Connect with us

Big Survey

Half of Jewelers Made $100,000 or More in 2020

“Fewer store hours hasn’t hurt us.”




Half of Jewelers Made $100,000 or More in 2020

ACCORDING TO THE INSTORE 2021 Big Survey, 49 percent of jewelers earned $100,000 or more in 2020, with 12 percent of those earning more than $250,000.

That is up from 2019, when only around 35 percent of jewelers broke through six-figure earnings.

In another surprise INSTORE 2021 Big Survey result, sales improved for some 66 percent of jewelers during the lockdown year of the pandemic.


Jewelers said that customer and staff loyalty, community resiliency and adaptation to new conditions had all contributed to better-than-expected business results, while others said that the pandemic had forced changes that happened to be good for business.

“We lost customers, we lost staff … [but] we gained new customers and improved our mindset regarding discounting (which we basically stopped) and a few other things which unified us and made us stronger,” said one respondent.

“Fewer store hours hasn’t hurt us,” said another jeweler.

The 2021 Big Survey was carried out between August and September, attracting more than 600 anonymous responses from owners of independent jewelry stores across the United States and Canada. The full results will be published in the upcoming November issue of INSTORE.



It’s Going to Set Us Up Very Nicely for Retirement

You’ve worked hard all your life. And if you’re like most jewelers contemplating retirement, you’re hoping that your going-out-of-business sale will add to your nest egg — with minimal complications. That’s exactly what Doug and Jacki Friedrich, fourth-generation owners of Friedrich Jewelers Inc., of Vernon, Conn., experienced when they selected Wilkerson to run their sale. “Jewelers who are contemplating a sale should go with Wilkerson because of their experience,” says Doug. And with financial goals “exceeding expectations,” the couple can now focus on enjoying the next chapter of their lives. “It’s going to set us up very nicely for retirement,” says Jacki. “The money’s coming in and we have no complaints. It’s been wonderful.”

Promoted Headlines

Most Popular