Valentine's Day Drives 6.5% Growth in US Jewellery Sales in January, with Online Sales Surging 63.6%: Mastercard SpendingPulse
Valentine's Day contributed to a 6.5% rise in US jewellery sales in January, according to data from Mastercard SpendingPulse. Jewellery sales in the lead-up to Valentine's Day were up 10.2%, while online sales jumped 63.6% compared with the same period last year.
Despite the boost in sales, the pandemic continues to affect the US jewellery market. Consumers are still more cautious with their spending and are less likely to purchase high-end items. As a result, the market is seeing an increase in lower-priced and personalised jewellery pieces.
Mastercard SpendingPulse tracks spending across all payment types, including cash and check. The data shows that overall US retail sales (excluding automobiles and gasoline) rose 9.2% in January.
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