The U.S. jewelry industry continued to see a decline in the number of active businesses in Q4 2024, with a net decrease of 753 businesses compared to the same period in 2023, according to IDEX Online.
The Jewelers Board of Trade (JBT) reported a 3.2% decline in the number of active jewelry businesses, which includes retailers, wholesalers, and manufacturers. This marks a slight improvement over the 3.3% decline recorded in the previous quarter, indicating a steady but ongoing contraction in the industry.
By the end of 2024, the JBT database recorded a total of 17,124 jewelry retailers, 3,824 wholesalers, and 2,155 manufacturers operating in the United States. This decrease reflects a combination of business closures and new openings, underscoring the challenging environment for jewelry businesses across the country.
Related topics: