US Jewelry Sector Shrinks Again in Q1
April 28, 25
(IDEX Online) - The decline in the US jewelry sector continues, with yet another drop in the number of retail, wholesale and manufacturing businesses.
The total number fell by 3.4 per cent - just under 800 businesses - to 22,330 year-on-year, according to the latest update from the Jewelers Board of Trade (JBT), which provides commercial credit information. The figures take account of both closures and new business openings.
The figure for the previous quarter, Q4 2024, was -3.2 per cent, and for Q3 2024 it was -3.3 per cent, indicating a steady rate of decline.
The biggest fall in Q1 2025 was among jewelry manufacturers, down 4.6 per cent to 2,119. The number of retailers fell 3.5 per cent, down to 16,959 and the number of wholesalers fell 2.5 per cent to 3,252.
JBT reported the opening of 68 new retail jewelers in the US during Q1.