Confounding the naysayers, the jewelry industry’s hot streak kept up in June—at least according to the latest data compiled by Mastercard SpendingPulse.
The sales-measurement service found jewelry sales grew 16.2% in June 2022 over the year before—a healthy double-digit increase, if less than the 22% gain the service recorded in May.
Overall jewelry sales for June 2022 rose a whopping 86% over pre-pandemic June 2019—the biggest three-year leap of any category measured by SpendingPulse.
Once again, jewelry sales outpaced sales in the larger luxury category (excluding jewelry), which posted a 4% increase, as well as overall retail sales, which showed a still-healthy 9.5% gain for the month. Overall e-commerce sales grew 1.1%, while in-store sales rose 11.7%.
Jewelry’s gains come despite a marked increase in spending on airlines and lodging. “Travel sectors such as airlines and lodging continue to show signs of strong demand,” said Stephen Sadove, senior adviser for Mastercard and former CEO and chairman of Saks Inc., in a statement.
The Mastercard SpendingPulse data is calculated using not just information from the company’s payment network, but retail sales across all forms of payment, including cash and checks.
SpendingPulse’s Data on Jewelry Sales for 2022
(Numbers are compared to the comp month in 2021)
June +16.2%
May +22.3%
April +33.3%
March +11.9%
February +22.4%
January +19.8%
Photo: Getty Images
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