American shoppers spent heavily on jewellery and apparel during Thanksgiving weekend, with US retail sales surging 14 per cent compared to the same period last year, according to Mastercard SpendingPulse.

Holiday sales from November 26 to November 28 also surpassed 2019 figures by 5.8 per cent. Jewellery, which soared 78.4 per cent and apparel and department stores, which saw a 51.2 per cent 19 per cent increase, respectively, were identified as key drivers. 

Mastercard SpendingPulse measures overall retail sales across all payment types including cash and check. It said in-store sales rebounded, increasing 16.5 per cent year on year while e-commerce sales were up 4.9 per cent from 2020.

This momentum was sustained on Cyber Monday, November 29, with online sales sustaining their upward trajectory. “E-commerce continues to dominate the retail landscape as the latest Mastercard SpendingPulse insights show an 8.7 per cent increase in sales on Cyber Monday compared to last year,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Inc. “Coupled with a strong Thanksgiving weekend, retailers continue to see healthy consumer spending this holiday season.”