US Jewelry Sales are back on track since COVID-19 hit retail markets a year ago. According to Mastercard SpendingPulse, jewelry sales in the US increased 106% year on year in March. These figures are a result of government stimulus payments and a broader reopening across the country but also benefit from a strong base comparison with March 2020, when people first started social distancing which resulted in a dip in spending. However, in comparison with March 2019, jewelry sales rose by 30% which reflects a release of pent-up demand.
We see the same trend, but smaller, continuing in all retail categories with a 26% climb year on year and a 14% increase since March 2019. E-commerce revenue increased 57% compared to March 2020 and 86% compared to March 2019, a logical result from the pandemic and worldwide lockdowns.
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