Tools commonly used in the Jewelry-Renting & Leasing (Retail) industry for day-to-day tasks and operations.

• Jewelry cleaning solutions
• Jewelry display cases
• Jewelry repair kits
• Jewelry scales
• Jewelry steam cleaners
• Loupes and magnifiers
• Metal stamping kits
• Pliers and cutters
• Ring sizing tools
• Ultrasonic jewelry cleaners

Common products and services typical of NAICS Code 458310-17, illustrating the main business activities and contributions to the market.

• Bridal jewelry rental
• Formal event jewelry rental
• Costume jewelry rental
• Luxury jewelry rental
• Vintage jewelry rental
• Designer jewelry rental
• Fine jewelry leasing
• Special occasion jewelry rental
• Prom jewelry rental
• Red carpet jewelry rental

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

• Gemological Institute Of America (GIA) Certification: This certification is required for jewelry appraisers and gemologists. It provides training in identifying and grading diamonds, colored stones, and pearls. The GIA is a nonprofit organization that offers education and research programs in gemology.
• Jewelers Of America (JA) Certification: This certification is for jewelry sales associates and managers. It provides training in sales techniques, customer service, and product knowledge. The JA is a national trade association for jewelry retailers.
• Occupational Safety and Health Administration (OSHA) Compliance: Jewelry retailers must comply with OSHA regulations to ensure a safe workplace for employees. This includes training on hazardous materials, personal protective equipment, and emergency procedures.
• Federal Trade Commission (FTC) Regulations: The FTC regulates the jewelry industry to prevent deceptive advertising and unfair business practices. Jewelry retailers must comply with guidelines on diamond grading, metal content, and country of origin.
• Environmental Protection Agency (EPA) Compliance: Jewelry retailers must comply with EPA regulations on hazardous waste disposal, air emissions, and water pollution. This includes proper handling of chemicals used in jewelry cleaning and repair.

A concise historical narrative of NAICS Code 458310-17 covering global milestones and recent developments within the United States.

• The concept of renting jewelry dates back to ancient times, where royalty and nobility would borrow jewelry for special occasions. However, the modern jewelry rental industry began in the 1930s in the United States, with the establishment of companies like Harry Winston and Van Cleef & Arpels. These companies rented out high-end jewelry to Hollywood stars for red carpet events. In the 21st century, the jewelry rental industry has expanded to include a wider range of customers and occasions. Rent the Runway, founded in 2009, is a notable example of a company that offers jewelry rental services to the general public. The company has since expanded to include clothing and accessories. In recent years, the jewelry rental industry has seen a surge in popularity due to changing consumer preferences. Millennials and Gen Z consumers are more interested in sustainability and reducing waste, which has led to an increase in demand for rental services. Additionally, the rise of social media has made it more acceptable to wear rented jewelry, as consumers can showcase their outfits and accessories without the pressure of owning them. The COVID-19 pandemic has also impacted the industry, with many consumers opting for rental services instead of purchasing expensive jewelry for virtual events. Overall, the jewelry rental industry has a rich history and continues to evolve with changing consumer trends.

The anticipated future trajectory of the NAICS 458310-17 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 Jewelry-Renting & Leasing (Retail) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing popularity of renting and leasing jewelry for special occasions. The rise of sustainable and ethical fashion is also expected to contribute to the growth of the industry as consumers are becoming more conscious of their environmental impact. Additionally, the industry is expected to benefit from the growing trend of experiential retail, where consumers are looking for unique and memorable shopping experiences. However, the industry may face challenges from the increasing competition from online retailers and the impact of the COVID-19 pandemic on consumer spending.

Recent groundbreaking advancements and milestones in the Jewelry-Renting & Leasing (Retail) industry, reflecting notable innovations that have reshaped its landscape.

• Virtual Try-On: Some jewelry rental companies are now offering virtual try-on services, where customers can upload a photo of themselves and see how different pieces of jewelry would look on them before renting or buying.
• Sustainable Materials: Many jewelry rental companies are now using sustainable and eco-friendly materials in their products, such as recycled metals and lab-grown diamonds, to appeal to environmentally conscious consumers.
• Customization: Some jewelry rental companies are now offering customization options, where customers can create their own unique pieces of jewelry to rent or buy.
• Subscription Services: Some jewelry rental companies are now offering subscription services, where customers can receive a monthly selection of jewelry to rent or buy.
• Social Media Integration: Some jewelry rental companies are now integrating social media into their services, allowing customers to share photos of themselves wearing rented jewelry on social media platforms.