The rate of decline remains steady, with the total number of registered retailers, wholesalers and manufacturers down by 3.1 per cent, as it was in Q2, and largely in line with recent quarters.

Ongoing uncertainty around major trade relationships and supply chain risks continued to impact business sentiment. Still, there were signs of measured progress for the jewelry industry.

In the three months to 30 September the number of jewelry businesses fell by 706 to a total of 22,858. That takes account of new businesses as well as ceased operations.

There were 89 new listings during Q3 2025, compared to 112 in Q3 2024, a drop of a fifth. But there were also 100 closures, down a quarter on 136 in Q3 2024.

Overall there were 93 fewer manufacturers, a reduction of 4.2 per cent to 2,096; 96 fewer wholesalers, a reduction of 2.9 per cent to 3,234; and 517 fewer retailers, a reduction of 3.0 per cent to 16,822, according to JBT’s Vital Statistics and Trend Data, published on 4 December.

Although this year may have seen concerning shifts at times economically, the jewelry industry shows signs of steadying according to JBT.