According to the analytical center of SOKOLOV jewelry retailer, by the end of the first quarter of 2024, the Russian jewelry retail market in monetary terms reached 199 billion rubles, which is 29.3% higher than in the same period of last year.
The highest growth in jewelry sales was recorded in the Republic of Tyva (+59%), the Republic of Adygea (+45%), Rostov (+44%), Leningrad (+41%) and Amur (+39%) regions.
In terms of volume of the jewelry retail market, Moscow and the Moscow region took the lead, overtaking St. Petersburg as compared to the first quarter of 2024. Residents of Moscow spent 34.1 billion rubles (+24%) on jewelry in the first quarter of this year, residents of the Moscow Region — 12.3 billion rubles (+28%). St. Petersburg came in third place, spending on jewelry increased by 23% and has reached 11.7 billion rubles.
The highest average receipt for jewelry for the first half of 2024 was recorded in the Republic of Dagestan at 14,090 rubles. Moscow is in second place (13,389 rubles), the Sakhalin Region closes the top three, where the average check for jewelry at 12,219 rubles.
SOKOLOV's analysis of the dynamics of the jewelry market is based on its own market research and aggregated data from Sberbank, AKIT and Rosstat.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
