Marketing Management Project Jewellery buying Preference

Submitted to: Submitted by: Ms. Vandana Gupta number 04 Group
Garima Nagpal (A04) Prerna Gupta (A06) Tulika Agarwal (A13)

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Laveena Taneja (A14) Sharvi Raghuvanshi(A22)

CERTIFICATE OF COMPLETION
This is to certify that the research project entitled "Consumer’s preference among the branded and non branded jewellery “has been submitted by Group number, MBA- HR(2010 – 2012) This report is the result of their own work and to the best of their knowledge, no part of it has earlier comprised any other report, monograph, dissertation or book. This project was carried out under our overall guidance.

Signature of Faculty Guide Date Place

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CONTENTS
Contents........................................................................................................... 3 aCKNOWLEDGEMENT....................................................................................4 OBJECTIVE OF STUDY....................................................................................5 DESCRIPTION PROBLEM................................................................................6 significance of the study...............................................................................7 introduction...................................................................................................8 research methodology................................................................................22 Data analysis...............................................................................................23 Conclusion...................................................................................................37 RECOMMENDATION.....................................................................................38 literary review.............................................................................................39 bibliography................................................................................................44 QUESTIONNAIRE..........................................................................................45

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ACKNOWLEDGEMENT
A study such as this cannot be the work of a single group of six people. I hereby express deep gratitude to all those who have helped us directly or indirectly in completing this work and who have encouraged and inspired us all through the project. Words are inadequate to express our deep sentiments and gratitude towards my project mentor and guide, Mrs. VANDAN GUPTA, for her zeal and scholarly guidance during this pursuit in spite of her multifarious responsibilities. The word of acknowledgement is an expression of heart-felt thankfulness for her inspiration. Finally, we would like to thank the people who have taken time off from their busy schedule to help by providing us with their valuable inputs.

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3) Brand awareness of various brands in the jewelery market. 4) To have an idea about the parameters the consumers consider while buying jewellery. 5 .OBJECTIVE OF STUDY The objective to study the “A comparative study on the consumer’s preference among Branded and non branded jewellery” is to find out: 1) To compare between the consumer preference among the branded and non branded jewellery. 2) To know consumer perception towards jewellery.

since the time span for the study was only one month. 6 . 4) Awareness .DESCRIPTION PROBLEM The scope of study is limited due to the following reasons: 1) Time constraint .the sample taken and the conclusion drawn can be led to only one side if there is lack of awareness about branded jewellery.the sample size of the study is only 100 which would not give a comprehensive result. an in depth study and analysis will become a little difficult 2) Sample size . The conclusion of the study may not result to an accurate outcome due to the sample size being small. Many important samples may not be considered at all.

4) Are the various promotional strategies adopted to 7 .SIGNIFICANCE OF THE STUDY The gems and jewellery industry occupies an important position in the Indian economy and is one of the fastest growing industries in the country. 3) Does price play an important role in guiding their purchase decision. 2) How much impact does a brand/ retailer has on their purchase decision. Hence the research conducted would help us to: 1) Understand the consumers preference while purchasing jewellery.

Different dynasties ruled different parts of India with different monetary systems. Jewellery acted as a common medium of 8 . Many kings. emperors and dynasties featuring countless wars. conquests and political upheavals have ruled the Indian sub-continent. INTRODUCTION India has a historic relationship with Jewellery.combat competition.

Jewellery is valued as an important savings and investment vehicle in India. In marriages. Apart from its historical religious significance. land being the other main asset of economic value. As India makes rapid progress in the retail arena. Buying marriage. gold jewellery is the the near relatives of the bride and the groom.exchange or store of value across the monetary systems of different kingdoms across the sub-continent especially gold. Jewellery is very popular 9 . Hence wealth could still be preserved in spite of wars and political turbulence. construction of home. setting up of new business. the Indian sentiment and fanatical passion for gold. or evolve. religious ceremonies. Even in present times. with an upsurge in gold sales after a good agricultural season. Gold also helped preserve wealth through natural calamities and disasters and for centuries was the only means of saving in rural India. the wealth she takes with her when she remains hers. the Indian Jewellery market is and of gold is an important part of every stage of an Indian citizen’s life— at birth. Jewellery marries in gift among farmers. which holds true even today. preferred remains and the which India by Indian bride’s `Streedhan’. festivals. This has largely helped formulate. death.000 tonnes of gold. India is estimated to hold more than 11. Gold jewellery is the preferred jewellery worn by women irrespective of their religious beliefs.

