Economic Turndown: Kay Jewelers, Zales and Jared to close 150 more jewelery stores

[Bladewire]

They've already closed 262 stores last year. Another casualty of Trumps economy... fewer people are buying diamonds and jewelry

"Retail sales sank 1.2% in December, the U.S. Census Bureau said Thursday. It’s the largest drop since September 2009, a few months after the end of the Great Recession."

Economic Turndown: Kay Jewelers, Zales and Jared to close 150 more jewelery stores | CBS

[Bladewire]

If people are making so much money under Trump why are they buying less jewelry?

[Bladewire]

[The Truth Hurts]

much like everything else, people are buying online.
why pay a jacked up ridiculous price at one of these places when the same shit can be had online for much less?

[Wilbo]

I saw somewhere that Walmart was the largest retailer of diamonds in the U.S.

[Bladewire]

Originally Posted by Wilbo

I saw somewhere that Walmart was the largest retailer of diamonds in the U.S.

That's an interesting thought. I wouldn't be surprised if that were to happen in the future. or maybe even Amazon since online jewelry sales have increased a lot over the last few years.

Currently the largest diamond retailer in America is Signet Jewelers. Signet is the owner of Kay Jewelers, Zales and Jared. Signet is the one closing hundreds of stores.

[HairyChick]

Never heard of Jared. The other two were at the local mall but I’m not sure if they are still in operation. Many small Portuguese-owned jewelry stores have closed and they specialized in Portuguese gold. A few remain but I remember driving on the Avenue in the north end and every block for about five or six miles had a jewelry store. At times there’d be three or four and each block is about 50-100 feet long.

Now they have ethnic blocks with African, Guatemalan, Ethiopian, Indian, Chilean, Honduras and other country restaurants and jewelry stores, money transfer, clothing and home decorations stores. Ugly home things like lime green and purple couches, Jesus clocks and six foot statues, lime green curtains, and orange carpeting. I understand each religion and each ethnic background has colors representing their upbringing, but lime green couches with purple stripes are garish. I had bright purple carpeting but white walls with light purple leather sofas and chairs. One bedroom was my office with hot pink carpeting and walls. Looked like Pepto-Bismol covered the room!

If you visit the south end in New Bedford, furniture stores feature gold wood and purple couches, gold and orange and green wallpaper, and gray stoves. I used to drive by just to look and take pictures. Barrooms on every block, tiny restaurants and, of course, jewelry stores . I’d take friends on tours of the area and they were in disbelief that Christmas decorations were up in June.

It’s funny to look back at your childhood memories. My dad’s friend owned a jewelry store for forty years and it’s the size of one of my bathrooms . Six feet wide and about fifteen feet long, three glass cases, tiny office in back. He carried basic stuff in front and expensive in back in his locking desk drawers. Back then you didn’t need to sell via big posters and sample items. People went there to buy specific things and not browse.

Today jewelry stores are half the size of Walmart. Case after display after wall rack of cosmetic crap jewelry. One locked mirrored case of real stuff that looks the same as imitation gold over metal.

A few weeks ago I went to a jewelry store for a watch battery. The conversation was just about this since such garbage was in the cases. She wanted $15 for a $3 watch battery but I said it was too expensive and she charged me $5. It’s like business is so bad they’ll break even just for a sale. She’s not keeping up with the current state of business and the money customers don’t have.