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Survey on jewellery in Belgaum RESEARCH REPORT ON “Branded and unbranded jewellery store in Belgaum” Submitted to Prof. Vibha Hegde K.L.E Society’s College of Business Administration, Lingaraj College, (CBALC), Belgaum AUTOMONOUS Re-accredited with ‘A’ level by NAAC K.L.E society’s College of Business Administration Lingaraj College Page 1
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Page 1: Survey on Branded and Unbranded Jewellery Stores in Belgaum (1)

Survey on jewellery in Belgaum

RESEARCH REPORT

ON

“Branded and unbranded jewellery store in Belgaum”

Submitted to

Prof. Vibha Hegde

K.L.E Society’s

College of Business Administration,

Lingaraj College, (CBALC), Belgaum

AUTOMONOUS

Re-accredited with ‘A’ level by NAAC

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Declaration

I Palash Rathod the student of BBA III Semester 2012, at Collage of Business

Administration Lingaraj College (CBALC) Belgaum. I hereby declare that this project report

on research Study on “the branded and unbranded jewellery store in Belgaum” is an

independent study carried out by me during the first internship study under the guidance of

Prof. Vibha Hegde Madam

This project was fully prepared by my own effort and has not been published elsewhere until

now. I also declare that this project report has not been submitted to any other university or

for award of any degree or diploma.

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ACKNOWLEDGEMENT

I would like to thank Principal Prof P.R.Kadakol and my Internal Guide Prof. Vibha Hegde

and other staff of College of Business Administration Lingaraj College, Belgaum for their

valuable suggestions and guidance to do my project.

Finally I would like to thank my parents & all my friends who stood beside me for

support and guidance to make this project a success and bring out valuable findings and

conclusions.

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Table of content

SL.noTopics

Pg. no

1Jewellery Industry in India

3- 14

About Jewellery

Introduction to Indian jewellery market

Key Industry components

Industry Structure

Export

Government initiatives and FDI

Major players in Indian jewellery industry

Organised or branded jewellery market in India

Unorganised or Traditional market in India

Market analyses

Challenges and strategies

2Back ground of the research

15- 17

About jewellery industry in Belgaum

Research problems and research objectives

Research design

3Interpretation

18-37

4Suggestion

38

5Conclusion

38

6 Bibliography39

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About Jewellery

Jewellery or jewelry is a form of personal adornment, such as rings, necklaces, earrings and

bracelets. Jewellery may be made from a wide range of materials, but gemstones, precious

metals, beads and shells have been widely used. Depending on the culture and times

jewellery may be appreciated as a status symbol, for its material properties, its patterns, or for

meaningful symbols. Jewellery has been made to adorn nearly every body part, from hairpins

to toe rings

Introduction

The Indian jewellery market is dominated by gold, which consists of almost 80 per cent of

the market share, followed by fabricated studded jewellery including diamond and gemstone

studded jewellery.

India is one of the premier locations for diamond manufacturing. The prospect of being able

to open a truly world class diamond mine in India in the next few years and take India into

the top 10 diamond producing regions in the world is a strong possibility, as per Stefanie

Loader, Bunder Project Director, Rio Tinto. Further, India has also emerged as the largest

cutting and polishing industry for diamond in the world.

Advantage

Gems and Jewellery hub

Rich tradition / heritage of craftsmanship with high level of skills

Low production costs

Effective worldwide distribution network for promotion and marketing.

Diamond polishing capital of the world.

Manufacturing excellence

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Key Industry Components

Gold:

Gold has always been the jewellers' favourite metal given its intrinsic lustre and ease of

fabrication Gold jewellery enjoys the leading position in most markets across the world, and

in many ways forms the backbone of the precious jewellery industry. Given the fact that gold

is also one of the traded metals, gold jewellery consumption is also impacted by gold price

movements.

Diamonds:

Diamonds have always enjoyed a special place among precious gemstones. In the past,

diamond jewellery was limited to a very small elite segment of the global population.

However, over the past 50 years, diamonds have seen increasing democratisation. Diamond

jewellery has, therefore, emerged as a segment showing significant growth in some of the

emerging markets.

