Online jewelry sales shoot up 66% in U.S. over holidays
With U.S. e-commerce sales reportedly increasing to a record high during the holiday period, the jewelry category put in a particularly strong performance in the last two months of 2020.
According to Adobe Analytics figures cited by Rapaport’s Diamonds.net, online jewelry revenues soared 66% in November and December 2020, compared to the same period in the previous year.
Across all categories, total online spending rose 32% to $188.2 billion during the period. This total came in just below Adobe’s initial forecast of $189 billion, given in October, but ahead of the analytics firm’s revised prevision of $184 billion, which was reported in December.
“In light of the pandemic, digital has become the primary way for people to connect, work, be entertained and ship, helping set online spending records for the holiday season,” explained director of Adobe Digital Insights Taylor Schreiner.
Average daily online revenues during the two-month holiday season were more than $3.1 billion, up from $2.3 billion in the prior-year period. For the first time, every day over the course of the season saw online revenues of over $1 billion.
Revenues were over $2 billion on 50 days of the holiday shopping season, compared to 29 days in 2019. Nine days saw online revenues of more than $4 billion, up from three days in the previous year.
During the five-day period between Thanksgiving and Cyber Monday, online sales were $34.4 billion, increasing 21% from the same period in 2019.
Commenting on the impact of recent developments in the coronavirus crisis, Schreiner added, “as Covid-19 cases continue to rise and more stringent lockdown measures return, online spending is expected to stay elevated, at least for the early part of 2021.”
Adobe’s figures are based on data obtained from monitoring trillions of visits to the U.S. websites of 80 of the top 100 online retailers. The firm expects to report its full holiday sales report on January 12.
Copyright © 2021 FashionNetwork.com All rights reserved.