US: HOLIDAY JEWELRY SALES DRIVEN BY “LAST-MINUTE SHOPPING”
The Mastercard SpendingPulse survey, just released, shows an increase in holiday sales, including the jewelry sector. The SpendingPulse report, which details holiday shopping from November 1 through December 24, shows that jewelry sales grew 5.9%, largely driven by last-minute sales on December 23.
Overall retail sales over the holiday increased 4.9% this year, “setting a new record for dollars spent”. According to the survey, “this is the largest year-over-year increase since 2011 and a further indication of consumer confidence”. Online shopping grew 18.1% compared to 2016, boosted by a late season rally.
October was also a good month for fine jewelry and fine watches retailers in the US: According to IDEX Online, sales rose 7% year-on-year in the US market, totaling an estimated $6.5 billion. Sales of fine jewelry and fine watches rose by 7.7% year-on-year September 2017, totaling an estimated $6.1 billion.