The total number of crimes committed against U.S. jewelry firms increased 19.5 percent last year, according to the just-released 2020 annual crime report from the Jewelers’ Security Alliance.
There were 1,718 such crimes in 2020 compared with 1,438 the year before.
At the same time, dollar losses from crimes against U.S. jewelry firms decreased 17.6 percent. Such losses totaled $83.2 million in 2020 versus $101 million in 2019.
“JSA urges all jewelry firm owners and their employees to spend time reading and discussing this Report, examining the serious risks that every jewelry business faces, and taking appropriate steps to reduce risk,” the organization stated. “Jewelry burglaries, robberies and thefts happen everywhere: small towns, big cities, malls, strip centers and free standing stores coast to coast.”
More key findings from the report:
The number of on-premises burglaries increased from 327 in 2019 to 633 in 2020, an increase of 93.6%. In 2020 JSA received reports of 323 burglary incidents involving the looting and civil unrest from May to August totaling $14.3 million. There was also a great deal of property damage not included in that total.
Smash and Grab robberies declined from 130 in 2019 to 96 in 2020. The decline is credited to the work of the FBI and local law enforcement agencies that arrested a major smash and grab robbery crew.
The total dollar losses of off-premises crimes increased from $14.5 million in 2019 to $16.1 million in 2020. In 2019 JSA received only one report of an off-premises crime of over $1 million, compared to five in 2020 with losses of over $1 million each.
Read the full report here.
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Closing With Confidence: How Bailey's Fine Jewelry Achieved Outstanding Results With Wilkerson
When Trey Bailey, President and CEO of Bailey's Fine Jewelry, decided to close the Crabtree location in Raleigh, North Carolina after 15 years, he knew the decision needed to be handled with intention and professionalism. The goal was clear: exit the location while maintaining financial strength and honoring the store's legacy.
Having worked with Wilkerson successfully in the past, Bailey understood the value of their comprehensive approach. "They understood both the emotional and financial sides of the store closing sale," Trey explains. "Their reputation for professionalism, results and care made it a very easy decision."
The results exceeded expectations. Wilkerson helped Bailey's sell through significant inventory while maintaining the dignity of the closing process. "They don't just run a sale, they help close a chapter in the best way possible," Bailey says, strongly recommending Wilkerson to any jeweler facing a similar transition.
