Jewelry Stores
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 14,000 jewelry stores in the US sell fine jewelry, silverware, watches, and clocks. As opposed to costume jewelry, fine jewelry generally contains some type of precious metal or gemstone. Companies may also create custom jewelry or provide repair services.
Seasonality Challenges
Jewelry sales are highly seasonal, and December is an exceptionally important month because of holiday gift giving.
Expanding Competition
Jewelry stores have lost market share to a variety of channels, including department stores, mass merchandisers, online retailers, and catalog and TV retailers.
Industry size & Structure
A typical jewelry store operates out of a single location, employs fewer than 9 workers, and generates $3 million in annual revenue.
- The jewelry retailing industry includes about 14,000 companies that operate 19,000 stores, employ 123,000 workers and generate about $46 billion annually.
- The jewelry industry is somewhat concentrated, as the 50 largest firms account for 45% of industry sales.
- Large companies include Signet Jewelers (Zales, Kay Jewelers, Jared the Galleria of Jewelry), Fred Meyer Jewelers, and Helzberg Diamonds.
Industry Forecast
Jewelry Stores Industry Growth
Recent Developments
Mar 10, 2025 - Supply Chain, Prices Impacted by Tariffs
- Resourcing factories, disrupting diamond flow, and raising prices are several potential impacts on the jewelry industry from new Trump Administration policies imposing new tariffs on China, Mexico, and Canada, according to a JCK Online report. Industry experts noted that companies focused on fashion jewelry with operations in China would be immediately affected by tariffs. According to Richline CEO and president Dave Meleski, the fine jewelry manufacturer is resourcing its products from its factory in China to countries not currently affected by the trade war. He said tariff volatility may negatively affect the metals market and worries that an escalation in gold prices could dampen consumer sales. The flow of diamonds from Canada may be affected by the trade wars; Canada exported some $88 million in diamonds to the US in 2023. Canada has announced a new retaliatory 25% levy on several categories of jewelry originating from the US.
- According to a report in CFO Dive, consumer confidence and spending levels, indicators of jewelry spending, fell due to consumer concerns about tariff effects. Consumer spending was down 0.5% in January 2025, according to the Bureau of Economic Analysis, as consumers reduced purchases of vehicles and other durable goods. All five components of the consumer sentiment index from the University of Michigan dropped in February, including a nearly 20% decrease in buying conditions for durable goods. In addition, the Conference Board index of consumer sentiment in February 2025 marked the biggest decline since August 2021 and the third straight month of declines. According to Stephanie Guichard, senior economist for global indicators at the Conference Board, “There was a sharp increase in the mentions of trade and tariffs, back to a level unseen since 2019. Most notably, comments on the current administration and its policies dominated the responses.”
- According to a recent report in The New York Times, jewelers are seeking out silver jewelry products as gold prices reached record levels. While silver costs approximately $30 an ounce, the price of gold was about $2,600 an ounce in December 2024 after peaking at $2,800 an ounce in October. The report found that some jewelry designers have turned to silver to make sizable and intricate pieces that would be cost prohibitive if made in gold. The lower cost of silver allows jewelers and consumers to prioritize design and creativity, according to one boutique jewelry store owner who has seen sales of silver items jump in 2024. According to Eric Gozenput, CEO at precious metals seller Bullion Exchanges, the shift to silver has influenced not only fashion trends but cultures such as India where buying gold jewelry is a deeply rooted tradition.
- Swiss exporters are expressing concerns about President Donald Trump’s proposed import tariffs for a number of industries, according to Reuters. Economists from the KOF Institute at ETH University in Zurich estimate that Swiss economic output could be reduced by up to 1% if a trade war is generated from the proposed tariffs ranging from 10% to 20%. The Swiss watch, precision instruments, food, machinery, pharmaceuticals, and appliances industries will suffer significantly from higher tariffs, according to the study. The United States is the biggest market for Switzerland’s export-oriented economy, accounting for nearly 20% of all good exports in the first nine months of 2024, per the report. Any new tariffs may take up to a year to pass through the government so impacts may not be felt until 2026.
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