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.
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