585*GOLDEN, a jewellery retail chain, conducted an analytical study of sales of gold items in January-June 2024, reported on the change in gold jewellery demand and revealed which products Russians choose in 2024.
According to the study, for the first half of 2024, the monthly share of gold products in online sales consistently amounts to more than 50%, while the six months average exceeds 55%. It is more, albeit slightly, than in the first half of 2023.
The top 5 cities with the highest gold demand are St. Petersburg, Moscow, Novosibirsk, Rostov-on-Don and Yekaterinburg. The average check for gold products in January-June in the retail chain amounted to 21,246 rubles, and the highest checks in Russia in this category (over 30,000 rubles) were recorded in small towns of the Irkutsk region. The most popular gold models in the first half of 2024 were minimalistic smooth wedding rings with a width of 2 to 5 mm, earrings, rings and pendants with cubic zirconia, crosses, congo earrings and rings made of gold with diamonds and rhodium.
Among the cities, St. Petersburg became the absolute leader in terms of sales share for all popular models, with the highest sales figures for gold rings with diamonds and rhodium plating. The average check for laconic wedding rings and congo earrings amounted to 24,000 rubles and 9,275 rubles, respectively. In addition to St. Petersburg, these models are also most often chosen by customers in Novosibirsk and Moscow.
With the increase in gold prices, which was noted at the end of 2023, there is an increase in the average check by 47%. Despite this, the jewellery retailer's customers purchased 37% more gold jewellery this year than in the same period of 2023.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
