Headlines

Jewelry Industry Crimes Hit Record Level in 2022, JSA Reports

The total number of crimes committed against U.S. jewelry firms was 2,211.

Published

11 months ago

June 12, 2023

INSTORE Staff

JSA has released its 2022 Annual Crime Report which described how the number of

Crime against the U.S. jewelry industry reached a record level in 2022, the Jewelers’ Security Alliance reports.

The total number of crimes committed against U.S. jewelry firms was 2,211 — the highest number of crimes JSA has ever recorded, according to a press release. The number of crimes in 2022 represented an increase of 31.1% from 2021, when 1,687 crimes were reported to JSA.

“Soaring crime needs to be a concern for the entire diamond, jewelry and watch industry,” said John Kennedy, president of JSA. “This Report can help jewelers become better prepared for the dangerous crime risks they face every day, and can alert law enforcement agencies to the serious crime risks of the jewelry industry.”

Other results from the report:

In 2022 the total dollar losses from crimes against U.S. jewelry firms reported to JSA was $129.4 million, an 84.6% increase from $70.1 million in 2021.
Distraction thefts increased from 91 events in 2021 to 195 events in 2022. Burglaries increased from 311 in 2021 to 484 in 2022,.Smash and grab robberies increased from 85 in 2021 to 169 in 2022.
The number of off-premises crimes reported to JSA increased from 34 in 2021 to 65 in 2022. Crimes committed at trade shows increased from 2 reports in 2021, to 20 reports in 2022. The average jewelry trade show loss in 2022 was $243,000.
The dollar losses from crimes against U.S. jewelry firms reported to JSA for the 21-year period 2002 to 2022 totaled $2.5 billion on an inflation adjusted basis.

Kennedy “urged all jewelry firm owners and their employees to spend time reading and discussing the report, examining the serious risks that every jewelry business faces, and taking appropriate steps to reduce risk,” according to the release.

JSA is a non-profit trade association providing crime prevention information and services to the jewelry industry.

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

click to Comment(Comment)

Up Next

Father’s Day Spending Expected to Hit Record

Don't Miss

U.S. Labor Market Keeps Growing

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”