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Jewelry Consumption Drops in Moscow

27 november 2009

Moscow's demand for diamonds, goldware and cars has plummeted, chairman of the City Consumer Market and Services Department Vladimir Malyshkov said during an Internet conference on Wednesday, RAPAPORT reported citing Itar-Tass news agency. In his words, the city authorities registered a decline in the sale of consumer durables, including jewelry, cars and expensive household appliances.
"I should say that the sale of jewelry and diamonds has declined, while food consumption has gone up, but Muscovites are buying cheaper products," Malyshkov said.
Muscovites have started buying more food than household appliances or other goods, the official said. "Earlier, the share of food accounted for 47-48 percent of the city's trade turnover. Now the share of food has reached 53 percent and that of non-food products stands at 47 percent," Malyshkov said.