SIC 5094 Jewelry, Watches, Precious Stones, and Precious Metals

Encyclopedia of American Industries | 2005 | Copyright

SIC 5094
JEWELRY, WATCHES, PRECIOUS STONES, AND PRECIOUS METALS

This industry classification comprises establishments involved in the wholesale distribution of jewelry, watches, precious stones, and precious metals. Products of the industry include clocks, coins, gem stones, pearls, precious metals bullion, silverware, and trophies. Establishments primarily engaged in the wholesale distribution of precious metal ores are included in SIC 5052: Coal and Other Minerals and Ores.

NAICS Code(s)

421940 (Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers)

Industry Snapshot

According to the U.S. Census Bureau, the jewelry, watch, precious stone, and precious metal wholesalers represented approximately 8,215 establishments. Combined, these employed some 54,408 people with an annual payroll of $2 billion. In 2003, the total number of establishments climbed to 12,936. The industry generated approximately $13.8 billion in annual sales. The total number of employees reached 61,411. The average sales per establishment were $1.10 million. The majority of the establishments were small—employing fewer than five people. There were a total of 9,939 establishments with fewer than five employees.

Jewelry, the largest sector of the industry, numbered 4,872 establishments and dominated more than 37 percent of the market. Together, this group accounted for $4.8 billion in sales. The jewelry and precious stones sector numbered 3,435 establishments and controlled more than 26 percent of the market. Combined, this group generated $2.5 billion in sales. Diamonds represented 1,327 establishments and controlled about ten percent of the market, with $1.7 billion in sales. States with the majority of...

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