Jewelers of America
released the 2009 Jewelers of America Cost of Doing Business Report which
analyzes retailers’ financial data from 2008.
compiled data from a cross section of jewelers, including independent high-end
firms, independent mid-range firms, jewelry chains and designer/custom
to the report, retail jewelry sales declined across the board in 2008. Overall sales declined by 3.5% on
average. Independent high-end retailers
were down 1.3%. Mid-range retailers were down 5.5%, while chains were off by
13.2%. Designer/custom retailers only
experienced a 0.8% sales decrease.
report also states that high-profit stores experienced an overall sales growth
of 3.1 percent, while low-profit stores had an average sales decline of 12.6
according to the report, the diamond category remained the majority of sales,
with 49%. Colored stone jewelry was 9% of sales and karat gold was 8%. Repairs brought in 10% of sales. Timepieces experienced growth, up from 3% in
2007 to 6% in 2008.