Market Research Report Economic Boom To Raise The Demand For Luxury Jewel

Economic Boom To Raise The Demand For Luxury Jewellery By Russians-
Ken Research
Imported brands have a great participation in luxury jewellery in Russia. Cartier,
Chanet and Chopard are the international brands for which luxury jewellery is
famous and it has a good reputation among Russian consumers. In 2015, there was
a fall in sales of luxury jewellery by 23% and a decline by 4% in 2016. The reason
behind the fall was the economic recession, which took place in the country.
In 2016, impact of recession was seen on the development of luxury jewellery.
Some consumers shifted from gold to silver, due to low disposable income in the
year. The crises of silver remained the same before and after the economic crises
but the price of gold fluctuated and shown a increase during the crises. Therefore,
the demand for silver was doubled in 2015, which has followed in 2016 as well.
Silver jewellery is considered swanky as it sometimes looks like white gold
jewellery.