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

585*GOLDEN discovers correlation between average receipt value and population of a city

15 february 2024

The 585*GOLDEN jewelry company conducted a study and found out how the average receipt for jewelry in Russian cities correlates with their population.

The study is based on statistical data on the entire network, represented in 80 regions of the country.

The comparative analysis took into account sales in million-plus cities (from 500,000 to 1 million inhabitants), large cities (from 200,000 to 500,000), large towns (from 100,000 to 200,000), medium towns (from 50,000 to 100,000), and small towns (less than 50,000).

The smallest average receipt for jewelry was recorded in small towns. It was 5% - 7% lower than average across the entire network. The highest receipt was observed in large towns and large cities (from 100,000 to 500,000 inhabitants). It amounted to 10,431 rubles per purchase in the group of 24-45-year-old customers and 10,902 rubles in the 45-64-year-old group.

For comparison, in million-plus cities, the indicators in the same groups were 3% and 6% lower, respectively.

Men aged 45-64 from cities with 200,000 - 500,000 inhabitants spend the most on buying jewelry. Their average receipt, including women's jewelry as a gift, was 12,446 rubles.

Large towns and large cities together accounted for 40% of the total volume of jewelry sold, while million-plus cities accounted for 27%. Medium and small cities each accounted for 15% of the network's sales, while the largest cities (from 500,000 to 1 million inhabitants) only recorded 9% of total volume.

Alex Shishlo for Rough&Polished