US jewelry sales were driven in part by Valentine’s Day during February, according to a report by Mastercard SpendingPulse quoted by IDEX Online.
While the report did not specify any figures, it did say that the apparel and department store sales – also classed as gifting sectors – “saw growth of 3.9% and 5.6% respectively. Overall sales excluding automotive) were up 6.9% year-on-year.”
Steve Sadove, Mastercard senior advisor, said in the report: “Following a dynamic holiday season, consumer spending returned to a familiar and healthy balance in February. Consumers have remained resilient, prioritizing discounts where possible to counteract inflationary pressures.”
