Industry / Retail

Jewelry Sales Fell 5.4% Over Holiday, Survey Says


After two years of the jewelry category enjoying strong holiday sales gains, jewelry sales fell 5.4% during the 2022 season, according to Mastercard SpendingPulse, the credit card company’s sales measurement service.

This stat marks a change from SpendingPulse, which for most of 2022 recorded strong gains in jewelry sales. In September, it predicted that jewelry sales would rise 2% this holiday, so this result is below expectations.

The service defines the holiday season as the period from Nov. 1 through Dec. 24.

Overall, SpendingPulse found that the 2022 holiday was a good one for U.S. retailers, with sales rising 7.6% this year over last. (Automotive sales aren’t included in the tally.)

The service also found:

– Online holiday sales during the holiday grew 10.6% from the same period in 2021. SpendingPulse estimated that e-commerce accounted for 21.6% of holiday retail sales in 2022, up from 20.9% in 2021 and 20.6% in 2020.

– Sales at department stores rose 1% over the holiday.

– Black Friday—the day after Thanksgiving—has reclaimed its title as the busiest shopping day of the year. Sales on that day rose 12% over 2021’s.

– Consumers were increasingly spending money on experiences, with restaurant spending rising 15.1%.

– The holiday season was marked by heavy discounting, as concerns about inflation led consumers to seek out deals.

SpendingPulse tracks data from Mastercard purchases, combined with information from other sources.

Photo: Getty Images

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By: Rob Bates

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