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)
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
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
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.
.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. 4) To have an idea about the parameters the consumers consider while buying jewellery. 3) Brand awareness of various brands in the jewelery market. 2) To know consumer perception towards jewellery.
an in depth study and analysis will become a little difficult 2) Sample size .since the time span for the study was only one month.the sample taken and the conclusion drawn can be led to only one side if there is lack of awareness about branded jewellery. 4) Awareness . 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.DESCRIPTION PROBLEM
The scope of study is limited due to the following reasons: 1) Time constraint .the sample size of the study is only 100 which would not give a comprehensive result.
3) Does price play an important role in guiding their purchase decision. 4) Are the various promotional strategies adopted to
. 2) How much impact does a brand/ retailer has on their purchase decision.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. Hence the research conducted would help us to: 1) Understand the consumers preference while purchasing jewellery.
India has a historic relationship with Jewellery. emperors and dynasties featuring countless wars. Jewellery acted as a common medium of
. Different dynasties ruled different parts of India with different monetary systems. conquests and political upheavals have ruled the Indian sub-continent.
with an upsurge in gold sales after a good agricultural season. setting up of new business. As India makes rapid progress in the retail arena. Gold jewellery is the preferred jewellery worn by women irrespective of their religious beliefs. This has largely helped formulate. the wealth she takes with her when she remains hers. Jewellery marries in gift among farmers. Jewellery is valued as an important savings and investment vehicle in India. In marriages. the Indian Jewellery market is and of gold is an important part of every stage of an Indian citizen’s life— at birth. the Indian sentiment and fanatical passion for gold.000 tonnes of gold. death. land being the other main asset of economic value. Jewellery is very popular
. Gold also helped preserve wealth through natural calamities and disasters and for centuries was the only means of saving in rural India. India is estimated to hold more than 11. construction of home. or evolve. festivals. preferred remains and the which India by Indian bride’s `Streedhan’. gold jewellery is the the near relatives of the bride and the groom. Even in present times.exchange or store of value across the monetary systems of different kingdoms across the sub-continent especially gold. which holds true even today. Hence wealth could still be preserved in spite of wars and political turbulence. religious ceremonies. Buying marriage. Apart from its historical religious significance.
goods and services offered by to out The the of jewellery business in India is estimated to be at Rs 50. platinum and coloured gemstones. The way jewellery was worn before is undergoing a tremendous change.000 crore. the share of organised jewellery market is
. Today. follows standardised practices and uniform pricing strategy. 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. But given that this is a relatively new segment of the market. 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. Organised retail formats work on transparent policies that are not necessarily available at the traditional jewellery shops. All these reasons and more ensure that the modern Indian woman is looking for jewellery from a perspective different from the past. less than Rs 1. This accounts to about 2-3 per cent of the total market share. According McKinsey. organised retailing offers quality products. independent estimation studies conducted by World Gold Council and the overall market share. it is poised to grow. •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.000 crore.undergoing a gradual metamorphosis from unorganised to organised formats. In addition.
clearly defined by them. In Western and Northern India.any retailer are strongly driven by their identified Target Group . etc. In a short span of time. Jewellery designs vary in different regions of India. Gili and Trendsmith several regional players have opened branches to leverage the trust and reputation that they have built up over the years. There are several examples of retailers who are drawing in consumers either across a wide swathe or a segment of socio-economic classification. the Mughal influence can be seen in the meenakari (enamelling) and kundan work.paisley motif of the mango. branded players require focused advertising and astute salesmanship to compete with traditional jewelers. Carbon. Besides the major brandsTanishq. Jewellery is
. organised retailers have successfully implemented a change in the buying pattern of the Indian consumer. In addition. making the style unique to each region. The bulk of the Indian jewellery buying is still rooted in tradition and jewellery is sold in traditional designs. melon and cucumber seeds. This has been the first step towards organized jewellery retailing in India. Oyzterbay. It is believed that 90% of this demand is directed towards manufacturing of jewellery.
STRUCTURE OF JEWELLERY IN INDIA
•Plain gold Jewellery •Studded Jewellery •Silver Jewellery
India is the largest consumer of Gold in the world with annual demand close to 800 tons. rice grains. In South India the designs are inspired by nature .
