The jewelry market in Russia is undergoing significant transformations. The changes affected not only the assortment, but also the very approach of buyers to the choice of jewelry. What key trends affect areas and form new consumer habits?
Online, locality, versatility, personalization: trends driving the market
In recent years, Russian jewelers have been forced to continuously adapt to a number of challenges – from exchange rate fluctuations to changes in global supply chains. Under the influence of this process, several trends have formed that today determine the development of the sphere.
First of all, this is the increased interest of buyers in local brands. Consumers increasingly prefer Russian manufacturers – this is due to both patriotic sentiments and import restrictions.
At the same time, the importance of online channels continues to grow. The share of online sales is steadily increasing, buyers have lost their distrust of buying jewelry via the Web.
There is also a shift in focus to everyday jewelry. Jewelry is no longer perceived solely as a holiday accessory – customers are now looking for versatile items to wear daily. For the same reason, the number of purchases of jewelry from combinations of yellow, white and rose gold is growing.
At the same time, consumer preferences have become more diverse. In particular, if earlier diamonds dominated the total sales flow, today the audience’s interest in sapphires, emeralds, spinels and other colored minerals is growing. The popularity of unique materials and products with unusual inserts – opal, tourmaline, tanzanite – has also increased. This is due to the desire of consumers to be unique.
Another key trend in the jewelry industry is personalization. More and more buyers order jewelry according to an individual project, creating unique products with a personal meaning.
Jewelry with personal inscriptions, coordinates, important dates and symbols for the client are popular.
How consumer jewelry preferences are formed
The taste of Russian buyers largely depends on global trends. The main ones today can be considered:
- Minimalism and conciseness. Decorations become more restrained, with an emphasis on shape and texture rather than an abundance of decor.
- Natural inspiration. Popular designs with motifs of flora and fauna, organic forms and smooth lines.
- A mix of styles. Combining classics with modern touches, contrasting materials and unexpected combinations attract attention.
What influences the decision to buy jewelry?
The choice of decoration in practice depends on a complex of factors. For Russian consumers, first of all, quality and uniqueness are important. They are looking for products with a high level of processing and original design. The decoration should “attract” – be it the history of the stone or special symbolism.
Also, when choosing jewelry, buyers are guided by what is already in their “jewelry wardrobe” in order to combine products. All this is due to the already mentioned fashion for personalization.
The name of the brand remains an important factor, but the accents have changed. The focus is now on values, not just a name. Important issues for buyers are not only a recognizable logo, but also the brand philosophy: history, approach to creating jewelry, and its vision of its mission.
Mindfulness can be highlighted separately. Issues of sustainable development and ethical stone mining are becoming relevant in the jewelry sector. Consumers are more often interested in the origin of both minerals and metals, pay attention to the environmental aspects of production. For such buyers, the availability of appropriate certificates becomes an important factor in making a decision.
For some consumers, the factor of preserving the cost of decoration over time is important. This group is interested in buying investment attractiveness of products.
At the same time, jewelry brands staying active online have higher sales. Social networks and influencers not only dictate trends, but also play the role of a “showcase,” so users learn about new brands or see a product that is interesting for themselves. And the format of virtual fitting and consultation with experts contribute to the decision to purchase even without physical contact with the product.
What to prepare for: the future of the jewelry market in Russia
In general, the Russian jewelry market is becoming more mature and diverse. In the coming years, the digitalization of the sphere will definitely continue – we should expect further growth in online sales and the widespread introduction of AI and augmented reality technologies by brands.
The role of local companies will also increase. Customers increasingly appreciate the unique products from small workshops that offer exclusive design and personalization. Therefore, jewelers need to think not only about design and quality, but also about emotional value.
By Julia Makhova, gemologist, expert on diamonds and colored stones, creator of the jewelry brand Nolabel