In 2019, even though the Ukrainian economy is enjoying a continued recovery from the crisis of 2014 and 2015, with growing consumer incomes, jewellery is still unable to realise its full potential. Ukrainians’ incomes are still generally too low to be able to afford jewellery purchases, particularly as these are products that are not seen as being of prime necessity.
At the end of the review period Ukrainian jewellery was noted for consumers moving towards cheaper assortments. Silver jewellery became increasingly popular, with consumers able to look stylish and trendy at a lower cost compared to fine jewellery made of gold.
Ukrainian women are traditionally very keen on looking stylish and trendy, including with the help of jewellery. With this in mind, they are interested in all types of jewellery – earrings, necklaces, rings or bracelets.
In Ukraine, the fine jewellery industry was historically strong, with domestic manufacturers producing high-quality golden and silver products. However, in recent years the industry has no longer been flourishing, with the number of manufacturers significantly declining.
At the end of the review period affluent Ukrainian consumers were increasingly preferring branded jewellery rather than domestic assortments. Such products were used by them as a way to demonstrate high status and style.
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This industry report originates from Passport, our Jewellery market research database.