Clothing, Jewelry Top this Year’s Most Purchased Christmas Gifts
- Apparently, clothing and jewelry were on a lot of people’s Christmas lists this year. Or, at least, that’s what they received on Christmas Day.
- Sales of clothing items climbed a staggering 47.3 percent from November 1st to December 24th, according to a report released by Mastercard. Sales of jewelry rose 32 percent over the same period of time, the report indicates.
- The emergence of the Omicron variant appears to have driven more people to shop online this year, as e-commerce purchases made up 20.9 percent of total sales, up from 14.6 percent in 2019, the report reveals.
Overall retail sales for the period between November 1 and December 24 rose 8.5% from last year, Mastercard MA said in its annual SpendingPulse report, the highest in seventeen years, lead by an 11% leap in online shopping.
Supply chain disruptions, alongside aggressive pre-holiday discounts from major U.S. retailers, meant shoppers spent the bulk of their cash earlier this year, peaking with a 14.1% year-on-year surge in sales over the Thanksgiving holiday weekend, the report noted.
“Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves,” said senior Mastercard advisor and former CEO Steve Sadove.
“Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best dressed foot forward.”
Susan Saunders 12/28/21
