Jewelry purchases in Russia down by 24% in the past 11 months of 2020

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Jewelry purchases in Russia down by 24% in the past 11 months of 2020

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The number of jewelry purchases in Russia decreased by almost a quarter in the past 11 months of 2020, said TASS citing Platform OFD, the largest Russian operator of fiscal data.
“Retail jewelry sales decreased by 14% in the past 11 months of 2020 in value terms compared to the same period of 2019 and by 24% in volume (the number of purchases). At the same time, in April, the decline in sales exceeded 70%,” the company said in a statement.
The average purchase receipt was 6,970 rubles – 14% higher than last year.
In November 2020, sales were 11% lower than last year’s level, according to Platform OFD.
The Guild of Jewelers of Russia informed that sales of the country’s jewelry industry in rubles increased by 15% compared to last year, according to preliminary estimates.
At the same time, prices for jewelry products also increased – by about 60%, TASS said.

Alex Shishlo for Rough&Polished