US Jewelry Sector Shrinks Again
January 16, 25
(IDEX Online) - The US jewelry sector shrank again during the final quarter of 2024, with 753 fewer retail, wholesale and manufacturing businesses than there were a year earlier.
The Jewelers Board of Trade (JBT), which provides commercial credit information, today (16 January) announced a 3.2 per cent reduction, a marginal improvement on the 3.3 per cent stop during the previous quarter.
There are currently 17,124 jewelry retailers in the US, 3,824 wholesalers and 2,155 manufacturers, according to the JBT statistics, which take account of new businesses as well as ceased operations.
During the fourth quarter, 158 businesses stopped trading. Of those, 23 were sold or merged (mostly retailers). There was only one recorded bankruptcy.
A total of 90 new retailers opened during the quarter, together with eight wholesalers and five manufacturers.