US Jewelry Sales Spike in FebruaryMarch 19, 23
(IDEX Online) - US jewelry sales enjoyed a "spike" during February, driven in part by Valentine's Day, according to Mastercard SpendingPulse, along with other gifting sectors.
But it didn't provide an actual percentage increase, as it generally does.
It did, however, say that apparel and department store sales - also classed as gifting sectors - saw growth of 3.9 per cent and 5.6 per cent respectively.
Overall sales excluding automotive were up 6.9 per cent year-on-year, according to data on in-store and online retail sales across all forms of payment.
"Following a dynamic holiday season, consumer spending returned to a familiar and healthy balance in February," said Steve Sadove, Mastercard senior advisor.
"Consumers have remained resilient, prioritizing discounts where possible to counteract inflationary pressures."