ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
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
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
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.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
