The Jewelers Board of Trade reports that 424 U.S. jewelry retailers stopped doing business in 2021.
That’s down from 495 businesses that closed in 2020.
Of those, 331 fell into the category of “ceased operations,” while 91 were listed as “consolidations (sale/merger)” and two were classified as “bankruptcies.”
Counting wholesalers and manufacturers along with retailers, 536 U.S. jewelry businesses closed their doors in 2021. That’s compared with 605 in 2020.
Meanwhile, 323 jewelry retail businesses opened their doors in the U.S. in 2021. That was up from 126 in 2020.
4th Quarter
JBT reported that 79 U.S. jewelry retailers closed their doors in the fourth quarter of 2021.
That number represented an increase from 74 closings in the fourth quarter of 2020.
The total included 55 retailers in the category of “ceased operations” as well as 24 “consolidations (sale/merger).” There were no retailers in the bankruptcy category.
The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 103. That was an increase from 91 in the fourth quarter of 2020.
Meanwhile, JBT reported that 91 new retailers opened their doors in the U.S., up from 34 in the fourth quarter of 2020.
The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 106. That was up from 40 new businesses in the year-ago quarter.
JBT listed a total of 18,201 jewelry retailers in the U.S. as of the fourth quarter of 2021, down from 18,512 in the same quarter a year ago.
The group listed 23,979 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 24,429 in the fourth quarter of 2020.