All these reasons and more ensure that the modern Indian woman is looking for jewellery from a perspective different from the past. it is poised to grow. Today.000 crore. According McKinsey. less than Rs 1. organised retailing offers quality products. Jewellery retailing is moving from a ‘storehouse of value’ to a precious fashion accessory. Plain gold is gradually easing its stranglehold on the Indian consumer psyche to give way to diamonds.000 crore. follows standardised practices and uniform pricing strategy. the share of organised jewellery market is 10 . platinum and coloured gemstones. The young Indian woman who is the prime market for the organised retailers differr from the traditional jewellery customer in many ways as enumerated below.undergoing a gradual metamorphosis from unorganised to organised formats. independent estimation studies conducted by World Gold Council and the overall market share. The way jewellery was worn before is undergoing a tremendous change. This accounts to about 2-3 per cent of the total market share. In addition. •She is well educated and more in tune with international trends •Increase in working women with high disposable incomes •Greater mobility •Less constrained by traditions. But given that this is a relatively new segment of the market. goods and services offered by to out The the of jewellery business in India is estimated to be at Rs 50. Organised retail formats work on transparent policies that are not necessarily available at the traditional jewellery shops.

In Western and Northern India. STRUCTURE OF JEWELLERY IN INDIA •Plain gold Jewellery •Studded Jewellery •Silver Jewellery •CostumeJ ewellery India is the largest consumer of Gold in the world with annual demand close to 800 tons. making the style unique to each region.paisley motif of the mango. In addition. This has been the first step towards organized jewellery retailing in India. There are several examples of retailers who are drawing in consumers either across a wide swathe or a segment of socio-economic classification. Besides the major brandsTanishq. branded players require focused advertising and astute salesmanship to compete with traditional jewelers. Oyzterbay. the Mughal influence can be seen in the meenakari (enamelling) and kundan work. Jewellery is 11 . organised retailers have successfully implemented a change in the buying pattern of the Indian consumer. In South India the designs are inspired by nature . rice grains. melon and cucumber seeds. It is believed that 90% of this demand is directed towards manufacturing of jewellery. Carbon. Gili and Trendsmith several regional players have opened branches to leverage the trust and reputation that they have built up over the years. In a short span of time. clearly defined by them. etc.any retailer are strongly driven by their identified Target Group . Jewellery designs vary in different regions of India. The bulk of the Indian jewellery buying is still rooted in tradition and jewellery is sold in traditional designs.

which satisfies a consumer’s self esteem needs( according to the Maslow’s heirarchy of needs) a consumer displays complex buying behaviour. bangles. However for the studded gold jewellery. The logic is that the jewellery is primarily bought as an investment in gold. Plain gold jewellery is fabricated mainly in 22-karat gold and even 18karat is not favoured. While buying an expensive product for jewellery. Consumers undertake complex buying behaviour when they are highly involved in a purchase and perceive significant differences among brands. and investing in a low purity product does not appeal to the Indian consumers. CONSUMER BUYING BEHAVIOUR WHILE BUYING JEWELLERY While buying a product. consumer displays different kinds of behaviours towards different kinds of products from a tube of toothpaste to a new car. waistbands.nose rings. 18 karat has become acceptable. ceremonial elephants. ankles. as the mindset does not accept low purity gold jewellery.crafted not just for humans but also for the deities. Hence the variety of gold jewellery in India is truly mind-boggling and bears testimony to the excellent skills of Indian jewellers of today. and horses. More complex decisions usually involve more buying participants and more buyer deliberation. Ornaments are made practically for every part of the body . 12 . and so on. necklaces and special jewellery for the head.

