With the jewelry industry in a continuous state of change, it’s crucial for jewelry professionals to stay informed. Our latest Quarterly Vital Statistics Report for the fourth quarter has you covered. Keep reading for a snapshot of what our data revealed about the market landscape for jewelry businesses in 2024.

New Businesses: During Q4, 104 new businesses were added to the JBT database, a 28.4% increase compared to this period last year.  This increase could be a cause for optimism, indicative of potential growth expectations. Year-to-date, 403 new businesses have been added to the database, which is a minor decrease of 3.1% compared to 2023.

Closures: A total of 137 businesses shut their doors, a 3.0% increase in closures compared to this quarter last year. Year-to-date, 642 businesses have ceased operations, a 14% increase compared to 2023. Overall, business closures have slowed over the past year and seem to be normalizing.

Consolidations: There were 23 businesses that experienced sales or mergers in Q4, a 22.9% increase compared to this period last year. 102 businesses total have consolidated year-to-date.

Total Listings: In Q4, JBT recorded 23,842 total listings, 18,071 of which were retailers, 3,495 wholesalers, and 2,276 manufacturers. Retailers saw a 3.2% decline, wholesalers a 2.7% decrease, and manufacturers a 4.1% drop.

Credit Rating Changes: There were 1,309 businesses total that experienced credit rating changes in Q4, including 677 increases and 632 decreases. For the same period last year, there were 692 rating increases and 595 decreases.

Conclusion: In the final months of 2024, the jewelry industry saw mixed changes: a rise in new businesses, a leveling out of business discontinuances, and a slight increase in credit rating adjustments. 

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