Russians will spend more than 459 billion rubles on jewelry in 2024

At the end of 2024, Russia's jewelry retail market in monetary terms will reach 459.4 billion rubles, which is 25.6% higher than in the same period of 2023. This is stated in the research of SOKOLOV analytical center, which was reviewed by Izvestia on February 20.

According to the research of analysts, retail prices for the past year increased by 34% and continue to grow. The average check on the market following the rise in prices increased by 19% and reached 9 thousand rubles.

"The driver of market development was the record growth in online sales of jewelry. Over the year, the share of online jewelry sales grew from 23.4% to 28%. At the same time, 35.5% of all online sales, or 10% of the total market, were sales through marketplaces," said Alina Kolpakova, head of the SOKOLOV analytical center.

According to her, in December 2024, these figures were even higher than the annual average. At that time, the total share of online sales amounted to 30%, while the share of marketplaces reached a record 42% of online sales, or 13% of the entire market.

In addition, the market growth in monetary terms was significantly affected by the increase in average retail prices due to the dynamics of the Central Bank's (CB) accounting prices for gold. From January to December 2024, gold rose in price by 45%, to RUB 8552 per 1 g.

Earlier, on February 7, jeweler Elena Rakutina, an expert of SOKOLOV jewelry holding, listed trends in women's jewelry closet. She advised to give large jewelry. In particular, voluminous, blown shapes, organic, slightly irregular outlines of hearts, as well as heart-cut stones are topical.