2022 brought a decrease in jewelry store closures and an increase in store openings compared to 2021.
The Jewelers Board of Trade reports that 353 U.S. jewelry retailers stopped doing business in 2022.
That’s down from 424 businesses that closed in 2021.
Of those, 272 fell into the category of “ceased operations,” while 80 were listed as “consolidations (sale/merger)” and one was in the “bankruptcies” category.
Counting wholesalers and manufacturers along with retailers, 436 U.S. jewelry businesses closed their doors in 2022. That’s compared with 536 in 2021.
Meanwhile, 379 jewelry retail businesses opened their doors in the U.S. in 2022. That was up from 323 in 2021.
4th Quarter
JBT reported that 47 U.S. jewelry retailers closed their doors in the fourth quarter of 2022.
That number represented an decrease from 79 closings in the fourth quarter of 2021.
The total included 35 retailers in the category of “ceased operations” as well as 12 “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 59. That was a decrease from 103 in the fourth quarter of 2021.
Meanwhile, JBT reported that 87 new retailers opened their doors in the U.S., up from 91 in the fourth quarter of 2021.
The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 108. That was up from 106 new businesses in the year-ago quarter.
JBT listed a total of 17,887 jewelry retailers in the U.S. as of the fourth quarter of 2022, down from 18,336 in the same quarter a year ago.
The group listed 23,583 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 24,162 in the fourth quarter of 2021.