Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...

23 september 2024

Vladimir Pilyushin: The jewelry market is not stand-alone and moves by the same laws as other markets

Vladimir Pilyushin is editor-in-chief of Russian Jeweler, a leading magazine about the jewelry industry in Russia. He told Rough&Polished about his view on the evolution of the jewelry industry in Russia and touched upon some of its problems.

16 september 2024

How Russians chose jewelry gifts for March 8

10 march 2023
The network "585* GOLDEN" summed up the sales results from March 1 to March 8.
The study showed that up to 60% of customers pay attention to whether they will receive a gift when buying, whether they will be able to apply bonuses and whether cashback will return.
A year ago the share of such customers barely reached 20%.
The growth (+2%) of such an indicator as Retention rate confirms how well the company builds long-term relationships with customers and reflects the growth of returned customers.
This year, for the March 8 holiday, the "585* GOLDEN"  chain offered two jewelry items for the price of one. An additional benefit was the purchase of gold and silver jewelry at the same time. In addition, for part of the assortment – the most popular products – prices were reduced by 2 times. In total, this gave an increase in the network's revenue in the period from March 1 to March 8 by 23.6% by 2022.
The maximum sales growth was shown by gold jewelry with diamonds and precious stones (+36%). Due to the promotion, silver products approached them (+30%). The most rational buyers chose gift certificates (+39.1%). The use of programs for exchanging old jewelry for new ones increased by 41%.
The average check increased by 5-10% relative to 2022 and amounted to almost 9,000 rubles, which was influenced by the increased demand for gold jewelry with diamonds and precious stones.
The most active buyers were residents of Siberia (+17% of the number of purchases) and the Urals (+25%). They also made more expensive purchases.

Alex Shishlo for Rough&Polished