Policies & IssuesNov 27, 2024
G7 Announces Botswana as Second Verification ‘Node’ for Rough DiamondsBotswana joins Antwerp as a certification center for rough under the G7 ban on Russian diamonds.
SurveysDec 28, 2018
Jewelry Sales Were Up 3.7% Over Holidays, Mastercard Says
According to Mastercard’s SpendingPulse report, overall holiday retail sales rose 5 percent.
Purchase, N.Y.—According to Mastercard’s annual SpendingPulse report, holiday 2018 retail sales were up 5 percent over last year.
It’s the strongest growth in six years, with sales totaling $850 billion. Online sales experienced the greatest growth this year, increasing 19 percent from 2017.
The annual report tracks all types of spending, even cash and check, from Nov. 1 to Dec. 24.
Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Inc., said: “From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail.
“By combining the right inventory with the right mix of online versus in-store, many retailers were able to give consumers what they wanted via the right shopping channels.”
While retail was up overall, certain categories fared better than others this holiday season.
A spokesperson for Mastercard said sales in the jewelry category, which they define as encompassing both fine and costume jewelry, rose about 4 percent from 2017.
Apparel saw its highest growth since 2010, increasing by 8 percent from last year.
Home improvement was another strong performer, rising 9 percent, a trend that began before the holiday season commenced, Mastercard said.
Sales of electronics and appliances, meanwhile, were down 0.7 percent, while sales of home furniture and furnishings increased 2 percent.
Channel-wise, department stores’ total sales slipped 1 percent during the period, after increasing less than 2 percent for two years in a year. However, their online sales were up 10 percent.
Mastercard said that the overall positive holiday season was affected by bad weather. Cold weather struck the East Coast on Black Friday, and both the East and West coasts experienced wet weather conditions the weekend of Dec. 15-16.
Additionally, the East Coast experienced storms on Friday, Dec. 21.
Mastercard bases its SpendingPulse report on aggregate sales activity in the Mastercard network, as well as estimates based off surveys for payments in the form of cash and checks.
More on Surveys
The Latest
SourcingNov 27, 2024
Gemfields Reports 'Disappointing' High-Quality Emerald Auction ResultsThe miner said its November sale, which earned $16.1 million, felt the effect of competitive pricing by a rival Zambian producer.
CollectionsNov 27, 2024
Piece of the Week: Mignon Faget’s ‘Crescent Starry Night’ Tassel EarringsMignon Faget honors its hometown of New Orleans with a piece inspired by “The Crescent City.”
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
TechnologyNov 27, 2024
Nivoda Secures Additional Funding The London-based business-to-business diamond and gemstone marketplace just closed on a $51 million round of Series C funding.
Weekly QuizNov 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingNov 26, 2024
De Beers Stays With ‘A Diamond Is Forever’ for 2024 Holiday Campaign“Forever Present” highlights gifting opportunities for natural diamonds, celebrating familial, friendship, and romantic relationships.
AuctionsNov 26, 2024
Christie’s To Auction Collection of Suzanne Belperron JewelsIt’s one of the most impressive assemblages of the French designer’s pieces ever to come to auction, Christie’s said.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
ColumnistsNov 26, 2024
The Smart Lab: 7 Strategies for Refining Your Holiday Email Marketing CampaignsSuccessful email marketing campaigns are all about timing, personalization, and compelling CTAs, Emmanuel Raheb writes.
MajorsNov 26, 2024
GIA’s Board of Governors Adds 2 New MembersRetail leader Lisa Bridge and geology professor Dr. Wendy Bohrson joined the organization’s board.
MajorsNov 26, 2024
Ben Bridge Jeweler Unveils This Year’s ‘Benny Bear’ Look out for a black bear wearing a purple Santa hat and its zippered tummy pouch made for holding a holiday gift from Ben Bridge Jeweler.
SourcingNov 25, 2024
William Goldberg Celebrates 2 Major Milestones With New Book“The William Goldberg Way” was released in honor of the company’s 75th anniversary and 25 years of its proprietary Ashoka diamond.
Lab-GrownNov 25, 2024
Lab-Grown Co. Lusix Sold to 2 Companies for $4M Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
IndependentsNov 25, 2024
Sophie Bille Brahe Opens First US StoreThe Danish brand has opened an appointment-only location on Madison Avenue in New York City.
Events & AwardsNov 25, 2024
The Original Miami Beach Antique Show Panel to Feature Fred SavageThe actor and watch enthusiast will be part of the show’s education lineup.
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
SourcingNov 22, 2024
Facets of Fire Expands to Include Pear, Marquise DiamondsThe company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