Coloured Gemstones:

This segment includes all other forms of jewellery; precious gemstones (emeralds, sapphires,

rubies and tanzanite) and semi-precious gemstones; silver, pearls, etc. The industry is highly

fragmented, thus generates business opportunity for the organised retailers and dealers to

flourish.

The exports of coloured stone/ gems from India have grown by 15 per cent to Rs 16.53

billion (US$ 298.40 million) this year from Rs 14.32 billion (US$ 258.58 million) last year.

Coloured gemstone processors of Jaipur, one of the world's major hubs for colour stone

processing, have come together to form a company. About 50 colour stone makers have

initiated procedures to form a company called Color Stone Gems India (CIL) with an equity

capital of Rs 1 billion (US$ 18.05 million).

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Industry Structure

The gems and jewellery industry in 2011-12 has gone up by about 5 per cent at Rs 2,000

billion (US$ 36.10 billion) against Rs 1,950 billion (US$ 35.20 billion) in 2010-11.

The sector accounted for India's 14 per cent of the total merchandise exports. On the contrary,

the imports of raw materials for making gems and jewellery stood at 32 per cent at Rs 721.60

billion (US$ 35.20 billion) in 2011-12 over Rs 545.64 billion (US$ 9.84 billion) in 2010-11.

The jewellery industry in India is estimated at Rs 1,500 billion (US$ 27.07 billion), of which

only 5 per cent is organised, thus creating opportunity for the foreign players to enter the

Indian market. Consumes nearly 800 tonnes of gold that accounts for 20percent of world gold

consumption, of which nearly 600tonnes go into making jewellery

Exports

The total exports of gems and jewellery during April 2011 to March 2012 stood at US$ 42.84

billion, including that of cut and polished diamonds at US$ 23.33 billion, gold at US$ 16.52

billion and coloured gemstones at US$ 342.80 million

Composition of Exports

Cut and polished diamonds:

The export of cut and polished diamonds grew manifold in 2010-11 as compared to

2009-10. In 2010-11, the export of cut and polished diamonds was US$ 28251.92

million as compared US$ 18237.56 million, recording a growth of 54.91 per cent.

Coloured Gemstones:

Export of coloured gemstones was registered at US$ 314.54 million in 2010-11 as

compared to US$ 286.78 million in 2009-10, showing a growth of 9.68 per cent.

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Gold Jewellery:

Export of Gold jewellery also grew in 2010-11, registering US$ 12885.59 million as

compared to US$ 9669.10 million in 2009-10. A growth of 33.27 per cent was

recorded

Government Initiatives

India is emerging as a huge consumer market for jewellery and other luxury products and

thereby appears as a very attractive opportunity for major brands to establish their presence in

the Indian market. The booming domestic market along with export advantage of the industry

and the Government's decision to allow foreign direct investment (FDI) of up to 51 per cent

in single brand retail stores has attracted various foreign players to the Indian market.

Foreign Direct Investment Policy

At present, the Indian government allows 100 per cent FDI in gems and jewellery

through the automatic route

For exploration and mining of diamonds and precious stones FDI is allowed up to 74

per cent under the automatic route

For exploration and mining of gold and silver and minerals other than diamonds and

precious stones, metallurgy and processing, FDI is allowed up to 100 per cent under

the automatic route

Major Exporters in India

S. ZAVERI & SONS JEWELLERS

RIBY GEMS AND FASHION JEWELRY 

MARUTI JEWELLERS

MILLENIUM STAR

SILVER STONE

BN GHOSH & CO.

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Major Export Destinations

USA

Singapore

China

Hongkong

UK

Major Players in Indian Gems and Jewellery

Gitanjali Group

Shrenuj & Company

Suraj Diamonds and Jewellery Limited

Titan Industries (Tanishq into Retail), Bangalore

C. Mehendra Exports

J.B Brothers

Tara - Ultimo

Vaibhav Gems, Jaipur

Reliance Jewel

Navaras

Branded Jewellery market in India

In the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions of

jewellery. The focus seemed to have shifted from content to design. Trendy, affordable and

lightweight jewellery soon gained familiarity. Branded jewellery also gained acceptance

forcing traditional jewellers to go in for branding.

