Report: Jewelry sales up for holiday '09-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

Report: Jewelry sales up for holiday '09

12/30/2009 8:33:37 PM

Purchase, N.Y.--Jewelry sales are up 5.6 percent for the 2009 holiday shopping season, according to MasterCard Advisors' SpendingPulse report.

The report, which tracks national retail and service sales, compared the holiday selling seasons--including the Nov. 1-Dec. 24 period and the Black Friday-Dec. 24 period--in 2008 and 2009.

The data showed year-over-year sales growth for the period between Black Friday and Dec. 24 in all sectors measured, including electronics, specialty (apparel), e-commerce and luxury, and positive growth in six of the 10 sectors measured from Nov. 1 through Dec. 24.

"Overall this year, we have seen increasing stability in spending, as opposed to the free-fall of 2008," Michael McNamara, vice president, research and analysis for SpendingPulse, said in a media release. "This is especially significant considering that prices have been holding up this season, without the broad emergency discounting that consumers benefited from during the 2008 holiday season."

Tempering the results, however, is the fact that there was an extra shopping day this year compared with last year's holiday season. Adjusting for this could decrease the season's year-over-year growth statistics anywhere from 2 percent to 4 percent.

A few additional anomalies exist for the season this year, according to the report.

"Early discounting in 2008 drew holiday spending into early November, while this year, shopping didn't really take off until Black Friday," McNamara said. "That shift in sales patterns is one of the factors that made November of this year look weak and December look stronger. That's why it's important to look at numbers for November and December combined. Finally, several major winter storms disrupted traffic to brick-and-mortar locations that seemed to benefit online shopping growth rates."

Looking at the jewelry category, after a volatile two months, jewelry ended the season up 5.6 percent, with both high and low ends of the category showing marked strength, the report states.

Excluding jewelry, the luxury category in general showed some weekly improvement throughout December and finished the season with a slight increase of 0.8 percent over the 2008 holiday season. The category would have performed more weakly without the additional shopping day this year, according to the report.

As for additional categories studied, e-commerce was the big winner this year, with seasonal sales up 15.5 percent during the Nov. 1-Dec. 24 period, and up 18 percent for the period between Black Friday and Dec. 24. The sector showed year-over-year improvement every week since the beginning of the season, with double-digit growth in all but one of those weeks.

Specialty apparel made something of a recovery, finishing down only 0.4 percent for the season to date beginning on Nov. 1. Taking a Black Friday-Dec. 24 view, the category is in positive territory, showing a 2.3 percent year-over-year gain. Women's apparel sales were down 0.3 percent for the season to date beginning on Nov. 1, while men's apparel sales for the same period were up 3.9 percent.

Finally, after a strong November, electronics sales began to slow down in the first two weeks of December, but then spiked in the week prior to Dec. 24, helping the category finish the season up 5.9 percent for the November-December period and up 6 percent for the Black Friday-Dec. 24 period.

The data in SpendingPulse's reports is based on aggregate sales activity in the MasterCard payments network, coupled with survey-based estimates for other payment forms, such as cash and check. MasterCard SpendingPulse does not represent MasterCard financial performance.

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