The most recent Mastercard SpendingPulseTM report, quoted by Rough & Polished, shows that US jewelry sales rose 16% year-on-year in June, and 87% compared to the same period in 2019.
Overall, US consumer retail spending excluding automotive increased 9.5% year-on-year, and retail sales excluding auto and gas rose 6.1% year-on-year.
According to Mastercard SpendingPulse, “discretionary spending continued to drive growth across the fashion-forward sectors in June,” including Jewelry (up 16% year-on-year in June), Luxury (up 4%) and Department Stores (up %8.6%). Steve Sadove, senior advisor for Mastercard, said: “Sector by sector, we’re seeing a varied picture of how inflation is impacting essential vs discretionary consumer spending […].”
