Despite anecdotal talk of a slowdown, U.S. jewelry sales in April 2022 rose a healthy 33.3% over the prior year, according to the most recent data released by Mastercard SpendingPulse.
That’s nearly triple the increase that Mastercard posted for March 2022, where it saw that month’s jewelry sales rose 11.9% over the prior year’s.
U.S. jewelry sales for April 2022 were also up 51% over sales in April 2019, before the onset of COVID-19—a clear illustration of how the industry has grown during the pandemic period.
April’s jewelry sales numbers not only topped the overall increase in U.S. retail sales—7.2%—but also outstripped the gain in overall luxury sales (excluding jewelry), which rose 26%.
SpendingPulse data also found customers returning to brick-and-mortar stores, while e-commerce sales took an uncharacteristic drop.
Overall in-store sales grew 10%, while e-commerce sales fell 1.8%, the survey found. This “reflect[s] consumer demand to get out,” Mastercard said.
However, online sales have still risen 92% since before the pandemic, it noted.
In general, SpendingPulse “show[ed] spending across sectors in April,” said Steve Sadove, senior adviser for Mastercard and former CEO and chairman of Saks Inc., in a statement.
“Whether for a family barbecue, returning to the office, or senior prom, it seems like everyone is out shopping for something,” he added.
Mastercard SpendingPulse issues regular sales data incorporating all forms of payment, including cash and checks.
(Photo: Getty Images)
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