New data from the Jeweler’s Board of Trade shows that more jewelry stores opened than closed in 2022, INSTORE Magazine reports. 353 jewelry businesses closed their doors in 2022, down from 424 in the pandemic-affected year of 2021. 379 businesses opened in 2022, up from 323 the previous year, for a net gain of 26 new jewelry retail businesses. In all, there were 17,887 jewelry retailers in operation at the end of 2022.
The full article breaks down openings and closings by category. It also delves into 2022 fourth quarter numbers on openings and closings, covering not only retailers but also wholesalers and manufacturers. The numbers provide an overview of the strength of the jewelry business at year’s end as we move out of a business cycle affected by an unprecedented pandemic and begin to grapple with what post-pandemic normality will look like.
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