US platinum jewelry sales see sustained growth

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Sustained growth in US platinum jewelry sales in the last quarter of 2021 resulted in a record performance for the full year, according to Platinum Guild International’s Platinum Jewellery Business Review Q4 2021.

PGI’s strategic partners in the US market reported their best-ever business performance for 2021, with an average of 30% YoY growth during the last quarter, with almost all platinum products sales rising double digits.

PGI

Picture credit: PGI

The success of the grant program, designed to turbo-charge the growth in US platinum jewelry business by inspiring manufacturers and retailers to make platinum an important focus of their business, was clearly evident.

Grant recipients Helzberg, Memoire and Kwiat, expanded their platinum business at a fast pace, ranging from 40% to triple-digit growth in Q4, all significantly exceeding expectations, as the companies aligned their merchandising, marketing, education, and customer experience efforts to focus on the platinum category. Several grant recipients also rolled out new exclusive platinum designs in time for holiday shoppers. 

Julie Yoakum, Senior Vice President and Chief Merchandising Officer for Helzberg Diamonds, shared, “The grant from Platinum Guild allowed us the opportunity to place more robust platinum jewelry content in front of consumers across a variety of marketing channels. As a result, we have increased customer engagement and improved awareness. More customers are choosing platinum for their engagement and wedding ring purchases; they see the intrinsic value in this rare and enduring precious metal.”