The logic is that the jewellery is primarily bought as an investment in gold. and horses. ceremonial elephants. and so on. Hence the variety of gold jewellery in India is truly mind-boggling and bears testimony to the excellent skills of Indian jewellers of today.crafted not just for humans but also for the deities. Ornaments are made practically for every part of the body . Plain gold jewellery is fabricated mainly in 22-karat gold and even 18karat is not favoured. Consumers undertake complex buying behaviour when they are highly involved in a purchase and perceive significant differences among brands.
CONSUMER BUYING BEHAVIOUR WHILE BUYING JEWELLERY
While buying a product. ankles. bangles. which satisfies a consumer’s self esteem needs( according to the Maslow’s heirarchy of needs) a consumer displays complex buying behaviour. and investing in a low purity product does not appeal to the Indian consumers. More complex decisions usually involve more buying participants and more buyer deliberation.nose rings. While buying an expensive product for jewellery. However for the studded gold jewellery. necklaces and special jewellery for the head. as the mindset does not accept low purity gold jewellery. waistbands. 18 karat has become acceptable. consumer displays different kinds of behaviours towards different kinds of products from a tube of toothpaste to a new car.
Jewellery was fabricated mainly in 18.000 retailers. These measures led to the entry of foreign players like DeBeers. Marketers of high involvement products must understand the information gathering and evaluation behaviour pf high involvement consumer. 22 and 24-carat gold. GOLD JEWELLERY MARKET IN INDIA Before the liberalization of the Indian economy in 1991. first developing belief about the product. The abolition of the Gold Control Act in 1992. they need to hellp buyers learn about the product. purchased infrequently. In 1997. In the 1990s.Consumers may be highly involved when the product is expensive. 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. the number of retail jewellery outlets in India increased greatly due to the abolition of the Gold Control Act. single shop operations. The bulk of the jewellery purchased in India was designed in the traditional Indian style. overseas banks and bullion suppliers were also allowed to import gold into India. under-carat age was prevalent. According to a survey done by the Bureau of Indian
. risky. mostly familyowned. and highly self expressive. only the Minerals and Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold. As Hallmarking was not very common in India.000 workshops supplying over 350. This led to a highly fragmented and unorganized jewellery market with an estimated 100. 95% of which was used for jewellery. India had the highest demand for gold in the world. Tiffany and Cartiers into the Indian market. This buyer will pass through a learning process. then attitudes. gold and diamond mining were opened up for private investors and foreign investors were allowed to own half the equity in mining ventures.class attributes and their relative importance. In 1993. 855 tons were consumed a year. In 2001. and then making a thoughtful purchase choice.
a Mumbai-based jewellery exporter. Beautiful. Gitanjali Jewels also started selling 24-carat gold jewellery in association with a Thai company. Carbon and Tribhovandas Bhimji Zaveri (TBZ). sold 18carat gold jewellery under the brand name Gili. Pranda. The Mumbai-based group.
BRANDED DEALERS TANISHQ
.5 carats to 18 carats as 22-carat gold jewellery. Oyzterbay. Other players who entered the Indian branded gold jewellery market during the 1990s and 2000-01 included Intergold Gem Ltd. Over 80% of the jewelers sold gold jewellery ranging from 13.. Titan sold gold jewellery under the brand name Tanishq. Dagina. which marketed the Tiffany range of products in India. The late 1990s saw a number of branded jewellery players entering the Indian market. most gold jewellery advertised in India as 22-carat was of a lesser quality. launched its collection of diamond and 22 -carat gold jewellery in 1997. launched its own range of studded 18-carat jewellery.Raj (India) Ltd. Su. Cartiers entered India in 1997 in a franchise agreement with Ravissant.Standards (BIS). while Gitanjali Jewels.
In 1998. When Tanishq was launched. In the same year. When it was launched in 1995. Titan later ventured into the jewellery businesses. Initially involved in the watches and clocks business. Tanishq is considered to be a trendsetter. In 1995. Tanishq retailed its jewellery through 53 exclusive stores across 41 cities. The market of tanishq jewellery is growing since long time. Tanishq decided to set up its own chain of retail showrooms to create a distinctive brand image. 2. Tanishq had a 0. Questar Investments Limited (a Tata group company) and the Tamil Nadu Industrial Development Corporation Limited (TIDCO) jointly promoted Titan Watches Limited (Titan). With sales of Rs.66 percent share of the total jewellery market and a 27 percent share of the branded jewellery market. Tanishq began with 18-carat jewellery. the 18-carat jewellery range was expanded to include 22 and 24-carat ornaments as well.' in order to change its image from that of a watch manufacturer to that of a fashion accessories manufacturer. 400. To meet increasing demand. Tanishq planned to open 70 stores by the end of 2003 and offer a range of 'wearable' products with prices starting at Rs. it also started its jewellery division under the Tanishq brand. Among the branded jewellery players in the Indian market.In 1984. it sold most of its products through multibrand stores. Realizing that such jewellery did not sell well in the domestic market. By 2002.66 billion in 2000-01.' to 'Titan Industries Ltd.
