to Tory.

“The biggest trend is silver mixed with other metals for a two-tone or tri-tone effect, along with pastel stones and pearls,” Tory says. “Silver jewellery, in my opinion, spans all ages, demographics and all tastes, there is such a variety.”

But with all the variety and potential success on offer, what seems to be working for silver jewellery besides mixed metals? More importantly, what can retailers and suppliers expect or predict the silver crowd to be wearing?

Chunkier designs alongside chokers and long necklaces are a strong look according to Tory. She says Gen Y trends like big cocktail rings, layered necklaces, stackable bangles and bracelets will continue to thrive this year.

“You will often find that Gen Y-ers are so receptive to fashion, they love to dress up and wear lots of big statement jewellery,” Tory says.
Laurian Ryan, designer for Sydney-based jewellery brand Pastiche, says the company’s ranges for 2012 encompass the latest trends in silver jewellery. Striking products set in sterling silver, stainless steel and bronze highlight Pastiche’s latest collection and Ryan believes silver meets today’s customer’s high standards in quality and craftsmanship.

“Silver pieces feature many different statement-like designs with products which are big, bold and incredibly light,” Ryan says. “Our statement women’s and men’s collections injected with faceted and matt ceramic is innovative in design and materials used.”

Ultimately, silver has changed the face of the jewellery marketplace, through its design, marketing and price point. Companies see silver as the future of fashion jewellery and consequently, silver has become the darling of contemporary design. The Gen-Y demographic has scurried to the versatility and intricacy of silver and this has resulted in a win-win situation for all parties involved, retailer, supplier and consumer. Originally just a cheaper option, silver has emerged into the future of the jewellery industry and it would appear it’s here to stay.