Jewelers of America Releases 2009 Cost of Doing Business Report



Jewelers of America
released the 2009 Jewelers of America Cost of Doing Business Report which
analyzes retailers’ financial data from 2008. 

The report
compiled data from a cross section of jewelers, including independent high-end
firms, independent mid-range firms, jewelry chains and designer/custom
jewelers.

According
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.  

The
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
percent. 

Also
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.

To
order the report, visit www.jewelers.org,
call (800)-223-0673 or e-mail info@jewelers.org. It is available to Jewelers of
America members for $24.95 and non-members for $150.