Marking positive growth for the fourth consecutive month, US jewellery retail sales increased 255% in April 2021 versus the lower comparison base of April 2020, and were 14% higher than 2019, according to Mastercard SpendingPulse monthly macroeconomic report that tracks US retail sales.
E-commerce sales accounted for 16% of total jewellery retail spend. Mastercard grouped Jewellery among the depressed sectors of 2020 that are showing some of the largest year-over-year gains as retailers gear up for the return of gatherings and events.
Despite the record shattering e-commerce growth in April 2020, online sales remained up year-over-year. E-commerce share continues to make up a bigger portion of total retail spend overall (21.6%), as well as in categories such as Apparel (62%), and Department Stores (21%).
Steve Sadove, Mastercard Senior Advisor and Former CEO of Saks, said, “April’s retail sales growth reinforces that the American consumer is healthy and eager to spend, especially on categories such as restaurants, which have faced restrictions over the past year. There are a lot of factors at play including stimulus funds, pent-up demand, and the desire to reconnect with friends and family. The fact is that people are excited to gather again and they’re refreshing their look for the occasion.”