The Jewelers Security Alliance (JSA) released its 2023 Annual Crime Report on April 23, 2024, detailing the criminal activities that affected U.S. jewelry firms last year. This article offers a breakdown of the key statistics and their implications for the jewelry industry.
Overview of Crime Statistics
In 2023, the total dollar losses from crimes against jewelry firms in the United States were reported at $133.2 million, a slight increase of 2.9% compared to $129.4 million in 2022. However, the total number of crimes saw a significant decrease, falling to 1,621 from 2,211 in 2022, which marks a 26.7% reduction.
Types of Crimes
The report highlights a notable decrease in ‘Grab and Run’ thefts, which fell to 663 incidents in 2023 from 984 in the previous year. This decrease is partly due to fewer criminals using face masks for disguise, a method that had increased during the Covid pandemic.
While low-skill crimes decreased, there was a rise in crimes carried out by more skilled criminals or organized groups, leading to larger financial losses.
Off-premises Crimes
There was an increase in off-premises crimes, with incidents rising from 65 in 2022 to 100 in 2023. These crimes accounted for $40.4 million in losses, more than double the $19.0 million reported in 2022.
Implications for the Industry
The data in the JSA’s 2023 report points to the need for jewelry firms to update their security strategies, especially to counteract the threat from organized crime groups. The rise in sophisticated crimes suggests that investing in advanced security technologies and enhanced cooperation with law enforcement could be beneficial.
