Sales of jewelry in Russia in 2021 increased by 20-25% compared to the previous year, when there was a decline, Izvestia was told in the Association “Guild of Jewelers of Russia”. The trend was confirmed by market participants.
Last year, the average check for jewelry also increased – by 27% compared to 2020 and by 17% compared to 2019, said Alexey Feliksov, CEO of 585*Zolotoy.
“During the pandemic, we have seen a decline in consumer interest in jewelry. The trend towards rational consumption during the crisis and uncertainty about the future affected. However, in 2021, according to our data, demand began to grow – in monetary terms, sales increased by 12%, ”said Anastasia Tugbaeva, Marketing Director of the Adamas chain of stores.
According to the company, the greatest interest fell on products with diamonds. In 2021, the demand for this category of jewelry increased by 20% compared to 2020. The growth in demand for diamond jewelry was also confirmed by the Russian diamond mining company Alrosa.
The growth in demand for jewelry is associated with the redistribution of expenses planned for travel – people refused to travel, but they had a need to spend money on beautiful items, Eduard Utkin, general director of the Russian Jewelers Guild association, confirmed the trend.
According to the president of Almaz-Holding, Flun Gumerov, the growing demand for jewelry is also associated with a limited supply: if in 2014 almost 100 tons of jewelry were produced in Russia, then in 2020 – only 39 tons.
Read more in the exclusive Izvestia article:
Diamond Background: Jewelry Demand Up 25%
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