Given the opportunities the branded jewellery market offered; the number of gold retailers in

the country increased sharply. Branded players such as Tanishq, Oyzterbay, Gili and Carbon

opened outlets in various parts of the country. Traditional jewellers also began to bring out

lightweight jewellery, and some of them even launched their in-house brands.

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However, the share of branded jewellery in the total jewellery market was still small (about

Rs. 10 billion of the Rs. 400 billion per annum jewellery market in 2002), though growing at

a pace of 20 to 30 percent annually.

The branded jewellery segment occupied only a small share of the total jewellery market

because of the mindset of the average Indian buyer who still regarded jewellery as an

investment. Moreover, consumers trusted only their family jewellers when buying jewellery.

Consequently, the branded jewellery players tried to change the mindset of the people and

woo customers with attractive designs at affordable prices.

Unorganised or Traditional market

The Indian gems and jewellery sector is largely unorganised at present. There are over 1500

players across the country in the gold processing industry, of which only about 80 players

have a turnover of over US$ 4.15 million (Rs 200 million). There are about 450,000

goldsmiths spread throughout the country. India was one of the first countries to start making

fine jewellery from minerals and metals and even today, most of the jewellery made in India

is handmade. The industry is dominated by family jewellers, who constitute nearly 96 percent

of the market. Organised players such as Tata with its Tanishq brand, have, however, been

growing steadily carving a 4 per cent market share.

As India’s jewellery market matures, it is expected to get more organised and the share of

family jewellers is expected to decline. There are more than 6000 players in domestic

diamond processing industry. The average gestation period for setting up a diamond cutting

and polishing unit is 15 months. The low gestation period, coupled with low capital cost

allows easy entry into the sector. This has led to the industry being largely characterised by a

large number of small scale players. However, just as in the case of jewellery, the share of the

organised sector has increased significantly in recent years due to an increase in demand for

better and finer quality finished goods.

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Presence of traditional pockets of jewellery manufacture

Jewellery crafting by traditional goldsmiths is confined to a few regions in India. These

pockets are widely separated and involve craftsmen whose skills have been handed down

over generations.

Surat is an important diamond processing centre, which exports around 80 per cent of the

production and has more than 3,500 diamond processing units.

Jaipur is a key centre for polishing precious and semi-precious gemstones.

Delhi and its neighbouring states are famous for manufacturing silver jewellery and articles.

Calcutta is popular for its lightweight plain gold jewelry. This category of jewellery finds a

large market in Tamil Nadu.

Hyderabad is the centre for precious and semi-precious studded jewellery.

Nellore is a source for handmade jewellery that has been supplying the Chennai market for

quite a few decades.

Belgaum in Karnataka and Nellore together, specialise in studded jewellery using synthetic

or imitation stones.

Coimbatore in Tamil Nadu specialises in casting jewellery.

Trichur in Kerala is another source for lightweight gold jewellery and diamond cutting.

Mumbai is the centre for machine made jewellery. The city is also India’s largest wholesale

market in terms of volume.

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MARKET ANALYSIS

The analysis shows that USA, EU, Japan and Hong Kong are the leading importers of major

gems and jewellery products. These countries have been sourcing their jewellery import

requirements mainly from countries such as Hong Kong, China, Italy, USA, Germany and

UK, of which USA, UK and Germany are. Importers as well as exporters . Hong Kong

appears to be more of a trading hub in the Asian continent.

India served as one of the major source countries for diamonds, as also for articles of

jewellery for select countries. In the case of diamonds, India is one of the major importers of

rough diamonds, and one of the major exporters of cut polished diamonds. India’s exports of

cut and polished diamonds have been to all major markets in the world. India is also a major

exporter of articles of jewellery and parts, and the exports have been to all the major

importers in the world. However, some of the markets are not well-explored by Indian gems

and jewellery exporters. For example, India may endeavour to concentrate on markets like:

UK and Switzerland for articles of jewellery of gold and platinum group of minerals USA,

Germany, UK and Switzerland for articles of jewellery made of silver USA, Japan,

Switzerland and UAE for articles of natural and cultured pearls Switzerland, UK and Japan

for articles of semi-precious stones and USA, Germany, France, UK and Italy for articles of

imitation jewellery

India may leverage its traditional craft-skills, low-cost labour, and fabrication techniques in

some of the jewellery products (such as processing of small-sized diamonds), and replicate

such advantages in the production of other products, and thereby become a global player

across the gems and jewellery segments

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CHALLENGES AND STRATEGIES

Challenges

Unorganised Sector

Being an unorganized sector hampers the ability of Indian gems and jewellery Industry to

emerge as a world-class supplier. According to a FICCI study, the gold processing industry

has around 15,000 players, with only around 80 units having revenues over US $ 5 million.

