Articles and News
Jewelry Retail Sales Sees Significant Growth in March April 13, 2022 (0 comments)
Purchase, NY--According to Mastercard SpendingPulse™, which measures in-store and online retail sales across all forms of payment, total retail sales excluding auto increased 8.4% year-over-year (YOY) and 18% compared to pre-pandemic spending (2019), not adjusted for inflation.
This is similar to the YOY growth experienced last month and slightly above January growth levels, as per the company press release.
The jewelry sector also saw significant growth. According to Mastercard, there was an 11.9% growth in sales in March 2022 compared to the same period in 2021.
“Retail sales remain strong but are stabilizing as consumers resume spending on passion areas like travel, live entertainment, indoor dining and other in-person activities,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated, in the press release. “After nearly two years of cautious optimism around the broader reopening, it’s a healthy sign that consumers are returning to a balanced level of spending across retail sectors and services.”
Read the complete press release.