According to the data collected from SpendingPulse, retail diamond jewelry sales in the US has climbed up with about 2.6% over the last holiday season.
The sales of luxury jewelry which includes diamond and gemstone jewelry has also shown up a shoot up than the last year’s hike by 2.8%. According to the figures declared by retail intelligence company Research and Markets, diamond jewelry and loose diamonds cater to about 46% of total retail jewelry sales in the US.
According to Scott Krugman of the National Retail Federation, US consumers seem to be "willing to overdo – they like the selection, they like the uniqueness and they like the price points. More importantly, they have the spending power," Krugman noted.
During the holiday season Americans have been noticed to be spending more on clothing, luxury goods and even furniture, which was shared by MasterCard Advisors' SpendingPulse, which is involved in tracking the spending across all transactions including cash. The major shopping was done through online category. Consumers were not very much excited in buying consumer electronics which was dragged down by deep discounting of TVs amid a glut..
Michael McNamara, vice president of research and analysis for SpendingPulse was reported saying that "This is the first normal Christmas in three years, and there is "genuine demand" for a variety of products, like diamond bracelets even higher-ticket items.
According to SpendingPulse, the sales of clothing rose up to 9.8 percent, majorly men's clothing, jewelry revenue rose 2.6 percent and furniture rose 3.4 percent.
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