Marketers of high involvement products must understand the information gathering and evaluation behaviour pf high involvement consumer.000 workshops supplying over 350. Jewellery was fabricated mainly in 18. purchased infrequently. single shop operations. risky. In 1993. This buyer will pass through a learning process. overseas banks and bullion suppliers were also allowed to import gold into India. Tiffany and Cartiers into the Indian market.Consumers may be highly involved when the product is expensive. 95% of which was used for jewellery. In the 1990s. then attitudes. they need to hellp buyers learn about the product. and highly self expressive. 22 and 24-carat gold.class attributes and their relative importance. and then making a thoughtful purchase choice. According to a survey done by the Bureau of Indian 13 . These measures led to the entry of foreign players like DeBeers. under-carat age was prevalent. first developing belief about the product. The bulk of the jewellery purchased in India was designed in the traditional Indian style. only the Minerals and Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold. In 1997. allowed large export houses to import gold freely Exporters in export processing zones were allowed to sell 10 percent of their produce in the domestic market. As Hallmarking was not very common in India. GOLD JEWELLERY MARKET IN INDIA Before the liberalization of the Indian economy in 1991. India had the highest demand for gold in the world. mostly familyowned. 855 tons were consumed a year.000 retailers. This led to a highly fragmented and unorganized jewellery market with an estimated 100. gold and diamond mining were opened up for private investors and foreign investors were allowed to own half the equity in mining ventures. The abolition of the Gold Control Act in 1992. In 2001. the number of retail jewellery outlets in India increased greatly due to the abolition of the Gold Control Act.

. Carbon and Tribhovandas Bhimji Zaveri (TBZ). launched its collection of diamond and 22 -carat gold jewellery in 1997. a Mumbai-based jewellery exporter. Over 80% of the jewelers sold gold jewellery ranging from 13. Other players who entered the Indian branded gold jewellery market during the 1990s and 2000-01 included Intergold Gem Ltd. Gitanjali Jewels also started selling 24-carat gold jewellery in association with a Thai company. Dagina. The late 1990s saw a number of branded jewellery players entering the Indian market. launched its own range of studded 18-carat jewellery. The Mumbai-based group. Su. sold 18carat gold jewellery under the brand name Gili. Cartiers entered India in 1997 in a franchise agreement with Ravissant. Beautiful. most gold jewellery advertised in India as 22-carat was of a lesser quality. while Gitanjali Jewels. BRANDED DEALERS TANISHQ 14 . Titan sold gold jewellery under the brand name Tanishq. which marketed the Tiffany range of products in India.5 carats to 18 carats as 22-carat gold jewellery. Oyzterbay. Pranda.Raj (India) Ltd.Standards (BIS).

By 2002. 15 . Initially involved in the watches and clocks business. the 18-carat jewellery range was expanded to include 22 and 24-carat ornaments as well. it sold most of its products through multibrand stores. When Tanishq was launched. Tanishq planned to open 70 stores by the end of 2003 and offer a range of 'wearable' products with prices starting at Rs. With sales of Rs.66 billion in 2000-01. 400. In 1998. Tanishq is considered to be a trendsetter. Tanishq retailed its jewellery through 53 exclusive stores across 41 cities. Tanishq had a 0. In the same year.' to 'Titan Industries Ltd. Tanishq decided to set up its own chain of retail showrooms to create a distinctive brand image. Titan changed its name from 'Titan Watches Ltd. Among the branded jewellery players in the Indian market. Realizing that such jewellery did not sell well in the domestic market. When it was launched in 1995. In 1995. 2.66 percent share of the total jewellery market and a 27 percent share of the branded jewellery market. The market of tanishq jewellery is growing since long time. Tanishq began with 18-carat jewellery.' in order to change its image from that of a watch manufacturer to that of a fashion accessories manufacturer. Questar Investments Limited (a Tata group company) and the Tamil Nadu Industrial Development Corporation Limited (TIDCO) jointly promoted Titan Watches Limited (Titan). To meet increasing demand. it also started its jewellery division under the Tanishq brand.In 1984. Titan later ventured into the jewellery businesses.

Figure 1 growth in sales from 2000 to 2008 in Million Rupees 16 .

