US Jewellery Retail Sales Sparkle in January 2021: Mastercard

The 2021 kicked off with retail gains across nearly all sectors and all 50 US states, according to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment.

Jewellery retail sales in the US this January increased 3.3%, buoyed by an infusion of stimulus payments and the momentum of a stronger-than-anticipated Holiday season.

Overall US retail sales (excluding automotive and gasoline) increased 9.2% year-over-year, with online sales growing 62.1% compared to 2020, the report said.

In January 2021, the Department Store sector experienced its first year-over-year increase in sales (+1.5%) since 2019, boosted by strong online sales (+27.9%).

Moreover, e-commerce has become a critical driver of sales growth across the country. In California, for instance, online sales grew 77.4%, helping to lift retail sales overall to 7.9%.

“We’re living in a digital world. For consumers, e-commerce has emerged as a lifeline and a lifestyle. January’s numbers are just further proof of this ongoing trend,” said Steve Sadove, Mastercard Senior Advisor and former CEO of Saks, Inc. “A big, bright note from January is that consumers are spending. While we know that consumers are also saving their stimulus funds and paying down debt, these numbers show that stimulus is helping to boost sales for retailers around the country.”

No Comments Yet

Leave a Reply

Your email address will not be published.

Subscribe to our Newsletter

Discover the latest collections, news, and exclusive launches from us.