. Titan changed its name from 'Titan Watches Ltd.
Figure 1 growth in sales from 2000 to 2008 in Million Rupees
500 and Rs. Gili soon realized that just pushing its product was not enough.000 through lifestyle and department stores across the country to increase accessibility among its target segment. Having captured the low price point market of Rs. necklaces and bangles made of 24carat gold. All Gili products came with a guarantee of diamond and gold quality Gili distributed its jewellery priced between Rs. pamphlets and a few advertisements targeted at teens. heart-shaped diamond jewellery was well received by teens.
. This range included rings. For this Gitanjali jewels opened a jewellery salon.2000 to Rs. 500 and Rs. 000. This collection consisting of tiny. catchy advertising and extensive press coverage contributed to the success of the collection. it launched a Diamond Heart Collection specially designed for Valentine's Day.000 through lifestyle and department stores across the country to increase accessibility among its target segment. Gili also made special promotional offers during festive seasons like Christmas and Diwali. it also had to customize its products for special occasions. the 15 to 30 age group. to provide customized jewellery to clients in India. earrings. Following this. The collection was promoted at college campuses with banners.10. 40. the company is focused on penetrating the premium market of customized jewellery. pendants. Special packaging.GILLI
Gili launched a collection of traditional Indian ornaments made of 18carat gold. the 15 to 30 age group. the Gili Gold range was introduced. Gili distributed its jewellery priced between Rs. In 1999. Gianti. 40.
A diamond is a symbol of power and beauty –a creation that captures the essence of nature’s magical process through millions of years. fresh ideas and novel concepts also won multiple honours including the CK– New Delhi Gold Souk Design Award in 2006. The Indian jewellery market has been transformed in much the same way by Nakshatra. In less than a decade after launch. In 2003. the brand has appropriated the physical values of the diamond – its quality. too. 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. 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. The in-house design team at Nakshatra with its wide repertoire of innovative designs. 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. January 2003). brilliance and clarity – and made a deep impact on the Indian psyche. It has impacted the jewellery trade in other ways. 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. the IIGJ Award in 2007 and the Tahitian Pearl Awards in 2005 and 2007. In 2007 the brand was given the Retail Jeweller Award for the Best TV Campaign of the Year.
A name that evokes exquisite fires that gold and diamond inspire the heart. Their commitment and dedication towards their customers have made them one of the leading jewelers in northern region. The showroom was first and the oldest. 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. The TALWAR JEWELLERS have been providing with gold and diamond jewels for more than 5 decades.LOCAL DEALERS TALWAR JEWELLERS
A name that evokes history. quality and commitment. The Late Shri Tasrem Lal Talwar established a presence in Chandigarh from the year the city was founded in 1954.
Khanna jewelers India has been adding the magical sparkle of diamond. These dealers are preferred by consumers because of
. over the years. diversified into several new areas. Although they sell their own produced jewellery yet they have many consumers who prefer buying jewellery only from them.
There are many other local dealers for jewellery such as Champalal jewelers. Mahaveer jewelers. New Delhi. Their first showroom opened its doors to customers at Karol Bagh. Now the Khanna group of companies has. who are earning a good name in jewellery market. gold and platinum jewellery to the lives of the jewellery connoisseur for over 50 years.KHANNA JEWELLERS
The Khanna Group of companies was founded in 1953 by Late Shri Wazir Chand Khanna and his three sons. Chawla jewelers etc.
policies andd backup services for finishing.
preferences.their good quality products and strong personal relations with consumers. It comes with a written lifetime No written lifetime guarantee.
. which easily segments itself amongthe Available only in traditional traditional ones Available in multiple outlets
jewellery outlets. trust is purely based on the gurantee. emotional quotient of the consumer.
jewellery. good selling Minimum efforts sales in packaging. and classicoutlook. stylish Is usually bulky and traditional. Excellent quality. NON BRANDED JEWELLERY BRANDED JEWELLERY Name and reputation NON BRANDED JEWELLERY a Customers can tailor jewellery according to
confidence to the consumer. Has a more contemporary.
