US retail jewellery sales growth rates increased by triple-digits in March 2021 after crossing the one-year mark since the first Covid lockdowns impacted retail sales, according to Mastercard SpendingPulseTM, a market intelligence provider.
US jewellery sales in March this year have grown 106.1% compared to March 2020, and rose 29.7% versus March 2019. In March 2020, jewellery experienced a dip in spend when people first started social distancing; this has led to significantly elevated growth rates this March, the company explained.
Overall US retail sales (excluding automotive and gasoline) increased 26.3% year-over-year in March, and online sales grew 56.8% compared to 2020. Retail sales benefited from the infusion of stimulus payments, coupled with broader reopening across the country, it noted.