Lab-GrownDec 04, 2024
GJEPC Says Indian Trade Will Use FTC-Approved Terminology for Lab-Grown DiamondsThe FTC’s Jewelry Guides require “clear and conspicuous” disclosure when advertising lab-grown diamonds.
SurveysJan 04, 2021
Online Jewelry Sales Up 46% This Holiday Season, Mastercard Says
It was a bright spot for the category, where overall retail sales were down 4 percent between Oct. 11-Dec. 24.
Though overall jewelry retail sales were down this holiday season, e-commerce sales boomed, rising 44.6 percent, according to Mastercard SpendingPulse. Pictured here are diamond and platinum engagement rings from the Forevermark x Micaela collection.
New York—Online sales provided a bright spot this holiday season in many categories while overall retail sales saw mixed results, according to insights from Mastercard.
According to Mastercard SpendingPulse, holiday sales excluding automotive and gas were up 3 percent during the extended holiday period, from Oct. 11 to Dec. 24 (measured as such because consumers started shopping earlier this year).
Within that, online sales powered ahead 49 percent compared with 2019.
SpendingPulse measures overall retail spending trends across all payment types.
During the traditional holiday period—Nov. 1 to Dec. 24—retail sales were up by 2.4 percent and e-commerce was up 47.2 percent compared with 2019.
“American consumers turned the holiday season on its head, redefining ‘home for the holidays’ in a uniquely 2020 way. They shopped from home for the home, leading to record e-commerce growth,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated.
E-commerce sales comprised 19.7 percent of overall retail sales, the firm said, up from 13.4 percent last year.
When looking at overall spending during the expanded holiday season, home furniture and furnishings saw the strongest growth of any sector when compared with last year’s holiday season, up 16.2 percent; the category grew 31 percent online specifically.
Home improvement was also up, growing 14.1 percent with e-commerce sales up 79.7 percent.
Meanwhile, jewelry was down 4.3 percent but up 44.6 percent online.
Apparel saw a decline of about 19.1 percent year-over-year but was up 15.7 percent online, while electronics and appliances were up 6 percent overall.
Department stores saw overall sales decline 10.2 percent while online sales were up 3.3 percent, reinforcing the importance of omnichannel this year; buy online, pick up in store as well as features like contactless services were key for retailers this season.
Luxury goods, excluding jewelry, were down 21.1 percent overall.
Not surprisingly, given that retailers started their holiday advertising and promotions earlier this year, there were fewer last-minute shoppers this year than 2019.
This can be shown by the season’s biggest shopping days.
Though Black Friday shopping was down 16.1 percent, it was still the top spending day of the 2020 holiday season, according to Mastercard SpendingPulse.
At No. 2 was the day after Black Friday, known as Small Business Saturday, whereas in 2019 the No. 2 day was the Saturday before Christmas, or Super Saturday.
At No. 3 this year was Saturday,
Dec. 12, compared to last year’s No. 3—Dec. 23.
No. 4 this year was Dec. 11, followed by Nov. 30 and then Nov. 25.
No. 4 this year was Dec. 11, followed by Nov. 30 and then Nov. 25.
More on Surveys
The Latest
SourcingDec 04, 2024
Designer Saul Fraiman Retires After 55 YearsThe fine jewelry designer, who came out of retirement in 2017, is putting down his sketchpad for good.
AuctionsDec 04, 2024
30-Carat Pink Diamond Fetches $2.6M at BonhamsThe Type IIa, very light pink colored diamond was the highlight of the recent Hong Kong jewelry auction.
Brought to you by
Protecting Your Sparkle: Why Screening Has Become Essential While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.
CrimeDec 03, 2024
Man Sentenced to Life in Prison for Murder of Florida JewelerJohn Willard Craiger, 83, fatally shot jeweler Ghazi “Gus” Michel Osta following an argument in the store.
Weekly QuizNov 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsDec 03, 2024
Peter Smith: How a Leadership Hire Can Make or Break a CompanyIn his latest column, Smith provides a list of questions every business needs to be asking their next potential leader.
SourcingDec 03, 2024
Gemstone Cutter Glenn Lehrer Dies at 71An innovative artist inspired by the natural world, Lehrer is remembered for being a visionary and a shining light.
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.
WatchesDec 03, 2024
Jaeger-LeCoultre and Vacheron Constantin Appoint New CEOsJérôme Lambert returns as CEO of Jaeger-LeCoultre, while Laurent Perves takes the lead role at Vacheron Constantin.
MajorsDec 03, 2024
Neiman Marcus’ ‘Fantasy Gifts’ Sparkle In Pavé This Holiday SeasonThe extravagant gifts in this year’s “A Neiman’s Fantasy” Holiday Book range from a Messika diamond necklace to pavé diamond cowboy boots.
IndependentsDec 02, 2024
Windsor Jewelry Closing After 105 YearsOwners Greg and Lynn Bires are heading into retirement.
GradingDec 02, 2024
Jewelry Appraiser Craig Lynch Dies at 70The industry veteran is remembered for his faith, his dedication to his family, his wealth of knowledge and his generosity in sharing it.
Lab-GrownDec 02, 2024
Lab-Grown Diamond Jewelry Set Sells for $55K at Charity AuctionMonique Lhuillier and Kay Jewelers collaborated to create the pieces, which were offered at the recent Baby2Baby gala.
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.
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.”
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.
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.
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.
