International News
Silver delivers strong results for U.S. jewellers: Silver Institute survey
With global silver jewelry consumption on the rise, the Silver Institute commissioned a survey of U.S. jewelry retailers to gauge their view of the silver jewelry market in 2024. The results indicate that silver jewelry still holds a strong position as a leading merchandise category in the U.S. retail market. The survey showed that silver jewelry sales continued to deliver results for U.S. jewelry retailers, with 53% reporting marginally increased sales over the last survey, which studied the 2022 market.
Highlights from the survey include:
- 71% of retailers said they increased their silver jewelry inventory in 2024 by an average of 15%. This represents a 10% growth over the last survey, at 61% in 2022.
- Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, averaged 31% of unit volume. In 2022, this category was 28%.
- The average store growth for silver jewelry sales was 20% in 2024, vs. 14% in 2022.
- According to the retailers surveyed, the age groups buying the most silver jewelry are 20-40, followed by 41-50. Female self-purchase is the best-selling opportunity for silver.
- 83% said silver jewelry is essential to their business. In 2022, this figure was 88%.
- 92% of retailers say they are optimistic that silver jewelry sales will continue to grow for the next several years. In 2022, it was 88%.
“Silver jewelry offers the consumer many options at a price point that is friendly to the wallet. Interest in big and bold silver jewelry with increasingly stylish designs is leading many consumers to choose silver jewelry,” stated Michael DiRienzo, President and CEO of the Silver Institute.
The survey was conducted online by The Jewelers Collective (TJC), a leading jewelry trade magazine, from February 11 to March 28, 2025. The survey was distributed to jewelry retailers and TJC subscribers.
International News
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
During Q3, Business Closures Dropped To 116 Compared To 126 In The Prior Year’s Third Quarter, Driven By 88 General Operational Cessations, 28 Acquisitions Or Mergers, and Zero Bankruptcies.
The number of active US jewelry companies continued to shrink in the third quarter, but at a slower pace than a year ago, according to the latest data from the Jewelers Board of Trade (JBT).The US jewelry industry continued its structural consolidation through Q3, though the pace of business closures showed signs of stabilizing compared to the previous year. Data from the Jewelers Board of Trade (JBT) reflects ongoing consolidation across retail, wholesale, and manufacturing, coupled with heightened credit volatility.
Key Data & Metrics
Nationwide, the active business footprint stands at 21,831 companies, reflecting a 1.4% year-over-year decline. During Q3, business closures dropped to 116 compared to 126 in the prior year’s third quarter, driven by 88 general operational cessations, 28 acquisitions or mergers, and zero bankruptcies. Meanwhile, new market entrants also slowed, with 67 new business openings recorded in Q3 down from 89 during the same period last year.
Sector-by-Sector Breakdown
| Sector | Active Count | YoY Change | Impact Summary |
| Retailers | 16,564 | -1.5% | Makes up the majority of the sector; experienced the largest net store count reduction. |
| Manufacturers | 2,061 | -1.7% | Steepest percentage decline among all segments. |
| Wholesalers | 3,206 | -0.9% | Relatively stable, holding the mildest contraction rate. |
Credit & Financial Health Trends
The JBT report highlights dynamic shifts in creditworthiness across US and Canadian businesses, signaling bifurcated financial health:
- Credit Downgrades: Jumped sharply to 1,655 (up from 620 in Q3 of the prior year).
- Credit Upgrades: Rose significantly to 1,480 (up from 551 in Q3 of the prior year).
While net business closures are tapering off, high numbers of simultaneous upgrades and downgrades point to a split market where resilient operators are strengthening their positions while vulnerable businesses face tighter financial pressures.
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