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New York, NY—Jewelry was one of the top two categories for holiday gift giving this year, according to data from Mastercard SpendingPulseTM. Whether consumers were shopping for themselves or for loved ones, the jewelry sector experienced some of the strongest year-on-year and year-over-two-year growth. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment.

In total, SpendingPulse preliminary insights say holiday retail sales excluding automotive increased 8.5% year-over-year this holiday season from November 1 through December 24. Notably, online sales grew 11.0% compared to the same period last year. 

“Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated. “Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best-dressed foot forward.”

Findings from Mastercard SpendingPulse underscore the strength of the holiday shopper across channels, with consumers returning to stores (+8.1% YOY), and e-commerce continuing to expand (+11.0% YOY). Additional key findings include:

• Consumers shopped early: Continuing a key trend from 2020, U.S. consumers shopped earlier than in years past, as retailers offered special promotions early and then again later in the season as shoppers raced to secure “guaranteed by Christmas” shipping offers. Looking at Mastercard’s expanded holiday season, total retail sales were up +8.6%* YOY for the 75 days between October 11 and December 24.
• Thanksgiving weekend remained key: Black Friday marked the top spending day of the 2021 holiday season yet again. For the Thanksgiving weekend running Friday, November 26 through Sunday, November 28, shoppers drove U.S. retail sales up +14.1% YOY. In-store sales also rebounded, increasing +16.5% YOY while e-commerce sales experienced sustained growth, up +4.9% YOY.
• E-commerce sales snowballed: This holiday season, e-commerce made up 20.9% of total retail sales, up from 20.6% in 2020 and 14.6% in 2019. The channel continues to experience elevated growth as consumers enjoy the ease of holiday browsing and buying in the comfort of their own homes.

MasterCard says jewelry sales increased 32% year-on-year over 2020. Correspondingly, The Centurion’s spot-check surveys of better jewelers throughout the season show a consistent majority are experiencing sales gains over 10%. Retailers, please click here to take The Centurion’s final sales survey of the year, covering both the full holiday season and total results for 2021. Responses are kept confidential and reported only in the aggregate.