US Jewelry Sales See Holiday Uptick – Mastercard 

US jewelry sales were strong in September as consumers increased purchases over the Labor Day weekend. 

Sales for the category advanced 3.8% year on year for the month, seeing “notable growth,” according to a report Mastercard SpendingPulse released Wednesday. Meanwhile, total US retail sales saw a “solid” rise, with online sales climbing 6.5% and in-store sales up 2.2% compared with the same period a year ago. 

Consumers also shelled out on restaurants during the final weeks of summer, with the segment seeing an increase of 4.7% year on year. In the southeast US, spending shifted away from apparel and a few other categories over the short term, due to the impact of Hurricane Helene in that area. 

Recently, Mastercard also released its holiday-spending forecast. It believes output for the November 1 to December 24 period will rise 3.2% year on year. It also predicted younger shoppers would opt for new, popular jewelry brands that are less expensive than the more traditional labels purchased in the past. Outlay on newer labels is set to grow 9%, but the average transaction value will fall 4% to $116 from $121 a year ago.

Image: A woman buying jewelry. (Shutterstock)