BRANDED VS. considering the consumer. advertising.
journals and internet. newspapers.
. The secondary data was collected from the articles.RESEARCH METHODOLOGY
Research is initiated by examining the secondary data to gain insight into the problem. generates specific and to the point information. Moreover respondents prefer to give direct answers. The primary data is evaluated on the basis of the analysis of the secondary data.
COLLECTION OF DATA
a) Secondary Data: It was collected from internal sources. easier to tabulate and interpret. A structured questionnaire would be framed as it is less time consuming.
TYPE OF RESEARCH: Exploratory research DEVELOPING THE RESEARCH PLAN
The data for this research project would be collected through questionnaire.
The method of collection of primary data would be direct personal interview through a structured questionnaire. it is necessary to obtain representative samples from the population to understand its characteristics.
Since it is not possible to study whole population.
1) Sampling Units would comprise of men and women.questionnaires.
SAMPLE SIZE 100 respondents
Question 1 Do you wear jewellery? Yes 99 No 1
.b) Primary data: They were the main source of Primary data. 2) Research instruments.
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.
Once in a long time
Once in a year
Whenever any occasion comes up
.How frequently do you make jewellery purchases?
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.
From where do you prefer purchasing jewellery?
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. etc.
what are the factors responsible for this choice (one or more)?
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
what factors affect this decision (one or more)?
. I do not have to buy at the M.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.R. and so is easily approacha ble 16 The price are negotiabl e. Question 5 I can buy the product s on credit The store is located near my house.From the above pie chart we have concluded that why the people purchase brand is the quality of the product and its certification.
The reason why 45% of the total population goes to the local retailers is there relaibility and low prices.
Schemes Recommendati launched by the ons from stores Friends/ Relatives 24 62
From where did you get the knowledge of this store/ brand?
Recommendation from friends and reletaives contribute much more in spreading the knowledge about the store/ brand rather then distributing pamphlets or launching schemes.
I recently started visiting this store/ Brand 22
From past 5 to 10 years
Since a very long time.
. almost always 39
How long have you been making your purchases of jewellery from this store/ brand?
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.
Neither satisfied nor dissatisfie d 7
Very dissatisfi ed
How satisfied are you with the jewellery you buy?
Almost everyone is satisfied with the jewellery they buy.
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.
Very significant ly
Not at all significa nt 1
Does the ambience and the services provided in the store affect your purchase?
The above pie chart represents that 40% of the population is significantly affected by the ambience and the services provided in the store.
.Question 11 Before making any jewellery purchases. do you compare the designs and prices of the same between the branded showroom and the local dealers?
Sometim es 30
People generally don’t compare the prices between the branded showroom and the local dealers.
Question 12 Do you plan to shift or change the source of purchasing jewellery?
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.
We have concluded from the above study that the individuals are moving towards brands rather than local retailers.
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.
. 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. 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.
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. They should also provide wide range of the product they are offering so that they can capture larger share in the market.
3 million people directly and indirectly.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 -. The Indian jewellery market. of which nearly 600 tonnes goes into making jewellery. according to a study by KPMG. 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$ 13.5 billion in fiscal 2006-07. with the balance comprising fabricated studded jewellery that includes diamonds as well as gemstone studded jewellery. accounts for 8. India consumes nearly 800 tonnes of gold accounting for about 20 per cent of the world gold consumption. Gold jewellery forms around 80 per cent of the Indian jewellery market. The two major segments of the sector in India are gold jewellery and diamonds.3 per cent of world jewellery sales.around50 banks provide nearly US$ 3 billion credit to the
. it also contributes over 15 percent of India’s total exports and provides employment to 1.
Employing over 90 per cent of the global diamond industry workforce. India's share in this sector is about 80 per cent of the world market. India’s gems
.Indian diamond industry. showing a growth of 26 per cent.1 billion in 2006-07 against US$ 16. In addition. According to industry estimates. India is and industry is now on a high growth trajectory. 11 out of 12 stones (diamonds) set in jewellery are cut and polished in India. India also accounts for 90 per cent of the volume of diamonds processed in the world. including stones larger than 10 carats. In terms of carat. Processing is done on rough diamonds in full range of sizes and qualities. Exports from the industry fetched US$ 17.64 billionin 2005-06. 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. Exports After making its mark in the world diamond processing industry.India is expected to have a diamond bourse soon. While diamonds accounted for 64 percent of the total exports.
