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...

16 april 2024

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

Study finds which jewelry Russian customers of different ages prefer

26 january 2024

Jewelry company 585*GOLDEN updated its client data and reported how the demand for jewelry changes with the age of buyers.

The retailer's customer base today includes more than 21 million people. 71% of them are women and 29% are men. The most active group consists of buyers aged 25-44 years - they account for 49.3% of the products sold.

According to the study, customers aged 45-64 years purchase 20.9% of products. At the same time, the highest average check is recorded in this age group at 9,863 rubles for women and 12,057 rubles for men.

The third place in the ranking is occupied by young people aged 18-24 years with 10.6% of sales, and elderly people aged 65+ account for only 3.2% of jewelry sold. 16% of buyers refrained from giving information about their age.

The structure of demand varies depending on the age of buyers, but in all age groups, the most in-demand product remains earrings made of precious metals, their share in the purchase portfolio is 24-27%. Among the male audience of the brand, this product accounts for 24.3% of sales.

Besides earrings, rings (21% of purchases) and bracelets (11%) are the most popular among young people aged 18-24. In the age groups of 25-44, 45-64 and 65+ year-olds there was an increase in demand for chains made of precious metals from 14% to 19%.

As for wedding rings, the highest demand for them was noted among consumers aged 18-24 and 25-44 years - 9% and 6% of the total number of purchases, respectively.

Interestingly, even at the age of 65+ the demand for wedding rings does not drop to zero, and amounts to 2%.

Alex Shishlo for Rough&Polished