40.2000 to Rs. This range included rings. catchy advertising and extensive press coverage contributed to the success of the collection. All Gili products came with a guarantee of diamond and gold quality Gili distributed its jewellery priced between Rs. the Gili Gold range was introduced. This collection consisting of tiny. the company is focused on penetrating the premium market of customized jewellery. The collection was promoted at college campuses with banners. 17 . Gili also made special promotional offers during festive seasons like Christmas and Diwali. 500 and Rs.GILLI Gili launched a collection of traditional Indian ornaments made of 18carat gold.000 through lifestyle and department stores across the country to increase accessibility among its target segment. pendants. Following this. heart-shaped diamond jewellery was well received by teens. Gili distributed its jewellery priced between Rs.000 through lifestyle and department stores across the country to increase accessibility among its target segment. 40. Special packaging. Gili soon realized that just pushing its product was not enough. it launched a Diamond Heart Collection specially designed for Valentine's Day. the 15 to 30 age group. Having captured the low price point market of Rs.10. Gianti. earrings. In 1999. For this Gitanjali jewels opened a jewellery salon. 500 and Rs. pamphlets and a few advertisements targeted at teens. to provide customized jewellery to clients in India. the 15 to 30 age group. it also had to customize its products for special occasions. necklaces and bangles made of 24carat gold. 000.

In less than a decade after launch. Between 2005 and 2007 the brand grew eleven times. the Nakshatra Utsav won the Best Trade Promotions award at the McDowell’s Signature All India Promo Awards. the IIGJ Award in 2007 and the Tahitian Pearl Awards in 2005 and 2007. So stunning has this impact been that within one year of its debut Nakshatra had registered a 93% top-of mind recall – surpassing every other diamond jewellery brand by a long margin (Source: Global Tracking Study conducted by Research International. brilliance and clarity – and made a deep impact on the Indian psyche. The effort to promote Nakshatra has gained recognition from more than just the retail trade. This recall has also been reflected in the volumes Nakshatra had achieved. More than 70% of jewellery retail outlets have reported that Nakshatra has not only played a key role in generating overall diamond jewellery sales it has also helped them increase their own sales of floral jewellery to people who had come asking for Nakshatra. fresh ideas and novel concepts also won multiple honours including the CK– New Delhi Gold Souk Design Award in 2006. It has impacted the jewellery trade in other ways. The Indian jewellery market has been transformed in much the same way by Nakshatra. January 2003). the brand has appropriated the physical values of the diamond – its quality. In 2007 the brand was given the Retail Jeweller Award for the Best TV Campaign of the Year. In 2003. The in-house design team at Nakshatra with its wide repertoire of innovative designs. 18 . too.NAKSHATRA A diamond is a symbol of power and beauty –a creation that captures the essence of nature’s magical process through millions of years.

Their fame for quality and being on the leading edge of fashion in 22 carat gold and diamonds from all over India have been built on dedication to their clients expectations.LOCAL DEALERS TALWAR JEWELLERS A name that evokes history. The TALWAR JEWELLERS have been providing with gold and diamond jewels for more than 5 decades. Their commitment and dedication towards their customers have made them one of the leading jewelers in northern region. quality and commitment. A name that evokes exquisite fires that gold and diamond inspire the heart. 19 . The Late Shri Tasrem Lal Talwar established a presence in Chandigarh from the year the city was founded in 1954. The showroom was first and the oldest.

Although they sell their own produced jewellery yet they have many consumers who prefer buying jewellery only from them. OTHERS There are many other local dealers for jewellery such as Champalal jewelers. over the years. Chawla jewelers etc. Mahaveer jewelers. New Delhi. gold and platinum jewellery to the lives of the jewellery connoisseur for over 50 years. Khanna jewelers India has been adding the magical sparkle of diamond.KHANNA JEWELLERS The Khanna Group of companies was founded in 1953 by Late Shri Wazir Chand Khanna and his three sons. diversified into several new areas. These dealers are preferred by consumers because of 20 . Their first showroom opened its doors to customers at Karol Bagh. who are earning a good name in jewellery market. Now the Khanna group of companies has.

preferences. trust is purely based on the gurantee. which easily segments itself amongthe Available only in traditional traditional ones Available in multiple outlets jewellery outlets. Has a more contemporary. advertising. good selling Minimum efforts sales in packaging. Excellent quality. 21 . considering the consumer. jewellery. and low policies andd backup services for finishing. SECTOR PROFILE BRANDED VS. emotional quotient of the consumer. It comes with a written lifetime No written lifetime guarantee. and classicoutlook.their good quality products and strong personal relations with consumers. stylish Is usually bulky and traditional. NON BRANDED JEWELLERY BRANDED JEWELLERY Name and reputation NON BRANDED JEWELLERY a Customers can tailor jewellery according to give make their confidence to the consumer.

