In the first half of 2023, jewelry sales in Russia increased by 2% year-on-year, to 155 billion rubles, and by the end of this year, they may increase by 7%-10% to reach 330 - 340 billion rubles, which corresponds to the 2021 level, the Kommersant reports.
According to the results of the first half of 2023, three jewelry retail companies - Sunlight, 585 Zolotoy and Sokolov - grew at a faster pace than the market overall. In January - June 2023 their total sales increased by 40.3% year-on-year, to 63.4 billion rubles, and the share of these networks in the market increased by 11.2 percentage points, to 40.9%. During the specified period Sunlight's turnover increased by 60%, to 33.2 billion rubles, Sokolov's - by 34%, to 14.1 billion rubles, and that of "585 Gold" by 15%, to 16.1 billion rubles.
Nikolay Polyakov, CEO of Sokolov, expects that by the end of 2023, jewelry sales in monetary terms will grow by 12%-15% as a result of an increase in average retail prices.
Since the beginning of the year, the gold price in rubles set by the Central Bank has increased by 40%, and the average receipt for jewelry in January - September increased by 15%, to 7,260 rubles as compared to the same period of 2022.
Sunlight attributes the positive dynamics in the market to the restoration of traffic in shopping malls, the departure of a number of global jewelry brands from Russia and the development of online sales, the share of which reached 22.9% by July 2023 against 16.5% a year earlier, retail.ru notes.
Alex Shishlo for Rough&Polished
