Retailers

Festive jewellery spending increases 29% YOY, Mastercard reveals

Events such as weddings were seen as a key driver for the uplift in jewellery sales, as is the assumption many wanted to treat themselves and loved ones this Christmas

Jewellery spending has increased 29% year-on-year in the run up to Christmas, according to the latest data by Mastercard SpendingPulse.

Events such as weddings were seen as a key driver for the uplift in jewellery sales, as is the assumption many wanted to treat themselves and loved ones this Christmas.

Overall, UK retail sales increased 9% year-on-year between 1 November and 10 December.

In the UK, the high street has rebounded with in store sales up 26% compared with the same period in 2020.

Kelly Devine, divisional president, Mastercard UK and Ireland, said: “Retail sales in the UK have shown good resilience so far during the 2021 festive season. Sales growth got off to a slow start in the first few days of November but then quickly recovered to post positive results compared to a year ago.

“With the current uncertainty around the impact of the Omicron variant, last minute Christmas shoppers are planning ahead to avoid missing out on the online delivery windows.”

Back to top button