Holiday jewellery sales were 26.2% higher than the corresponding period in 2019. The payments tracking firm noted that whether consumers were shopping for themselves or for loved ones, the jewellery sector experienced some of the strongest YOY and YO2Y growth.
Overall, it’s been a resurgent season for retailers as consumers stocked their carts with gifts and gadgets. Total holiday retail sales excluding automotive increased 8.5% year-over-year this holiday season. Notably, online sales grew 11.0% compared to the same period last year.
“Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labour 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. “Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best dressed foot forward.”
Findings from Mastercard SpendingPulse underscore the strength of the holiday shopper across channels, with consumers returning to stores (+8.1% YOY), and e-commerce continuing to expand, up 11% compared to 2020.
Continuing a key trend from 2020, US consumers shopped earlier than in years past, as retailers offered special promotions early and then again later in the season as shoppers raced to secure “guaranteed by Christmas” shipping offers.
Black Friday marked the top spending day of the 2021 holiday season yet again. This holiday season, e-commerce made up 20.9% of total retail sales, up from 20.6% in 2020 and 14.6% in 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.