Over 700 Jewelers Closed Down in 2015 | A Ring of Truth

Over 700 Jewelers Closed Down in 2015 | A Ring of Truth

Out of business sign

Its a sad time for many jewelers, and their customers. Over the past several years, the jewelery industry has been hit hard by the economy, the growing presence of big box online sellers such as amazon, overstock and similar websites. In 2015, according to the Jewelers Board of Trade. 844 jewelry businesses closed their doors. Thats over two jewelers a day going out of business. In 2014 this number was 735, which was already a large number. A consolidation of the industry is well underway. Will the tide shift in 2016? We shall see.

What does this mean for the customers of the deceased jewelry businesses? What about all those lifetime warranties on the jewelry these folks bought? The store is no longer there for service and warranty claims. These are things to consider when you are purchasing jewelry. Ask yourself, “will these folks be around next year?” Of course, no one has a crystal ball. Things can and do happen.

One of our competitors who sold contemporary, or alternative, metals jewelry such as titanium rings, tungsten rings, cobalt rings and wedding bands has just announced they are shuttering their doors. The jewelry store, BelloMarc.com (www.bellomarc.com), has announced on their home page that they are done. Finished. Here’s the message:

Due to circumstances beyond our control, BellowMarc will exit the contemporary metals jewelry business. We will soon remove our website from the internet. Our remaining inventory clearance items may be found on Amazon.com or Rakuten.com. Thank you for your business over the years.

As a jewelry business owner I understand the challenges this company has faced. Every year it gets a bit harder for the small guy to compete with the amazon’s of the world. I empathize with them. I started Titanium-Jewelry.com up in 2002 and I will tell you it was easier back then than it is now. We have to work harder for our customers.

Hopefully, the jewelry industry can reverse this trend of shrinkage. There are so many benefits to consumers to deal with small independent jewelers instead of the big box stores. Our store offers 90 day returns, professional jewelers to talk to, a showroom you can visit. You don’t get that at amazon. When you deal with someone like us you can get custom made jewelry, a one of a kind piece, hand made creations – you don’t get that at zales, kays, macy’s and the like. So support your independent jeweler. It works out best for you in the long run.

There you go. There’s my .02

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