The number of jewelry stores in major Russian cities decreased by 4.5% by September
Quick Look
By September, the number of jewelry stores in Russian cities with a population of over a million decreased by 4.5% to 7.9 thousand points due to the closure of small players and the growth of online sales, while large chains continue to expand.
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Why It Matters
The Russian jewelry market is being transformed under the influence of the growth of online trading and the consolidation of network players.
By September, the number of jewelry stores in Russian cities with a population of more than a million people decreased by 4.5 percent year on year, to 7.9 thousand points. Kommersant writes about this with reference to data from the 2GIS service.
NF Group explained that the decline is due to the closure of stores of small market participants, while the largest retailers continue to expand. According to the Association of Retail Real Estate and Retail Experts (ATER), Sunlight opened 28 stores in a year, and Sokolov grew by ten percent compared to the beginning of 2025 - to 1.1 thousand points.
At the same time, according to Check Index, the number of purchases in jewelry stores fell by six percent in January-August. In this case, the Internet is having an impact - the number of online orders has increased by ten percent. For example, at Sokolov, remote sales account for about 40 percent of its total turnover.
Because of this, maintaining some points brings losses to retailers. As the head of the retail real estate department of CMWP Zulfiya Shilyaeva explained, the annual costs of renting space for one store can reach one hundred million rubles a year.
Open Questions
- What are the total financial losses of small market participants?
- Will the closure of offline stores continue until the end of the year?