In fact.35 million in 2005-06. The growth in diamond exports was 28 per cent. while yielded 246. The gems and half corresponding (GJEPC).4 billion.
accounted for 1.21 billion last year.4 billion in the 2006. The growth momentum has continued into the current fiscal.accounted
30. it was 22 per cent. Belgium and Israel. against US$ 232. Indian jewellery demand rose by 70 per cent during the first half of 2007 compared with the
. Hong Kong. Coloured gemstone exports
Consumption The increasing levels of disposable household income have resulted in record consumption levels in the domestic market. in jewellery it was 21 per exports Kong together accounted for over 70 per cent of the total exports in the previous fiscal year.44 per cent and 1. Cut and polished diamond segment exports were US$ 10.47
cent. as compared to US$ 7. cent have and been in the coloured gemstones. according to the Gems and Jewellery Export Promotion Council gold jewellery US$ exports fetched US$ 5. UAE. The major destinations for US.90 billion.04 per cent respectively last year. 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. the US.48 million last fiscal.
India’s consumption in 2006 was slightly over 700 tonnes.same period last year. gold consumption during the first six months of 2007 grew by 70 per total accounted bars accounted for the rest. Citigroup. • Morgan Stanley. from the current 13. part of one of the largest jewellery retail outlets in the world. 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 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. is adding 16 new stores to its present dozen stores in India. Also. •D’Damas India.000-tonne mark for the first time. While jewellery 73 per cent of gold demand. • Swarovski. According to the World Gold Council (WGC). Goldman Sachs and BSMA Ltd. collectively for cent to 528 gold around tonnes compared to 307 tonnes in the same period last year. the global crystal goods manufacturer and marketer. investments in the forms of coins and
. The company plans to set up 30 stores by 2009. India’s gold consumption this year could in fact cross the 1. Jewellery demand increased to 387 tonnes from 227 tonnes during the period.
• Goldman Sachs and UBS Securities have acquired 6.07 million and US$ 2 million.28 per cent in Shrenuj & Co at around US$ 2. respectively. • Reliance Retail is planning an aggressive entry into the jewellery retail market through its 400 to 500 jewellery retail outlets in the country. Mumbai. • Gemology Headquarters International (GHI). a US-based gemological grading and research laboratory. by 78 per
.8 million. According to a KPMG study. has opened its first Indian branch at Opera House. 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. Looking Ahead The booming economy along with the rapid increase in income levels is estimated to
further accelerate the growth of this industry. Diamond jewellery consumption in India is also estimated to jump cent in 2010.purchased a 7 per cent stake in Gitanjali Gems for around US$ 27.
The magazines and journals referred: Solitaire International
Web sources: www.com www.
Jewellery buying preference : Local retailers or Brands
1. Do you wear jewellery? □ Yes □ No 2. How frequently do you make jewellery purchases? □ Once in a long time
□ Once in a year
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. □ The jewellery is certified.) 4.P. □ The prices are negotiable.□ Whenever any occasion comes up 3. I do not have to buy at the M. □ The products are comparatively priced low . and so is easily approachable. D’damas. From where do you prefer purchasing jewellery? □ Local Dealers □ Brands (Tanishq.
. what factors affect this decision (one or more)? □ I can buy the products on credit . If local retailers.
5. etc. □ They provide good exchange offers. □ The store is located near my house. If brands.
8. How long have you been making your purchases of jewellery from this store/ brand? □ I recently started visiting this store / brand.
6. How important is the advertisement campaign followed by the
store to make you opt for it? □ Extremely important □ Very important □ Somewhat important
. From where did you get the knowledge of this store/ brand?
□ Schemes launched by the store. 7.□ The retailer is very reliable as I have been dealing with him since a long time. almost always. □ Pamphlets distributed. □ Recommendations from Friends / Relatives. How satisfied are you with the jewellery you buy? □ Very satisfied □ Satisfied □ neither satisfied nor dissatisfied □ Dissatisfied □ Very dissatisfied
□ From past 5 to 10 years □ Since a very long time.
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
.□ 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. Before making any jewellery purchases.
_____________________________________________ PROFESSION: __________________ FIGURES □ 4 FIGURES □ 5 FIGURES MONTHLY INCOME: .□ 3