During the Thanksgiving weekend (Nov. 26–Nov. 28), jewelry sales rose an amazing 78% over the same period in 2020, according to the latest data from Mastercard SpendingPulse.
That’s an impressive result, as 2020 was also considered a generally strong holiday for jewelry.
It also exceeds SpendingPulse’s September prediction of a 50% jump in jewelry sales in the 2021 holiday season and a 52.9% rise from the pre-pandemic season in 2019.
It does, however, continue the trend that SpendingPulse has found throughout the year. In August, it reported that jewelry sales rose 73.9% over August 2020 and 58.9% over pre-pandemic August 2019. In July, it found that jewelry sales jumped 83% over July 2020 and 54% over July 2019.
Mastercard spokesperson Alexandria Brown tells JCK that the luxury retail and jewelry sectors have been experiencing some of the strongest growth over 2020 and 2019.
“[That] is expected to continue this holiday,” Brown says.
Overall retail sales rose 4.9%, with brick-and-mortar sales jumping 16.5%, surprisingly exceeding the 4.5% jump in e-commerce sales. Also doing well over the Thanksgiving weekend were sales of apparel (up 51.2%) and at department stores (up 19%).
SpendingPulse aggregates sales activity from the Mastercard payments network, coupled with survey-based estimates for other payment forms, such as cash and check.
(Photo: Getty Images, Unsplash)
(Source: JCK Online, December 01 , 2021)