The Jewelers Board of Trade reports that 424 U.S. jewelry retailers went out of business in 2021.
That’s down from the 495 businesses that closed in 2020.
Of these, 331 belonged to the category of “discontinued operations”, while 91 were listed as “consolidations (sale/merger)” and two were classified as “bankruptcies”.
Meanwhile, 323 jewelry retail businesses opened in the United States in 2021. That number was 126 in 2020.
Counting wholesalers and manufacturers as well as retailers, 385 U.S. jewelry businesses closed in 2021. That’s up from 152 in 2020.
JBT reported that 79 US jewelry retailers closed in the fourth quarter of 2021.
This number represents an increase from 74 closures in the fourth quarter of 2020.
The total included 55 retailers in the ‘going out of business’ category as well as 24 ‘consolidations (sale/merger)’. There were no retailers in the bankruptcy category.
The total number of jewelry businesses in the United States that closed, including retailers, wholesalers and manufacturers, was 103. This is up from 91 in the fourth quarter of 2020.
Meanwhile, JBT reported that 91 new retailers opened in the United States, compared to 34 in the fourth quarter of 2020.
The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 106. This represents an increase from 40 new businesses in the prior year quarter.
JBT listed a total of 18,201 jewelry retailers in the United States in the fourth quarter of 2021, compared to 18,512 in the same quarter a year ago.
The group listed 23,979 jewelry companies in total, including retailers, wholesalers and manufacturers. That was down from 24,429 in the fourth quarter of 2020.