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Luxury Retailers Can Bank on Last-Minute Holiday Shoppers

Black Friday and Cyber Monday may mean the biggest shopping days of the holiday season for certain industries, but according to MasterCard SpendingPulse, not every sector sees its greatest uptick that week. It turns out that holiday shoppers in the market for a little “bling” are more likely to purchase those big ticket items in the final days leading up to Christmas.

MasterCard Advisors, which publishes the monthly SpendingPulse report tracking retail sales across all payment types, anticipates that the biggest shopping day of the season for jewelry and luxury retailers will be December 21 – the last Saturday before Christmas, which is becoming commonly known as “Super Saturday.”

“The final weekend before Christmas always shows a significant spike in retail sales, but for the past several years, jewelry and luxury has really risen to the top of consumers’ last-minute shopping lists,” said Sarah Quinlan, Senior Vice President of Market Insights for MasterCard Advisors. “Last year, nearly 8 percent of jewelry sales that took place in December happened on ‘Super Saturday’.”

MasterCard Advisors’ ranked the top three days for holiday spending for overall retail and some key industries:

Total Retail sales:

  1. Friday, November 29
  2. Saturday, December 21
  3. Monday, December 23

Specialty Apparel:

  1. Friday, November 29
  2. Saturday, December 21
  3. Saturday, December 14

Luxury (excluding jewelry):

  1. Saturday, December 21
  2. Friday, November 29
  3. Friday, December 20

Jewelry:

  1. Saturday, December 21
  2. Monday, December 23
  3. Friday, December 20

 

“Retailers have become very savvy at marketing to all those procrastinators trying to find the perfect gifts for friends and family,” said Quinlan. “Even as consumers are still spending cautiously, one thing retailers can count on during the holidays is shop-weary men looking to make their significant others happy. And for a lot of men that means bring on the bling!”

For more SpendingPulse insights on holiday spending, join Sarah Quinlan for a free on-demand webinar.