NAICS Code 423940-11 - Jewelers Supplies (Wholesale)

Marketing Level - NAICS 8-Digit

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NAICS Code 423940-11 Description (8-Digit)

Jewelers Supplies (Wholesale) is a subdivision of the NAICS Code 423940 that involves the wholesale distribution of supplies and equipment used in the jewelry, watch, precious stone, and precious metal industries. This industry provides a wide range of products that are essential for the production, repair, and maintenance of jewelry, watches, and other precious items. The companies operating in this industry supply a variety of tools, equipment, and materials to jewelry manufacturers, repair shops, and retailers.

Hierarchy Navigation for NAICS Code 423940-11

Tools

Tools commonly used in the Jewelers Supplies (Wholesale) industry for day-to-day tasks and operations.

  • Jewelry pliers
  • Jewelry saws
  • Jewelry hammers
  • Jewelry files
  • Jewelry torches
  • Jewelry soldering tools
  • Jewelry polishing tools
  • Jewelry engraving tools
  • Jewelry casting equipment
  • Jewelry measuring tools
  • Jewelry drill bits
  • Jewelry mandrels
  • Jewelry tweezers
  • Jewelry magnifiers
  • Jewelry scales
  • Jewelry ultrasonic cleaners
  • Jewelry tumblers
  • Jewelry display cases
  • Jewelry packaging materials

Industry Examples of Jewelers Supplies (Wholesale)

Common products and services typical of NAICS Code 423940-11, illustrating the main business activities and contributions to the market.

  • Jewelry findings
  • Jewelry beads
  • Jewelry wire
  • Jewelry chains
  • Jewelry clasps
  • Jewelry charms
  • Jewelry stones
  • Jewelry settings
  • Jewelry mountings
  • Jewelry bails
  • Jewelry jump rings
  • Jewelry ear wires
  • Jewelry pins
  • Jewelry brooches
  • Jewelry pendants
  • Jewelry bracelets
  • Jewelry necklaces
  • Jewelry rings
  • Jewelry earrings

Certifications, Compliance and Licenses for NAICS Code 423940-11 - Jewelers Supplies (Wholesale)

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Responsible Jewellery Council Certification: The Responsible Jewellery Council (RJC) Certification is a voluntary certification that ensures that the jewelry supply chain is ethical, responsible, and sustainable. It covers the entire supply chain, from mining to retail. The certification is valid for three years and is renewable.
  • Jewelers Vigilance Committee (JVC) Certification: The Jewelers Vigilance Committee (JVC) Certification is a voluntary certification that ensures that the jewelry industry complies with all relevant laws and regulations. It covers areas such as advertising, marketing, and sales. The certification is valid for one year and is renewable.
  • Gemological Institute Of America (GIA) Certification: The Gemological Institute of America (GIA) Certification is a voluntary certification that ensures that the jewelry industry has the necessary knowledge and skills to identify and grade gemstones. It covers areas such as gemology, jewelry design, and sales. The certification is valid for life.
  • International Organization for Standardization (ISO) Certification: The International Organization for Standardization (ISO) Certification is a voluntary certification that ensures that the jewelry industry complies with international standards for quality management, environmental management, and social responsibility. It covers areas such as product design, manufacturing, and distribution. The certification is valid for three years and is renewable.
  • Conflict-Free Sourcing Initiative (CFSI) Certification: The Conflict-Free Sourcing Initiative (CFSI) Certification is a voluntary certification that ensures that the jewelry industry does not use minerals that are sourced from conflict zones. It covers areas such as due diligence, risk assessment, and reporting. The certification is valid for one year and is renewable.

History

A concise historical narrative of NAICS Code 423940-11 covering global milestones and recent developments within the United States.

  • The "Jewelers Supplies (Wholesale)" industry has a long history dating back to ancient times when jewelry was first crafted. The industry has evolved over time, with notable advancements such as the development of new materials, techniques, and designs. In the United States, the industry experienced significant growth during the 19th century, with the California Gold Rush leading to a surge in demand for gold and silver jewelry. In the 20th century, the industry continued to grow, with the introduction of new technologies such as computer-aided design (CAD) and the use of lasers for cutting and engraving. Today, the industry continues to evolve, with new trends such as sustainable and ethical sourcing of materials, and the use of 3D printing for jewelry production. Recent history in the United States has seen the "Jewelers Supplies (Wholesale)" industry face challenges such as increased competition from online retailers and changing consumer preferences. However, the industry has also seen growth in certain segments, such as the demand for custom and personalized jewelry. The COVID-19 pandemic has also had an impact on the industry, with disruptions to supply chains and changes in consumer behavior. Despite these challenges, the industry has shown resilience and adaptability, with many businesses pivoting to online sales and exploring new markets. Overall, the "Jewelers Supplies (Wholesale)" industry in the United States has a rich history and continues to evolve in response to changing trends and challenges.

Future Outlook for Jewelers Supplies (Wholesale)

The anticipated future trajectory of the NAICS 423940-11 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The future outlook for the Jewelers Supplies (Wholesale) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for jewelry and other precious metal products. The rise in disposable income and the growing popularity of online shopping are also expected to contribute to the growth of the industry. Additionally, the increasing demand for eco-friendly and sustainable jewelry is expected to create new opportunities for the industry. However, the industry may face challenges due to the increasing competition from low-cost imports and the rising prices of precious metals. Overall, the industry is expected to grow steadily in the coming years.

Industry Innovations for NAICS Code 423940-11

Recent groundbreaking advancements and milestones in the Jewelers Supplies (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

  • Smart Jewelry: Smart jewelry is a recent innovation in the Jewelers Supplies (Wholesale) industry. It is a combination of technology and fashion that allows users to track their fitness, receive notifications, and control their smart home devices. The jewelry is designed to be stylish and functional, making it a popular choice among consumers.
  • Sustainable Jewelry: Sustainable jewelry is another recent innovation in the industry. It is made from recycled materials and is designed to be environmentally friendly. The rise in eco-consciousness among consumers has led to an increase in demand for sustainable jewelry.
  • 3D Printing: 3D printing is a technology that has revolutionized the Jewelers Supplies (Wholesale) industry. It allows manufacturers to create complex designs and prototypes quickly and efficiently. This has led to a reduction in production costs and an increase in the speed of production.
  • Online Marketplaces: Online marketplaces such as Amazon and Etsy have made it easier for small businesses to sell their products online. This has led to an increase in the number of small businesses in the Jewelers Supplies (Wholesale) industry.
  • Customization: Customization is a trend that has become increasingly popular in the industry. Consumers are looking for unique and personalized jewelry that reflects their individual style. This has led to an increase in demand for customized jewelry.

NAICS Code 423940-11 - Jewelers Supplies (Wholesale)

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