In Russia, they wanted to create an analogue of Amazon

The Russian Ministry of Finance plans to launch an online jewelry trading marketplace

The Ministry of Finance wants to create an online jewelry trading marketplace aimed at a foreign buyer. There is such a proposal in a letter from Deputy Finance Minister Alexei Moiseyev to Tigran Sargsyan, Deputy Chairman of the Board of the Eurasian Development Bank (EDB), Vedomosti writes.

The Russian Ministry of Finance has agreed with the Belarusian EAEU to the world market. The deputy minister invites Sargsyan to take part in the creation of the IT infrastructure necessary for this.

To create an analogue of Amazon, it is necessary to digitize the internal processes of the industry in the participating countries and create a logistics system, Sargsyan noted. The marketplace will sell finished products, and delivery is planned to the buyer's door.

In Russia, the volume of jewelry sales last year amounted to 222 billion rubles, of which 30 billion fell on online trade. The Jewelers Guild estimates that online sales are ten percent. Experts note that the sale of jewelry for export is hampered by bureaucratic procedures, for example, many documents are required. At the same time, foreigners do not have much interest in Russian jewelry, said Eduard Utkin, General Director of the Guild of Jewelers.

Sales of luxury goods and expensive goods in Russia increased over the year. In January-September, watches were sold by 37.5 percent more than in the same period in 2020, jewelry – by 26.6 percent.