FinancialsSep 02, 2021
Signet’s Q2 Sales Double Year-Over-YearSurveysSep 22, 2021
Jewelry Sales Surge Expected to Continue Through the Holidays
Mastercard’s SpendingPulse survey said early shopping, bigger price tags and digital experiences will be the hallmarks of holiday 2021.
Mastercard’s SpendingPulse survey predicts jewelry sales will grow 59 percent year-over-year this holiday season. The prediction shouldn’t surprise anyone in the fine jewelry industry, with diamond jewelry sales strong and business at recent trade shows robust. Pictured here are 18-karat gold and diamond pendants from designer Sara Weinstock spotted at the Couture show.
New York—Mastercard’s SpendingPulse survey predicts that the surge in jewelry sales that started in 2020 will continue through the 2021 holiday season.
U.S. retail sales (excluding automotive and gas) are expected to grow 7 percent between Nov. 1 and Dec. 24, the company said in a news release issued last week, with jewelry expected to be one of the top performers.
SpendingPulse has jewelry sales growing 59 percent year-over-year and 53 percent with compared with the 2019 holiday season, pre-pandemic.
The only category SpendingPulse forecasts to post stronger sales than jewelry is luxury (excluding jewelry), with sales nearly doubling year-over-year and growing 56 percent when compared with pre-pandemic levels.
The SpendingPulse prediction should come as no surprise to those who follow the fine jewelry industry.
Sales have been strong since mid-2020, with money normally spent on vacations, dining out, going out and traveling diverted to jewelry.
The industry’s two biggest mining companies, De Beers and Alrosa, have remarked continually on the strength of diamond jewelry sales in the U.S., and exhibitors at recent jewelry trade shows, including JA New York and the Las Vegas shows, said attendees came ready and needing to buy.
Related stories will be right here …
U.S. retail sales (excluding automotive and gas) are expected to grow 7 percent between Nov. 1 and Dec. 24, the company said in a news release issued last week, with jewelry expected to be one of the top performers.
SpendingPulse has jewelry sales growing 59 percent year-over-year and 53 percent with compared with the 2019 holiday season, pre-pandemic.
The only category SpendingPulse forecasts to post stronger sales than jewelry is luxury (excluding jewelry), with sales nearly doubling year-over-year and growing 56 percent when compared with pre-pandemic levels.
The SpendingPulse prediction should come as no surprise to those who follow the fine jewelry industry.
Sales have been strong since mid-2020, with money normally spent on vacations, dining out, going out and traveling diverted to jewelry.
The industry’s two biggest mining companies, De Beers and Alrosa, have remarked continually on the strength of diamond jewelry sales in the U.S., and exhibitors at recent jewelry trade shows, including JA New York and the Las Vegas shows, said attendees came ready and needing to buy.
SpendingPulse also shed some light on when and where consumers are expected to shop this holidays season.
The company anticipates that consumers will spend 8 percent more online this holiday season than they did last year. Online sales are expected to be up a whopping 59 percent when compared with the 2019 holiday season.
But that doesn’t mean main streets and malls will be empty, as in-store shopping is expected to continue to recover, increasing 7 percent year-over-year.
Consumers are also expected to start shopping early again this year, lured by omnichannel promotions offered by retailers facing supply chain and labor shortage issues. This will be especially true in electronics, apparel and for department stores, SpendingPulse predicts.
In addition, both retailers and consumers will continue to use and embrace technologies that make shopping easier and more seamless, like buy online, pick up in store (BOPIS) and contactless payments.
SpendingPulse also expects consumers to splurge this season, thanks to high savings ratings and government stimulus checks, with jewelry and luxury expected to benefit.
“Over the last six months, the luxury retail and jewelry sectors have been experiencing some of the strongest YOY and YO2Y growth; that is anticipated to continue through the holidays,” the company said.
“This holiday season will be defined by early shopping, bigger price tags and digital experiences,” Steve Sadove, senior advisor for Mastercard and former CEO and chair of Saks Inc., said in the release.
“Over the past two years, retailers have learned a lot about what shoppers want and need, bringing us into an exciting new age of retail resilience. Retailers have been preparing for this moment and will find innovative ways to deliver on what’s bound to be the biggest holiday shopping season yet.”
Editors' Picks
Sponsored by
More on Surveys
The Latest
AuctionsSep 27, 2022
In Betty White’s Blockbuster Estate Sale, Jewelry Held Its Own Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”
CrimeSep 27, 2022
3 Suspects in Beverly Hills Smash-and-Grab Robbery ArrestedA total of four suspects are now in custody with police still on the lookout for the remaining two.
ColumnistsSep 27, 2022
Creative Connecting: Fun Ideas for Holiday 2022 In-Store EventsFrom a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.
Brought to you by
6 Steps to Start a Dynamic Company CultureLearn how to better serve your employees, customers and community by having a dynamic and supportive company culture.
MajorsSep 27, 2022
Stuller Releases 2 Updated Catalogs Ahead of the Holiday Season “Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.
Weekly QuizSep 22, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
Events & AwardsSep 27, 2022
ICA’s 2023 Congress Will Be Held in Dubai The event will be hosted by the Dubai Multi Commodities Centre from Feb. 15-17.
IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 YearsThe store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.
Brought to you by
Committing to an Ethical Diamond BusinessWhile ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.
CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.
Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About InsuranceFrom safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.
TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry BoxIt’s the first time in 50 years the brand has made something other than jewelry.
Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design CompetitionThe competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.
CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New CollectionThe limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.
GradingSep 23, 2022
GIA Career Fair Returns to Carlsbad The Gemological Institute of America also announced plans for events in New York and London in 2023.
SourcingSep 23, 2022
See the Items in Gem Legacy’s 4th Anniversary Benefit Auction One hundred percent of proceeds will benefit the nonprofit’s silicosis prevention initiative.
CollectionsSep 23, 2022
Piece of the Week: Emily Weld Collins’ AmuletInspired by antique coins, it depicts a “hippocamp” from Greek mythology.
EditorsSep 22, 2022
4 Things Seen and Heard at the 2022 HardRock Summit Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.
TrendsSep 22, 2022
There’s a New Book on Tiffany & Co.Written by historian Vivienne Becker, it accompanies this summer’s Tiffany jewelry exhibition at London’s Saatchi Gallery.
Supplier BulletinSep 22, 2022
Using Commerce Data to Outshine the Competition in the Jewelry IndustrySponsored by Bloomreach
SourcingSep 22, 2022
First Diamond Recovered From Burgundy’s Ellendale Restart Burgundy also announced the retail launch of its diamond brand, Maison Mazerea.
Events & AwardsSep 22, 2022
JCK Industry Fund Now Accepting ApplicationsOrganizations with a project or initiative aimed at bettering the jewelry industry are encouraged to apply.
Lab-GrownSep 21, 2022
An Updated Look at the Lab-Grown Diamond Market: Size, Pricing, and More As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.
TrendsSep 21, 2022
These Are the Diamond Jewels to Stock for the HolidaysThese trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.
SourcingSep 21, 2022
A Day in the Life: Daniel Namdar, Fancy Color Diamond SpecialistNamdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.
Lab-GrownSep 21, 2022
Looking Ahead: 4 Factors That Could Shape Lab-Grown Diamonds’ Future Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.
AuctionsSep 21, 2022
Egyptomania at Sotheby’s: See the Egyptian Revival Jewels Heading to Auction The auction house is celebrating 100 years since the discovery of King Tut’s tomb.
MajorsSep 21, 2022
Claire’s Expands Walmart PartnershipThe chain’s jewelry and accessories are now available in 2,500 Walmart locations.
