US Jewelry Sales Surge in September

RAPAPORT… Jewelry sales in the US saw a sharp spike in September as consumers updated their wardrobes and prepared for the holiday season, according to Mastercard SpendingPulse.

Sales in the category grew 55% year on year during the month, reflecting a favorable comparison with September of last year, when stores were just beginning to recover from Covid-19 closures. Still, jewelry spending also rose 57% versus 2019, Mastercard said Wednesday.

Spending in all retail categories climbed 5% year on year, and advanced 12% over September 2019. E-commerce revenue was up 12% versus September 2020 and 72% compared to the same month in 2019.

“Total retail sales have been growing every month, year over year, since September 2020 as consumer spending shows positive signs of recovery heading into the highly anticipated holiday season,” Mastercard noted. “Specifically, discretionary spending is seeing strong growth. Restaurants, department stores, apparel and jewelry sectors are up as consumers increasingly venture out to refresh their looks for events, occasions and vacations.”

Image: A couple shopping at a mall. (Shutterstock)