However, apparel and accessories will see 9.6% growth, driven mostly by sales of gold, silver, and jewelry.

This year has been characterized by strong demand for discretionary products like apparel, luxury, and jewelry goods. Luxury retail and jewelry sectors have been experiencing some of the strongest year-over-year (YoY) sales growth, per a September statement from Mastercard. These products will drive growth this holiday season as people return to social events.

Discretionary categories like jewelry, luxury, and accessories will make a big comeback this year. Consumer electronics will be the second-fastest-growing category at 12.5%, fueled by new devices, such as the iPhone 13 and Amazon Fire TV Omni Series, and strong demand for wearables. Meanwhile, categories like computers and monitors may experience some fatigue.

After seeing a lot of jewelry options in-store, particularly those that tarnished quickly, fashion and accessories brand Kendra Scott launched 18 years ago to fill a gap in the market.

Standout categories included jewelry (+82.6% YoY), apparel (+80% YoY), and restaurants (+61.4% YoY)—indicators that consumers spent more time and money outside their homes as COVID-19 restrictions eased and the vaccination campaign progressed. Opportunities abound: Here are some moves that could benefit Mastercard and help it take advantage of the recent spending surge.

Retail: Includes mail order/catalog, restaurants/fast food, drug stores, retail stores, cosmetics stores and merchants of apparel, home furnishings/textiles, toys, pet food/supplies, appliances, jewelry, and general merchandise. Travel: Includes airlines, car rental, hotels and resorts, cruises, destination marketing organizations; includes both leisure and business travel.

Retail: Includes mail order/catalog, restaurants/fast food, drugstores, retail stores, cosmetics stores, and merchants of apparel, home furnishings/textiles, toys, pet food/supplies, appliances, jewelry, and general merchandise.

Retail: Includes mail order/catalog, restaurants/fast food, drug stores, retail stores, cosmetics stores, and merchants of apparel, home furnishings/textiles, toys, pet food/supplies, appliances, jewelry, and general merchandise. Travel: Includes airlines, car rental, hotels and resorts, cruises, and destination marketing organizations; includes both leisure and business travel.

Wrist-tracking technology for watch and jewelry brands. Voice-enabled commands to allow users to view and engage with Lenses hands-free. Gesture-enabled controls that allow users to physically signal Lenses to take an action, like showing another item.