The Ministry of Finance of the Russian Federation plans to launch an online jewellery trading platform in March 2024, which will be an industry-specific marketplace, TASS reports.
Its model is planned to be tested during 2023-2024 with a possible implementation on other markets.
"The digital platform will be launched in 2024 and will be an industry-specific marketplace where buyers will be able to find the goods they need without going to the store's website, compare prices and make a choice of the product they like and, most importantly, receive goods in a short time and with a guarantee. In turn, for manufacturers, such a marketplace will become an opportunity to sell their goods without significant investments at the start," the ministry's press service noted.
"During 2023-2024, there are plans to test the model, examine the improved industry processes and technical solutions of the jewellery marketplace for digital trade."
At the current stage, the possibility of piloting solutions in third countries is also being analysed, external markets for piloting are determined taking into account digital opportunities and the availability of foreign partners to enter the market, the Ministry of Finance noted. "Among the priority countries in terms of business growth prospects for industry participants, logistics conditions, the potential for integrating digital mechanisms, consumer interest are the UAE, Vietnam, Thailand, China and others."
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
