If the U.S. jewelry industry loses a net of 750 businesses this year, it would be at the high end of the typical range of the annual net shrinkage of specialty jewelry businesses. But this year's projected net shrinkage of jewelry industry retail capacity would not be a record loss, industry analyst Ken Gassman says in a report on nationaljeweler.com.
However, jewelry store openings continue to offset these closings: 91 brave merchants decided to open a jewelry business in the first six months of 2009, despite the tough economy. This is almost in line with the 96 new openings in the first six months of 2008.
Thus, so far this year, the U.S. jewelry industry has lost a net of about 300 jewelers, for a net loss of about 1.3 percent of the total number of specialty jewelers."
Read the rest of Ken Gassman for IDEX Online's report at a report on nationaljeweler.com.