Russian shoppers have increasingly looked to jewelry purchases with a focus on value and affordability. A joint study conducted by the Internet Trade Companies Association and the SOKOLOV jewelry brand sheds light on this shift and provides a clearer picture of how online buying is reshaping the market.
The survey captured consumer behavior around buying jewelry from online stores. Analysts observed that in 2022 there was a noticeable rise in the volume and frequency of purchases of budget jewelry, defined as items priced around ten thousand rubles. The share of such budget purchases climbed to a substantial portion of total sales. Specifically, the portion of budget jewelry purchases rose from about seventy-three percent in 2021 to roughly seventy-eight percent in 2022, indicating a growing preference for affordable pieces among online shoppers.
Industry analysts also expect online channels to capture a larger slice of the jewelry retail market. A leading researcher from the SOKOLOV analytical center predicted that by 2023 the share of online sales in jewelry retail could reach about twenty-two percent of total jewelry sales, reflecting sustained online demand and the expanding digital shopping experience for jewelry buyers.
In the second half of the year, SOKOLOV reported continued momentum in the online and offline mix for jewelry sales, noting that silver jewelry pieces had shown significant growth. The brand highlighted that silver jewelry saw a notable increase in sales, underscoring a broader trend toward accessible precious metal jewelry within the domestic market. This growth signals consumer openness to silver as a fashion and value option, not just gold, and suggests retailers are broadening their online assortments to meet diverse tastes.
By late 2022, market intelligence indicated a total jewelry market value around two hundred eleven billion rubles, marking a strong close to the year. During the first nine months of 2022, however, the domestic market experienced a decline when compared year over year, revealing a nuanced picture where online channels helped sustain growth in certain segments while others faced softer demand. The overall trajectory shows that shoppers continued to embrace online shopping for jewelry, balancing price sensitivity with a heightened interest in stylistic variety and quality, even as macroeconomic pressures shaped purchasing patterns across the board.
Experts emphasize that the digital shift in jewelry retail is driven by a combination of factors: convenient access to product information, easy comparison across brands, the appeal of discounting and promotions, and the ability to explore a wider selection than what is typically available in traditional stores. Consumers increasingly rely on online reviews, virtual try-ons, and detailed product photography to make informed choices. Retailers respond by enhancing online catalogs, offering flexible payment options, and investing in secure shipping and returns to maintain trust in digital purchases.
Overall, the industry landscape points toward a gradual but persistent move toward online jewelry shopping in Russia. While brick-and-mortar stores remain important for customers who prefer tactile experiences, the online channel has proven its capacity to complement traditional shopping. The evolving mix suggests that consumers want the best value, rapid access to trends, and the assurance of reliable service, regardless of whether their purchase happens on a screen or in a store. This dual approach helps retailers reach a broader audience, sustain momentum in sales, and build lasting relationships with shoppers who increasingly view jewelry as both a personal statement and an accessible luxury. For researchers and market watchers, the data from AKIT and SOKOLOV offers a valuable snapshot of a market in transition, highlighting how digital channels are reshaping consumer expectations and retail strategies in the jewelry sector.