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Online Jewelry Sales Grew 45% During Holiday Season, According to Study

But overall jewelry sales were down 4%.

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PURCHASE, NY — Jewelry e-commerce sales were up 44.6 percent during the expanded holiday season, running from Oct. 11 through Dec. 24, according to Mastercard SpendingPulse.

Overall jewelry sales were down 4.3 percent compared with the same period in 2019.

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Overall holiday retail sales excluding automotive and gasoline increased 3 percent. Online sales grew 49%, the preliminary insights show. Mastercard SpendingPulse measures overall retail spending trends across all payment types, including cash and check.

“American consumers turned the holiday season on its head, redefining ‘home for the holidays’ in a uniquely 2020 way. They shopped from home for the home, leading to record e-commerce growth,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Inc. “And, consumers shopped earlier than ever before. Across our expanded 75-day holiday shopping season, sales were up 3.0%, a testament to the holiday season and strength of retailers and consumers alike.”

Key findings from Mastercard SpendingPulse underscore the shift to online spending, with e-commerce accounting for 19.7 percent of overall retail sales – up from approximately 13.4 percent in 2019. In addition, consumers continue to spend more time – and money – on their homes.

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  • Home furniture and furnishings experienced the strongest growth of any sector compared to 2019, up 16.2 percent, and it grew 31 percent online specifically. In addition, home improvement was up 14.1 percent, with e-commerce sales up 79.7 percent.
  • Meanwhile, apparel experienced a decline of 19.1 percent year over year, while electronics and appliances were up 6.0 percent overall.
  • Department stores saw overall sales decline of 10.2 percent and online sales growth of 3.3 percent, reinforcing the importance of omnichannel offerings. Buy online, pick up in store as well as technologies like contactless were key for retailers this season.

This season, U.S. consumers shopped far earlier than in years past, as retailers offered special promotions early and often. In addition, though Black Friday was down (-16.1 percent), Thanksgiving weekend through Cyber Monday remained a key time for shoppers, with Black Friday being the top spending day of the 2020 holiday season.

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Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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