JA, the national trade association for businesses serving the fine jewelry marketplace, and the Jewelers Board of Trade, the member-owned association that delivers commercial credit information and unbiased data on thousands of jewelers, have released the 2019 Retail Jewelers Benchmarking Study, a financial benchmarking tool. The data, based on 2018 financial information, was collected from retail jewelers across the United States using an online survey platform powered by Dynamic Benchmarking.
The survey was sent to retail jewelers in a variety of operational capacities ranging from independents to companies with multiple locations. The survey included 350 questions spanning six different areas of the participants’ businesses including: Sales details per store, merchandise and services, operation and staffing, ecommerce and social media, budget and expenses, key performance indicators per square foot and per full-time employees.
“Benchmarking is a vital business tool. We were thrilled to work with JA to bring back this comprehensive survey focused exclusively on retail jewelers,” says Erich Jacobs, JBT President.
Retail jewelers can use the data from to measure how their store’s profitability, productivity and financial performance compares to
industry averages. They can also identify strengths and weaknesses and make informed decisions to improve profitability.
Jewelers can see how their own store performance compares by ordering the 2019 Retail Jewelers Benchmarking Study at www.jewelers.org/benchmarking or by contacting Jewelers of America’s Member Services department at 800-223-0673 or [email protected]. An electronic version of the Study is available for $295.
The 2019 Retail Jewelers Benchmarking Study was graciously sponsored by De Beers Group, Jewelers Mutual Group and Synchrony.
About Jewelers of America
Jewelers of America (JA) is the national trade association for businesses serving the fine jewelry marketplace. Jewelers of America's primary purpose is to improve consumer confidence in the jewelry industry through its leadership in public, government and industry affairs; by advocating professionalism, including high ethical, social and environmental standards; and by facilitating members' access to education. For more information, please visit www.jewelers.org.
About JBT
The Jewelers Board of Trade® (JBT) is a not-for-profit, member-owned association with over 130 years experience delivering commercial credit information, collections, marketing services, and unbiased data and statistics on thousands of retail, wholesale and manufacturing jewelers. The U.S. jewelry market presents both opportunity and credit risk for suppliers. Whether you are a domestic or international company currently doing business (or planning to do business) in the U.S., it is essential that you have information to assess credit risks before you ship. Membership in JBT provides that information. For more information, please visit www.jewelersboard.com.
About De Beers
De Beers Group is the world’s leading diamond company and the world’s largest diamond producer by value. It has mines in four countries – Botswana, Canada, Namibia and South Africa – and employs more than 20,000 people.The company was established in 1888 and is owned 85 per cent by Anglo American and 15 per cent by the Government of the Republic of Botswana. With its headquarters in London, it has unrivalled expertise across the diamond value chain – from exploration and production, to rough diamond sales and diamond jewelry retail. For more information, please visit www.debeersgroup.com.
