Holiday Boost: US Jewelry Spending Up 4%
December 30, 24
(IDEX Online) - Consumers in the US spent 4.0 per cent more on jewelry this holiday season than last, according to Mastercard SpendingPulse.
That's in contrast to a 2.0 per cent drop in 2023.
Overall spending across all sectors was up 3.8 per cent in the 1 November to 24 December, according to preliminary insights. The figure includes online and in-store purchases by all payment types. It excludes auto.
Overall spending for the 2023 holiday season was up by 3.1 per cent.
The last five days of the holiday season accounted for 10 per cent of all holiday spending.
The biggest spending increase was 6.3 per cent for restaurants. In-store apparel fared worst, down 0.2 per cent.
"This holiday season, we saw consumers motivated by deals and retailers respond with promotions to meet the demand," said Steve Sadove, senior advisor for Mastercard.