Black Friday saw a strong showing for the jewelry sector, with e-commerce sales surging and overall demand positive, according to initial data releases.
Online sales in the segment rose 114% year on year for the November 24 shopping day, Adobe Analytics reported Saturday. E-commerce spending across all categories climbed 7.5% to a record $9.8 billion, beating the data provider’s prediction of $9.6 billion. Other sectors that performed well were electronics, apparel and toys, it added. Overall sales on Thanksgiving rose 5.5% to a record $5.6 billion, matching Adobe’s forecast.
Online and in-store sales rose 2.5% year on year on Black Friday, according to a separate report from Mastercard SpendingPulse. In-store revenues were up 1.1% from the same day a year ago, while the company estimated an 8.5% increase in e-commerce sales.
“Consumers are navigating the holiday season well and taking advantage of holiday promotions, giving them ample choice as they hunt for gifts for everyone on their list,” said Mastercard senior adviser Steve Sadove. “While experiential gifts have been the popular choice the past few years, consumers continue to search for something to unwrap for the holidays, with jewelry and apparel being the top gift sectors of the day,” Mastercard added.
SOURCE: RAPAPORT NEWS
For more Updates Do follow us on Social Media
Facebook Page https://bit.ly/3blw5Rg
Instagram https://bit.ly/3MsRHbP
YouTube https://bit.ly/3LjGj2L
Twitter https://bit.ly/3E9IO5U
Linkedin https://bit.ly/3M17Xlk
WhatsApp Group https://bit.ly/jewelbuzz2