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US Jewelry Industry Crimes Rise Nearly 20%, but Dollar Losses Decline

The Jewelers’ Security Alliance has released its annual report for 2020.




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.




When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”

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