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| 08.05.09. Brief review of the russian jewellery market |
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BRIEF REVIEW OF THE RUSSIAN JEWELLERY MARKET And Development Forecast For The Crisis-Affected Year 2009
The developing jewellery market of Russia backed by rich raw material resources is now one of the few free world areas for successful development of the jewellery business. Russia holds the world first place in resources of palladium and platinum metals, and is one of the leaders in gold and silver resources (70% of platinum and 15% of the world gold resources). In 2007 Russia reached the first position in the world in total weight of diamonds produced (38.2 million carat) and the second place in cost of the produced raw diamonds ($2.63 billion).
1.3.4. Russian industry jewellery exhibitions (it was exhibitions that became the instrument for positioning of trade marks in the Russian market and effective introduction of new marketing mechanisms stimulating sustainable purchase demand).
Since 2000, the annual growth of jewellery production has made 20-30%. Nevertheless, up to 40% of jewellery have been imported by the Russian enterprises after various patterns from abroad and certified as proprietary product. According to official returns, the volume of the Russian jewellery market in 2006 has exceeded the indexes of the aggregate jewellery production in the former USSR. The diamond jewellery takes the main share in the jewellery volume, which makes it about 50% in the volume of market sales volume.
Progress forecast for 2009 is problematic and has specific features under crisis circumstances. Current assesment of jewellery sales in early 2009 was made by RusJewellerExpert RIA in cooperation with the Secretary of The Russian Jewellery Trade Club through regional express-monitoring.
Four large jewellery retail networks are working in Russia today. Each of them includes over 100 shops. During recent years we can see development of trade systems in Siberia, Southern Federal District, in the Russia midland, in the Far East (the domestic companies, pretending to participate in the exclusive sector). The process of building the golden super-centers offering the full range of jewellery has started. Sharp competition provoked business integration of over 5,000 shops in 492 cities of the Russian Federation under single brand of The Russian Jewellery Trade Club. Now they compete with the big networks through common advertising and promotion to attract the buyer.
1. Address base of the RF leading trading organizations. |
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