MOSCOW, December 12 Prices for jewelry in Russia in December 2023 increased by 30% compared to the same period in 2022, the jewelry industry said network «585*Golden».
«As of December 2023, the market average price for products increased by 30% compared to 2022,» says the company's research.
They added that the cost of one gram of gold rose by 16% over the same period, and the average price of jewelry made from this metal by 18%, although for certain product categories the increase was 26% compared to the previous year. According to analysts, before the jump in gold prices in September, the dynamics of the price per gram in 2023 across the network was 5%, and the growth of the average bill for gold products was 8.7%.
It is noted that prices for gold jewelry will continue to rise in 2024, as jewelry made from raw materials purchased at the exchange’s peak values in the fall of 2023 will go on sale.
It is also reported that in 2023, more than 80% of purchases are made through a mobile application, while customers are more likely to buy high-end jewelry offline.
Experts said that in general, in 2024, jewelry with natural precious and semi-precious stones will become more attractive for purchase; their cost has increased by 4-8%. Wedding rings made of gold will also remain in demand as jewelry, “the demand for which does not depend on exchange rate fluctuations and trends.”