Moreover respondents prefer to give direct answers. generates specific and to the point information. The secondary data was collected from the articles.RESEARCH METHODOLOGY Research is initiated by examining the secondary data to gain insight into the problem. COLLECTION OF DATA a) Secondary Data: It was collected from internal sources. newspapers. TYPE OF RESEARCH: Exploratory research DEVELOPING THE RESEARCH PLAN The data for this research project would be collected through questionnaire. A structured questionnaire would be framed as it is less time consuming. easier to tabulate and interpret. The primary data is evaluated on the basis of the analysis of the secondary data. 22 . journals and internet.

1) Sampling Units would comprise of men and women. SAMPLE SIZE 100 respondents DATA ANALYSIS Question 1 Do you wear jewellery? Yes 99 No 1 23 .b) Primary data: They were the main source of Primary data.questionnaires. 2) Research instruments. The method of collection of primary data would be direct personal interview through a structured questionnaire. SAMPLING PLAN Since it is not possible to study whole population. it is necessary to obtain representative samples from the population to understand its characteristics.

By studying the 100 questionnaire we have come to the conclusion that 99% of the total population wears jewellery whereas just 1% doesn’t wear the jewellery. Question 2 Once in a long time Once in a year Whenever any occasion comes up 24 .

Question 3 Local Dealers Brands (Tanishq. 25 .How frequently do you make jewellery purchases? 20 45 35 45% of the total population buys jewellery in a year and 35% of the population buys whenever any occasion comes up whereas remaining 20% buys in a long time.

etc..D’damas .) From where do you prefer purchasing jewellery? 45 55 From the analysis we came to know that 45% of the people prefer purchasing jewellery from local dealers and 55% of total poplution prefer buying brands. 26 .

Question 4 I can choose from a wide variety of designs The quality of the product is excellen t The stores are easily accessibl e as they have their outlets at many places 20 They provide good exchang e offers The jewellery is certified If brands. what are the factors responsible for this choice (one or more)? 32 47 16 35 27 .

From the above pie chart we have concluded that why the people purchase brand is the quality of the product and its certification. Question 5 I can buy the product s on credit The store is located near my house. what factors affect this decision (one or more)? 11 21 28 .P 23 The products are comparativ ely priced low The retailer is very reliable as I have been dealing with him since a long time 37 If local retailers. and so is easily approacha ble 16 The price are negotiabl e.R. I do not have to buy at the M.

29 .The reason why 45% of the total population goes to the local retailers is there relaibility and low prices.

30 .Question 6 Schemes Recommendati launched by the ons from stores Friends/ Relatives 24 62 Pamphlets distributed From where did you get the knowledge of this store/ brand? 21 Recommendation from friends and reletaives contribute much more in spreading the knowledge about the store/ brand rather then distributing pamphlets or launching schemes.

Question 7 I recently started visiting this store/ Brand 22 From past 5 to 10 years Since a very long time. 31 . almost always 39 How long have you been making your purchases of jewellery from this store/ brand? 39 Most of the population says 70% are buying jewellery from the same store/ brand from past 5 to 10 years or a long time respectively.

32 .Question 8 Very satisfied Satisfied Neither satisfied nor dissatisfie d 7 Dissatisfie d Very dissatisfi ed How satisfied are you with the jewellery you buy? 45 48 - - Almost everyone is satisfied with the jewellery they buy.

33 .Question 9 Extremel y importan t Very importan t 23 Somewh at importa nt 28 Not very Not at importa all nt importa nt 34 3 How important is 9 the advertisement campaign followed by the store to make you opt for it? 35% of the population is not affected by the advertisement campaign but on the contrary advertisement is somewhat important for the 29% of the population.

34 .Question 10 Very significant ly Significant ly Partially Neutral Not at all significa nt 1 Does the ambience and the services provided in the store affect your purchase? 14 39 24 20 The above pie chart represents that 40% of the population is significantly affected by the ambience and the services provided in the store.

do you compare the designs and prices of the same between the branded showroom and the local dealers? Always 12 Often 14 Sometim es 30 Rarely 28 Never 16 People generally don’t compare the prices between the branded showroom and the local dealers. 35 .Question 11 Before making any jewellery purchases.

