The Jewelry IndustryBusinesses in this category are mainly involved in selling jewelry including diamonds and other precious stones and the metals required to mount them. The industry also includes those stores selling silverware, bracelets, pins, and watches and clocks. In 2003, there were about 49,542 different jewelry stores in the United States. In the industry there are chain stores and independent retailers. In wealthy areas like Los Angeles, California, jewelry stores are very popular because people are willing and able to spend large amounts of money to stand out. An association called the Jewelers of America has been created to help with the ethical problems surrounding diamonds and to bring together professionals in the industry. In cities with high unemployment rates like Tampa, FL, jewelry is becoming a way for people to make some money because they are trading in their valuables for cash.Trends in the IndustryThe industry has seen some consolidation from companies like Tiffany's and Zales. The internet has also changed the industry by offering direct retail sales and cutting out some of the middlemen involved in the buying process. There are also companies working on creating synthetic diamonds.
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