Small businesses make up majority of jewelry industry

About 90 percent of the specialty jewelers in the U.S. generate less than $2.5 million in annual sales, according to the International Diamond Exchange. Most only operate one or two stores, IBISWorld data shows that the jewelry and watch wholesaling industry revenue dropped 1.8 percent over the past five years as the price of precious metals continue to be volatile. Additionally, IBISWorld reported the marriage rate was expected to decline in 2018, a potential threat to the jewelry stores industry.