Despite the pandemic, Delaware Valley consumers are expected to spend $270 million on fine jewelry this year. Based on projections from IBISWorld, here's what will be purchased:

• $113 million worth of diamonds
• $40 million worth of watches
• $27 million worth of gold
• $32 million worth of pearls and gemstones
• $47 million in other goods and services

Philadelphia area business owners will now have an easier time capturing a bigger share of jewelry expenditures as a monster competitive force disappears.

This week, Signet, the largest jewelry retailer in the country, announced that by December, it would be closing over 380 stores.  Signet's brands familiar to Delaware Valley consumers include Kay, Jared, Zales, and Piercing Pagoda.

To successfully compete for the void created by fewer Signet stores, local retailers will need to advertise, especially between now and the end of the year. This is when 63% of all fine-jewelry sales traditionally occur.

By any metric, the best way to reach local jewelry buyers is by advertising on Philadelphia radio.

"Don't believe anyone who tells you that advertising on radio doesn't work," says Jamie Riley. "We have been doing it since 2007 when I joined the company, and we continue to see our key business measurements grow."

Ms. Riley is the Director of Marketing and Promotions of Ron Jaworski Golf.

"Before I started working for Ron Jaworski, the Yellow Pages and newspapers were the only advertising the company was doing," she says. "When I suggested we do a remote radio broadcast at one of our golf clubs to bring in new people, everyone thought I was crazy."

"I guess it was a success because I wasn't fired, and we've continued to advertise on the radio, ever since."

Next year, according to Nielsen, 154,702 people in the Delaware Valley will be getting married.  Assuming that those folks are hitching-up with each other, that means there will be 77,351 weddings. 

CostOfWedding.com reports that the average cost for these pending nuptials will be $30,684 including (but not limited to) rings, dresses, tuxedos, flowers, venues, photographers, invitations, limos, and rice (or birdseed for the ecologically inclined).

This means small business owners in the Philadelphia area who cater to the bridal market will be competing for a share of $2.4 billion.