A new report by JBT (Jewelers Board of Trade) on the state of the US jewelry sector in Q4 2022 – retailers, wholesalers and manufacturers – shows that the sector is shrinking, according to IDEX Online.
The number of manufacturers in Q4 2022 was 2,412 – down 3.1% year-on-year. The number of retailers fell 2.4% to 18,855, and the number of wholesalers fell 1.6% to 3,629. There is also a bright side, as there were no reported bankruptcies in Q4 2022. In addition, 87 new jewelry retailers, 17 wholesalers and four manufacturers opened shop in the same period.
According to the report, “the majority of the decrease overall was accounted for by ceased operations and a handful of retail consolidations.”
