Sokolov: Russia’s jewelry market falls by 8% in January–March

MOSCOW, Jun 8 (PRIME) -- Russia’s jewelry market decreased by 8% on the year to 80 billion rubles in January–March, jewelry holding company Sokolov said on Thursday.

"The retail jewelry market reached 80 billion rubles in monetary terms in the first quarter of 2023, which is 8% below the figures of the same period last year. However, several Russian regions saw growth of jewelry retail sales," the company said.

Sales in the Omsk Region grew by 16% to over 851 million rubles, with the average check rising by 29% to 6,412 rubles.

Sales in the Rostov Region increased by 14%, the average check by 22% to 7,949 rubles.

Sales in the Stavropol Region amounted to more than 1.1 billion rubles, the average check increased by 23% to 7,785 rubles.

(81.4581 rubles – U.S. $1)

End