In the nine months of 2023, growth leaders in the jewelry retail market were Rostov-on-Don, up by 33 percent, followed by Omsk with 32 percent and Krasnodar at 31 percent. These figures come from a SOKOLOV study that the editorial team of socialbites.ca has obtained a copy of for reference.
For the same period, the highest average purchase value for jewelry was recorded in Moscow, at 12,347 rubles. Krasnodar ranked second with 8,867 rubles, narrowly edging out St. Petersburg at 8,815 rubles. In other large cities, where sales exceed one million rubles, the average ticket ranged from 5.4 to 7.9 thousand rubles.
When it comes to total sales, Moscow led the way with 42.9 billion rubles, followed by St. Petersburg at 15.3 billion rubles. Rounding out the top five were Yekaterinburg with 4.1 billion, Krasnodar with 3.8 billion, and Novosibirsk with 3.6 billion.
Analysts say the market recovery was driven by online sales, whose share rose from 19 percent to 23 percent and then reached 50 billion rubles in value. Alina Kolpakova, head of the analytical center, noted that a 95 percent surge in marketplace sales played a crucial role in this trend.
Overall, the market expanded by about 13 percent in monetary terms over the nine months, totaling 246 billion rubles. Projections suggest growth in the range of 12 to 15 percent by year-end. More than a third of jewelry sales, about 36.6 percent, come from the Central Federal District, with the Volga Federal District the second-largest contributor at 14.3 percent.
Rings and chains continue to lead sales, while earrings and pendants remain particularly popular among women. Among men, bracelets and watches are strong sellers. In terms of weight, silver holds a dominant share of approximately 75 percent, whereas gold accounts for about 25 percent, with 585 red gold showing the highest demand.
The market narrative for 2023 reflects a clear trend toward online channels, higher average tickets in major urban centers, and continued strength in classic categories like rings and chains. This dynamic aligns with broader retail patterns seen in similar markets, where e-commerce and cross-border platforms influence buying choices and brand reach across North America and Europe.
Looking back at historical patterns, preferences for certain types of jewelry were evident in earlier years as well, with traditions and seasonal tastes shaping what Russians and other consumers favored in 2023. The shift toward online shopping mirrors shifts seen in many global markets, underscoring the importance of digital visibility for jewelry brands aiming to grow their share in both Canada and the United States.
Meanwhile, regional performance highlights show that major metropolitan hubs continue to drive overall volume, but mid-sized cities also contribute meaningful gains. This dispersion indicates opportunities for retailers to balance online strategies with localized assortments that resonate with regional tastes and income levels.
As markets evolve, the focus for retailers remains on product mix, value perceived by buyers, and the seamless integration of online and offline experiences. The combination of classic jewelry categories, attractive pricing strategies, and robust online marketplaces is likely to shape competitive dynamics through the remainder of the year and into the next cycle in North American markets.