A new report by the Jewelers Board of Trade (JBT), quoted by IDEX Online, shows that the US jewelry sector shrank again in Q2 2023, losing a total of 462 retailers and more than 100 wholesalers and manufacturers.
The JBT’s total listing of retailers, wholesalers, manufacturers and retailers fell by 2.4% year-on-year, “down from 23,999 in Q2 2022 to 23,424,” according to the report. In Q1 2023, total listings were lower by 522 (2.2%) and in Q4 2022 total listings were lower by 579 (2.4%).
During the quarter, 84 new retailers opened for business, as well as 24 wholesalers and eight manufacturers. In the same period 174 businesses, primarily retailers, ceased trading.
