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Jewelry Retail Is Among the Whitest Sectors in the US Economy

Big Survey finds 92% of owners and managers are white.




Jewelry Retail Is Among the Whitest Sectors in the US Economy

THE INDEPENDENT JEWELRY retail segment is among the most racially homogenous in the U.S., with more than 92 percent of participants classifying themselves as white, according to the 2021 INSTORE Big Survey. Three percent of the respondents identified as Hispanic, 3 percent as multi-racial and 2 percent Asian. None of the almost 400 jewelry store owners or managers who answered this particular question is African American.

By comparison, whites account for about 78 percent of the overall American workforce and according to U.S. Bureau of Labor Statistics, such a racial makeup means jewelry retail is one of the whitest sectors in America, lagging only veterinarians, ranchers, pilots, millwrights, steel workers, doctor’s office staff and a couple of other small job categories in its lack of diversity. It’s even whiter than the C-suite of big corporate America (90.6% white)!

The family-run nature and the way ownership of jewelry stores – and the associated skills — are often handed from generation to generation no doubt explains some of this racial homogeneity. Although it is also arguable that would be healthy if the segment were to evolve to more fully represent the country’s cultural richness and include more influences and personalities from outside the dominant racial group.

The 2021 Big Survey was carried out between August and September, attracting almost 700 anonymous responses from owners of independent jewelry stores across the United States and Canada. The full results are available online here and in the November issue of INSTORE.


Chris Burslem is Group Managing Editor at SmartWork Media.



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.”

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