Russians increased spending on jewelry by 31%

Russians' spending on jewelry in the week from October 28 to November 3 increased by 31.5% compared to the same period last year. This is stated in the review of the Center for Macroeconomic Analysis and Short-Term Forecasting (CMACP) based on SberIndex data, which was reviewed by Izvestia on November 20.

At the same time, absolute figures are not given.

"The most striking moment in the change in the structure of consumer spending was a sharp jump in jewelry sales, which is a sign of the perception (by the affluent part of the population) of the situation as a crisis," the experts of the CMACP believe.

The growth of Russians' incomes also has an impact. In the first half of 2024, according to Rosstat, salaries increased by an average of 18% in annual terms - up to 83.5 thousand rubles.

Earlier, on August 6, it was reported that Russians spent 199 billion rubles on jewelry in the first half of 2024, which is 29.3% higher than in the same period last year. This was reported by Sokolov Jewelry Holding with reference to its own research and aggregated data from SberAnalytics, AKIT and Rosstat. As noted, the market growth in the first half of this year was due to a 26% increase in prices by June 2023.