Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

585*GOLDЕN compiled a map of gold jewelry demand in Russia

29 september 2023

The analytical center of the 585*GOLDЕN retailer conducted a federal study of sales of gold products for the period from January to July 2023, mapping the demand for gold jewelry in Russia.

Comparative analysis showed an increase in the amount of sales of gold products by 16.9%. At the same time, the retailer's customers purchased 11.9% more jewelry, and the average receipt for gold jewelry in general in Russian cities increased by 8.7%.

In the structure of demand for gold products, the most popular groups were: chains, earrings with cubic zirconia and semi-precious stones, bracelets, wedding rings without stones.

The share of gold chain sales in the total volume was 12.3%, the average check on the retailer's network for them was around 12,202 rubles. The largest share in the structure of demand was recorded in Perm, Ufa, Krasnoyarsk and Volgograd.

Earrings with synthetic crystals occupy the second place in popularity among customers – their share in sales of gold products was 11.1%. On average, they were bought for 8,326 rubles. They were especially in demand among residents of Nizhny Novgorod, Kazan, Voronezh and Tyumen.

Gold bracelets took the third place in the rating, accounting for 8.5% of sales. The average check in the country was 9,648 rubles. The largest share in the structure of demand was noted in Kazan, Chelyabinsk, Perm and Omsk.

The share of sales of classic wedding rings was 7.5%. The average check was 17,604 rubles. The highest share in the structure of demand for this commodity group was noted in Rostov-on-Don, Krasnodar, Volgograd and Novosibirsk.

"If in 2020 60% of sales were for more budget silver, then in recent years the priority of more expensive products is obvious. Now, in the total number of sales of the 585*GOLDЕN, gold jewelry accounts for 56%, and in the total amount of sales, gold gives us 90% of revenue," commented Nikolay Kondratiev, director of the Department of Analysis, Forecasting and Research of 585*GOLDЕN.

The total weight of gold jewelry sold showed an increase of 21.7% and amounted to more than 2.5 tons in six months. The ratio of quantity to weight of products sold illustrates that customers began to purchase larger and heavier jewelry, which can also be considered as an investment.

Alex Shishlo for Rough&Polished