Jewelry Sales Climb 32% Over the Holidays
The jewelry sector saw some of the strongest year-over-year and year-over-two-year growth, said Mastercard’s recent survey.
Sales in the category were up 32 percent year-over-year for the period from Nov. 1 through Dec. 24, and up 26 percent compared with pre-pandemic 2019.
The jewelry sector saw some of the strongest year-over-year and year-over-two-year growth, Mastercard noted.
Overall holiday retail sales, excluding automobiles, were up nearly 9 percent year-over-year during the period and up 11 percent compared with 2019.
“Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated, in a press release about the survey.
Shoppers returned to physical stores, with in-store sales up 8 percent year-over-year and up 2 percent compared with 2019.
E-commerce sales continued to grow, making up 20.9 percent of total retail sales, up from 20.6 percent in 2020 and nearly 15 percent in 2019.
Online sales were up 11 percent year-over-year, and up 61 percent compared with 2019.
“The channel continues to experience elevated growth as consumers enjoy the ease of holiday browsing and buying in the comfort of their own homes,” Mastercard said.
Shoppers filled their carts, physical or virtual, earlier than in previous years, a trend continuing from 2020.
Retailers offered early promotions to attract shoppers, followed by late-in-the-season promotions for those last-minute shoppers looking to ensure delivery by Christmas.
The expanded holiday season, which Mastercard defines as the 75 days between Oct. 11 and Dec. 24, saw nearly 9 percent year-over-year retail sales growth.
Black Friday was once again the top spending day of the year, said Mastercard, though all of Thanksgiving weekend was a busy time for retailers.
From Nov. 26-28, sales were up 14 percent year-over-year. In-store sales rebounded, up nearly 17 percent year-over-year, while online sales continued to grow, up 5 percent year-over-year.
“Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best dressed foot forward,” Sadove said.
The apparel category posted 47 percent year-over-year growth, up 29 percent compared with 2019.
Department stores also drew in shoppers, with sales up 21 percent year-over-year and up 11 percent compared with 2019.
Electronics were popular among shoppers as well, with sales up 16 percent year-over-year and up 20 percent compared with 2019.
The Mastercard SpendingPulse survey measures in-store and online retail sales across all forms of payment.
Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.
Gorman was an industry trailblazer, serving as the first female treasurer of Jewelers of America.
The movement of the 18-karat gold and diamond “Tennessee Torque” necklace is subtle.
The WaxJet 400, recognized as the world's fastest wax printer, is bringing in a new era of precision and efficiency to industry.
Industry veteran Gina D’Onofrio has rejoined the auction house.
“Power of Couture” recalls Frédéric Boucheron’s love of fabric using diamonds and rock crystal.
The couple won a bespoke engagement ring set with a 1.44-carat fancy yellow diamond and designed by Michael Hogan.
The three pieces, recovered from a 17th century shipwreck, are set with emeralds from Colombia’s Muzo mine.
The luxury conglomerate owns Boucheron, Pomellato, DoDo, and Qeelin.