A third of Russians began to buy jewelry more often

A third of Russians began to buy jewelry more often in 2023, according to a study by Tinkoff Credit Broker (available from Izvestia).

Interest in them is growing, despite the fact that the check has grown by about 15%. Market players explained that the industry is recovering from a fall last year against the backdrop of a recovery in the income of Russians. What does the effect of “lipstick” and investments have to do with it – in the material of Izvestia.

More expensive gold
The Russians do not refuse to buy jewelry, despite the rise in prices, follows from a study by Tinkoff Credit Broker. More than a third of respondents (39%) note that in 2023, compared to last year, they did not change the frequency of purchases, and 36% of respondents even began to purchase jewelry more often.

Only one in five noted that they began to purchase such goods less frequently. As the main reasons, the respondents cite an increase in prices (45%) and a change in priorities in favor of more practical gifts (42%).

A jump in retail prices for jewelry was observed in the spring of 2022 against the backdrop of a sharp change in the dollar and gold quotes, after which the cost gradually began to decline, the study says. In December, the average market retail prices for jewelry were 14.2% higher than in December 2021.

In January 2023, according to Rosstat, in retail jewelry prices rose by 2.4% compared to the previous month, and in February by another 1.2%, the study notes. In the future, the positive dynamics continued: in April, prices rose by 2.6%, in May – by 1.9%.

According to the statistics of Tinkoff Credit Broker, the average installment payment for the purchase of jewelry in 2022 increased by 18% compared to 2021, to 37.4 thousand rubles. According to the results of the first quarter of 2023, the average check increased by another 11% to RUB 40.1 thousand.

The study also notes that most often a piece of jewelry is bought as a gift. This was mostly done by men (79% versus 39% of women). People under 25 years of age (51%) most actively bought jewelry as a gift. The reason for this most often was the birthday (60%), in second place – March 8 (32%), followed by the New Year (29%). The vast majority of Russians (78%) prefer to buy jewelry in offline stores.

About a third of respondents (34%) consider the cost in the range of 5-10 thousand rubles to be optimal for a piece of jewelry as a gift. Every fifth person said that the normal amount is from 11 to 15 thousand, 17% of respondents – 16-30 thousand. Only 6% of respondents are ready to give jewelry more than 30 thousand.