In February-March 2009 RusJewellerExpert Agency conducted the study “Assessment of the Jewellery Industry State in Russia and its Development Prospects”. According to the agency, the jewellery market volume in 2008 totalled $8.65 billion. Thus, growth versus the previous year was only 4.6%. As a reminder, RusJewellerExpert Agency analysts estimated the market volume in 2007 at $8.27 billion.

Development forecasts for 2009 are problematic and in the crisis conditions are of special character. Own product stock of sales companies may have considerable significance in such estimations. This information is important for assessment of jewellery supplies required in 2009, as after 1 January 2009, sales companies scared by the crisis practically ceased to order new collections, using jewellery already available in their stock.

RusJewellerExpert Agency analysts believe that real retail volume can be calculated based on the understating that about 70% of manufactured products are sold. Up to 30% of the remaining unsold products go to the stock, i.e. remain on the counters of jewellery shops becoming their own goods. At the start of the crisis (in December 2008) the own stock of products belonging to jewellery retailers was approximately equal to the stock of last two years.