The Basics

The 2023 Big Survey was built from the contributions of over 750 North American jewelers. Here we break down where they come from and the types of jewelry businesses they operate.

Published

6 months ago

November 5, 2023

INSTORE Staff

65. Where is your store located by region?

The Big Survey 2023: The Basics
*Including Hawaii, Alaska, and the Rockies

66. How would you describe the market where your store is located?

Big urban market
7%
Suburban outskirts of a big urban market
17%
Medium-sized city (250,000-1 million people)
18%
Small city (25,000 to 250,000)
31%
Country town (up to 25,000)
22%
Resort area
4%

67. Where is your (main) store located?

In an enclosed mall
2%
In a strip mall
22%
A downtown shopfront
32%
In its own free-standing building
29%
In a lifestyle center
4%
Office building/Business park
7%
Home studio
2%
The whole world – we’re online
0.5%
Other
2.5%

68. Which description of your business do you most closely identify with?

The Big Survey 2023: The Basics

69. In what state is your (main) store located?

The Big Survey 2023: The Basics
The 2023 Big Survey attracted responses from jewelers in 48 U.S. states and Canada. Pennsylvania led the way with 39 responses, while pound for pound the biggest contributor was a small state with a proud jewelry manufacturing history — Rhode Island. The survey launched in September and ran for six weeks. Most questions attracted over 400 responses.

70. How many stores do you operate?

The Big Survey 2023: The Basics

71. Which category is your business’s “strong point” (the category that helps you stand out from the competition)?

Bridal
35%
Custom design
28%
Repairs and other general jewelry services
15%
Colored gemstones
5%
Fashion jewelry
4%
Estate
3%
Branded jewelry
3%
Watches
2%
Silver
1%
Gold buying/pawn services
1%
Other
2%

72. What is the total square footage of your (main) store?

Less than 500 sq feet
4%
500-999 sq feet
12%
1,000-1,499 sq feet
22%
1,500-1,999 sq feet
16%
2,000-2,499 sq feet
13%
2,500-2,999 sq feet
6%
3,000-3,499 sq feet
7%
3,500-3,999 sq feet
3%
4,000-5,000 sq feet
6%
More than 5,000 sq feet
10%
NA
1%

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.”