Mastercard SpendingPulse Reports 5.9% Rise in Holiday Jewelry Sales
Holiday sales increased 4.9 percent this year, setting a new record for dollars spent, with jewelry sales jumping by 5.9 percent largely driven by last-minute discounts, according to Mastercard SpendingPulse.
The finance firm said it was the largest year-over-year jump since 2011 and a further indication of consumer confidence. Online shopping also saw large gains of 18.1 percent compared to 2016, boosted by a late season rally.
The SpendingPulse report details holiday shopping from November 1 through December 24 and covers retail sales across all payment types, including cash and check.
The key findings of the Mastercard SpendingPulse report added:
- Electronics and appliances increased 7.5 percent, the strongest growth of the last 10 years. The home furniture and furnishings category grew 5.1 percent, as did home improvement.