Question 12 Do you plan to shift or change the source of purchasing jewellery? Yes 9 No 48 Maybe 43 From the about the data we have concluded that almost half of the population is satisfied with their retaliers and doesn’t want to change. 36 .

37 . Most of the population buys jewellery frequently and the reason why people people going for more of branded jewellery is the certification of the jewellery. It is not that people are ignoring local retailers large number of total population still demands local jewelers and the reason is the reliability of the retailers. People generally don’t compare the prices between the branded showroom and the local dealers.CONCLUSION We have concluded from the above study that the individuals are moving towards brands rather than local retailers. From the about the data we have concluded that almost half of the population is satisfied with their retaliers and doesn’t want to change.

38 . They should also provide wide range of the product they are offering so that they can capture larger share in the market. Branded retailers should focus on reducing the cost and try to develop the trust factor with the consumers so that it will help them to increase there sales.RECOMMENDATION From the above analysis we have come to the conclusion that the local retailers should adopt the certification for the jewellery they are offering to the consumers.

India consumes nearly 800 tonnes of gold accounting for about 20 per cent of the world gold consumption. The Indian jewellery market. Gold jewellery forms around 80 per cent of the Indian jewellery market.3 per cent of world jewellery sales.LITERARY REVIEW GEMS AND JEWELLERY The gems and jewellery industry is one of the fastest growing industries in India. The industry is well supported by Government policies and the banking sector -. with the balance comprising fabricated studded jewellery that includes diamonds as well as gemstone studded jewellery. The two major segments of the sector in India are gold jewellery and diamonds. The growth in the purchasing parity of the middle class and surging income levels have resulted in consumtion growth of gems and jewellery by about 11 percent in the five years preceeding 2006-2007. estimated to be US$ 13. according to a study by KPMG. it also contributes over 15 percent of India’s total exports and provides employment to 1.around50 banks provide nearly US$ 3 billion credit to the 39 .5 billion in fiscal 2006-07. of which nearly 600 tonnes goes into making jewellery. accounts for 8.3 million people directly and indirectly.

In terms of carat. In addition.1 billion in 2006-07 against US$ 16. showing a growth of 26 per cent. Exports After making its mark in the world diamond processing industry. Employing over 90 per cent of the global diamond industry workforce. While diamonds accounted for 64 percent of the total exports. gold jewellery well on its way jewellery to becoming the leading global gems and jewellery hub. India Advantage India is the world’s largest diamond processing (cutting and polishing) country with an estimated 1 million processors handling over 57 per cent of the world’s rough diamonds by value. India’s gems 40 . including stones larger than 10 carats. 11 out of 12 stones (diamonds) set in jewellery are cut and polished in India. India is and industry is now on a high growth trajectory.India is expected to have a diamond bourse soon. India also accounts for 90 per cent of the volume of diamonds processed in the world. India's share in this sector is about 80 per cent of the world market. Processing is done on rough diamonds in full range of sizes and qualities. Exports from the industry fetched US$ 17.Indian diamond industry.64 billionin 2005-06. According to industry estimates.

90 billion. cent have and been in the coloured gemstones.04 per cent respectively last year. in jewellery it was 21 per exports Kong together accounted for over 70 per cent of the total exports in the previous fiscal year. Belgium and Israel. Indian jewellery demand rose by 70 per cent during the first half of 2007 compared with the 41 . The growth momentum has continued into the current fiscal.44 per cent and 1. according to the Gems and Jewellery Export Promotion Council gold jewellery US$ exports fetched US$ 5. In fact. The major destinations for US. colored gem stones andothers accounted for 1.35 million in 2005-06. as compared to US$ 7. UAE. the US. UAE and Hong of the period jewellery current of export industry grew by a robust 27 per cent export during the first fiscal at US$ 9. Hong Kong. against US$ 232. The gems and half corresponding (GJEPC).accounted for 30. The growth in diamond exports was 28 per cent.48 million last fiscal. Coloured gemstone exports Consumption The increasing levels of disposable household income have resulted in record consumption levels in the domestic market.4 billion in the 2006. while yielded 246. it was 22 per cent.4 billion.47 per cent. Cut and polished diamond segment exports were US$ 10.21 billion last year.

