The number of jewelry businesses in the United States continued to shrink in Q4 2024, with a net decrease of 753 businesses compared to the same period in 2023, according to IDEX Online.
According to the report, the Jewelers Board of Trade (JBT) stated that the fourth quarter saw a 3.2% decline in the number of active jewelry businesses, including retailers, wholesalers, and manufacturers. This marks a slight improvement compared to the 3.3% decline recorded in the previous quarter.
As of the end of 2024, the JBT database recorded a total of 17,124 jewelry retailers, 3,824 jewelry wholesalers, and 2,155 jewelry manufacturers operating in the U.S., reflecting both new business openings and closures.