ColumnistsJan 13, 2026
2025 Was a ‘Price Up, Units Down’ Year, Here’s What That Signals for 2026 In a market defined by more selective consumers, Sherry Smith shares why execution will be independent jewelers’ key to growth this year.
SurveysJan 25, 2019
The Industry Shrank by 4% Last Year, JBT Data Shows
A healthy number of new jewelry businesses opened in North America in 2018, but not enough to offset the number of companies that closed.
Warwick, R.I.—A healthy number of new jewelry businesses opened in North America in 2018, but not enough to offset the number of companies—whether retail, wholesale or manufacturing—that closed, year-end data from the Jewelers Board of Trade shows.
The result is that the industry continued to get smaller, a trend JBT President Richard Weisenfeld said will continue for the foreseeable future, particularly among retailers.
“There is going to be a steady decrease in the number of jewelers,” he said in an interview Thursday. “As that slows down over the course of the next decade, I think what we’ll be left with in the jewelry industry is well-managed stores and well-placed manufacturers that produce the right product for the right price.”
At the end of 2018, the JBT’s listings for jewelry retailers, wholesalers and manufacturers in North America totaled 26,365, a 4 percent drop from 27,551 in 2017.
The number of retailers was down by the same percentage, shrinking from 20,757 to 19,906.
In tracking businesses exiting the industry, the JBT breaks down what it refers to as jewelry business “discontinuances” into three categories: businesses that ceased operations (closed), consolidated via a sale or merger, or filed for bankruptcy.
While the JBT saw a dramatic spike in bankruptcies during the Great Recession, the story the past few years has been jewelers closing their stores, and that continued in 2018.
JBT data shows that 738 retailers closed in North America last year, a 5 percent increase from the 706 who closed in 2017.
The United States lost 706 retailers, up 4 percent from 678 in 2017.
The region of the U.S. with the most retail closures was the Southeast at 202, followed by the Northeast (162) and the Southwest at 117.
The Northwest recorded the fewest number of jewelry store shutdowns (21), though it should be noted that regional trends for store closures do, to an extent, correlate to population; there are more closures in regions where there are more people and, therefore, more stores to begin with.
In the JBT’s regional breakdown, the Northwest includes some of the country’s most sparsely populated states, such as Alaska, Montana and Wyoming, while the Southeast and Northeast include some of the most crowded, states like Florida, New York and Pennsylvania.
Weisenfeld allowed that a portion of the industry shrinkage is attributable to the fact that not all new businesses are joining the JBT.
He
said there are probably thousands of small jewelry businesses out there that sell online, through social media and/or in non-traditional retail spaces, like showrooms and craft fairs, and conduct their business using credit cards or mobile payment systems like Venmo. They don’t see the need to join JBT.
However, he said, most of the industry shrinkage is due to the closure of traditional brick-and-mortar stores, which fall into two categories.
First, those are the stores that want to stay in business but are struggling due to factors such as having the wrong lines, being in a bad location or in an area with a shrinking population. Weisenfeld said they opt to do a going-out-of-business sale and set off in a different direction, or open a new store somewhere else.
Then those are those well-run operations with solid market share that carry better brands but have owners who are in their late 60s or early 70s and want to retire. Their children might help at the store, Weisenfeld said, but they don’t want to be the owners; they don’t like the hours or the income potential.
“It’s just not the lifestyle that kids want these days. The idea of being in a store six days a week … is just not what they are looking for.”
Jewelry business consolidations and bankruptcies—the other two forms of business discontinuances tracked by JBT—also rose slightly between 2017 and 2018.
There were 157 consolidations among retailers, wholesalers and manufacturers in North America in 2018, up from 151 the year before, and 34 bankruptcies, up from 29 in 2017.
New businesses in North America, meanwhile, totaled 230, up from 166 in 2017, a 39 percent increase.
In the U.S., there were 183 new retailers last year (up from 131 in 2017), 24 new wholesalers (up from 13) and 15 new manufacturers (up from 12).
However, he said, most of the industry shrinkage is due to the closure of traditional brick-and-mortar stores, which fall into two categories.
First, those are the stores that want to stay in business but are struggling due to factors such as having the wrong lines, being in a bad location or in an area with a shrinking population. Weisenfeld said they opt to do a going-out-of-business sale and set off in a different direction, or open a new store somewhere else.
Then those are those well-run operations with solid market share that carry better brands but have owners who are in their late 60s or early 70s and want to retire. Their children might help at the store, Weisenfeld said, but they don’t want to be the owners; they don’t like the hours or the income potential.
“It’s just not the lifestyle that kids want these days. The idea of being in a store six days a week … is just not what they are looking for.”
Jewelry business consolidations and bankruptcies—the other two forms of business discontinuances tracked by JBT—also rose slightly between 2017 and 2018.
There were 157 consolidations among retailers, wholesalers and manufacturers in North America in 2018, up from 151 the year before, and 34 bankruptcies, up from 29 in 2017.
New businesses in North America, meanwhile, totaled 230, up from 166 in 2017, a 39 percent increase.
In the U.S., there were 183 new retailers last year (up from 131 in 2017), 24 new wholesalers (up from 13) and 15 new manufacturers (up from 12).
More on Surveys
The Latest
IndependentsJan 13, 2026
Orr’s Jewelers Opens New Location in Pittsburgh’s Strip DistrictThe family-owned jeweler’s new space is in a former wholesale produce market.
CrimeJan 13, 2026
Alleged Getaway Driver Charged in Florida Jewelry Store RobberyIvel Sanchez Rivera, 52, has been arrested and charged in connection with the armed robbery of Tio Jewelers in Cape Coral, Florida.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingJan 13, 2026
Rio Grande To Offer Calibrated Diamond MeleeThe supplier’s online program allows customers to search and buy calibrated natural and lab-grown diamond melee, including in fancy shapes.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJan 13, 2026
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
EditorsJan 12, 2026
Platinum, White Gold Rule the 2026 Golden GlobesAssociate Editor Natalie Francisco highlights her favorite jewelry moments from the Golden Globes, and they are (mostly) white hot.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
GradingJan 12, 2026
Peter Yantzer, Former Executive Director of AGS Labs, Dies at 77 Yantzer is remembered for the profound influence he had on diamond cut grading as well as his contagious smile and quick wit.
MajorsJan 12, 2026
These 14 Macy’s Locations Will Close This YearThe store closures are part of the retailer’s “Bold New Chapter” turnaround plan.
MajorsJan 12, 2026
Jewelers Mutual Acquires AI-Powered Event Insurance ProgramThrough EventGuard, the company will offer event liability and cancellation insurance, including wedding coverage.
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