India’s gold consumption this year could in fact cross the 1.same period last year. is on an expansion spree in India and hopes to achieve 5 to 10 per cent of its global turnover from the country in the next 10 years. from the current 13. gold consumption during the first six months of 2007 grew by 70 per total accounted bars accounted for the rest. •D’Damas India. Jewellery demand increased to 387 tonnes from 227 tonnes during the period. The booming domestic market along with export advantage of the industry and the Government's decision to allow foreign direct investment of up to 51 per cent in single brand retail stores has attracted a large number of players to the sector. is adding 16 new stores to its present dozen stores in India. • Swarovski. India’s consumption in 2006 was slightly over 700 tonnes.000-tonne mark for the first time. • Morgan Stanley. While jewellery 73 per cent of gold demand. Citigroup. investments in the forms of coins and 42 . part of one of the largest jewellery retail outlets in the world. According to the World Gold Council (WGC). The company plans to set up 30 stores by 2009. collectively for cent to 528 gold around tonnes compared to 307 tonnes in the same period last year. Also. the global crystal goods manufacturer and marketer. Goldman Sachs and BSMA Ltd.

• Gemology Headquarters International (GHI). a US-based gemological grading and research laboratory.purchased a 7 per cent stake in Gitanjali Gems for around US$ 27. Mumbai.8 million.28 per cent in Shrenuj & Co at around US$ 2.07 million and US$ 2 million. Diamond jewellery consumption in India is also estimated to jump cent in 2010. has opened its first Indian branch at Opera House. According to a KPMG study. • Goldman Sachs and UBS Securities have acquired 6. India’s growing importance in the global jewellery market is only expected to increase in the future with total estimated jewellery sales of US$ 21 billion by 2010 and US$ 37 billion by 2015. by 78 per 43 . • Reliance Retail is planning an aggressive entry into the jewellery retail market through its 400 to 500 jewellery retail outlets in the country. Looking Ahead The booming economy along with the rapid increase in income levels is estimated to further accelerate the growth of this industry. respectively.

BIBLIOGRAPHY The magazines and journals referred: Solitaire International Web sources: www.com 44 .google.valuenotes.com www.indiandata.com www.

Do you wear jewellery? □ Yes □ No 2.QUESTIONNAIRE Jewellery buying preference : Local retailers or Brands 1. How frequently do you make jewellery purchases? □ Once in a long time □ Once in a year 45 .

etc. □ The products are comparatively priced low . □ The store is located near my house. D’damas.R. what are the factors responsible for this choice (one or more)? □ I can choose from a wide variety of designs □ The quality of the products is excellent □ The stores are easily accessible as they have their outlets at many places.) 4.P. If local retailers. □ They provide good exchange offers. If brands. 5.□ Whenever any occasion comes up 3. what factors affect this decision (one or more)? □ I can buy the products on credit . □ The jewellery is certified. I do not have to buy at the M. and so is easily approachable. 46 . □ The prices are negotiable. From where do you prefer purchasing jewellery? □ Local Dealers □ Brands (Tanishq.

From where did you get the knowledge of this store/ brand? □ Schemes launched by the store.□ The retailer is very reliable as I have been dealing with him since a long time. How satisfied are you with the jewellery you buy? □ Very satisfied □ Satisfied □ neither satisfied nor dissatisfied □ Dissatisfied □ Very dissatisfied 9. How long have you been making your purchases of jewellery from this store/ brand? □ I recently started visiting this store / brand. almost always. 7. How important is the advertisement campaign followed by the store to make you opt for it? □ Extremely important □ Very important □ Somewhat important 47 . 6. □ From past 5 to 10 years □ Since a very long time. □ Recommendations from Friends / Relatives. □ Pamphlets distributed. 8.

Before making any jewellery purchases.□ Not very important □ Non at all important 10. do you compare the designs and prices of the same between the branded showrooms and the local dealers? □ Always □ Often □ Sometimes □ Rarely □ Never 12. Does the ambience and the services provided in the store affect your purchase? □ Very Significantly □ Significantly □ Partially □ Neutral □ Not At All Significant 11. □ Yes □ No Do you plan to shift or change the source of purchasing jewellery? 48 .

□ 3 49 .□ Maybe NAME: ________________________ ADDRESS: _____________________________________________ PROFESSION: __________________ FIGURES □ 4 FIGURES □ 5 FIGURES MONTHLY INCOME: .

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