India is also home to around 4,50000 goldsmiths, over 100,000 gold jewellers, along with

about 6,000 diamond-processing players and 8,000 diamond jewellers.

Impact of Recession

There had been a loss of market for gems and jewellery exports due to recession and global

economic slowdown. During 2007-08, there was growth in export of gems and jewellery by

23%, over the previous year. The growth trend continued even in 2008-09 during which the

exports showed a growth of 44% over the previous year. However, during the period April-

September 2009-10, due to economic slowdown, the demand for gems and jewellery shrank,

which resulted in export slowdown for India. Following the economic slowdown, asset price

devaluations, job losses and decrease in disposable income have happened, along with

escalation in gold prices, which have changed the consumption pattern of gems and

jewellery.

Rise in Prices

As mentioned earlier, the prices of precious metals, especially gold and silver, has been

witnessing steep increase, since the last few years, which has been changing the buying

pattern of consumers. During the period December 2008 -December 2009, the price of gold

per ten grams, has increased from Rs 13,445 to Rs 16,870, showing an increase of 26%. Even

though the price of silver had witnessed a decline after February 2009, it again started rising

after April 2009. From Rs 17,847 per kg in December 2008, the silver price increased to Rs

27,430 per kg in December 2009.

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Possible Threats from China and from Other Countries Producing

Diamonds

Although India currently enjoys dominance in the world’s cut and polished diamond market,

China may emerge as a rival in the long term, mainly because of the availability of cheap

labour, growing domestic demand, and also the improvement in the quality of workmanship

in the country. It may be added that increasing number of diamond processors are setting up

their facilities in China due to these reasons. Also, there has been growing pressure in major

diamond producing countries in Africa, like Botswana, Namibia and South Africa, to gain

further economic benefits from diamond value chain, seeking investments in cutting and

polishing industry. Such developments may affect the prospects of India.

Low Level of Technology Absorption

Utilization of hi-tech, speedy and efficient machinery and software has led to the gradual

replacement of traditional / manual methods of polishing, manufacturing and designing of

gems and jewellery. Proactive players in the Indian gems and jewellery industry are always

on the lookout for better technology for their units. However, such technology absorption is

relatively low in Indian gems and jewellery industry, due to the small size, and unorganized

nature of majority of the players in this industry.

Strategies

Branding of Jewellery

Branding of jewellery plays a very important role in the jewellery market as it assures

consumers that the products are of certain quality, durability and conform to several social,

environmental and durability standards. Brand promotion is therefore one of the best modes

of market penetration. India’s gems and jewellery industry is highly unorganized and

fragmented, and till the early 1990s, the average Indian had bought unbranded jewellery from

local jewellers.

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At that time, confidence in the local jeweller was the hallmark of the gold jewellery trade in

India. This used to be a major challenge in the way of development of branded jewellery in

India. However, since the late 1990s, there has been a shift in consumer preferences: women

are increasingly opting for fashionable and lightweight jewellery instead of traditional bulky

jewellery. There has been change in consumer trend with the buyers regarding jewellery as an

accessory and not as an investment.

Consumers have also started realizing the value of brands, since it gave them the surety of

quality and durability.

Hallmarking of Jewellery

As the jewellery making and marketing is largely at the hands of unorganized sector, often,

Indian consumers are faced with issues related to quality and low cartage. In case of

traditional handcrafted jewellery often the joints are soldered with the use of solder alloys of

a much lower cartage. To counter this challenge, many countries are promoting Hallmarking

Scheme to protect the consumers against the adulteration, and guarantee the purity or fineness

of gold jewellery. Hallmarking is the accurate determination and official recording of the

proportionate content of precious metal in jewellery

Technology Up gradation

Players in this industry need to adopt latest technology, including the ICT interface in all

aspects, starting from mining, cutting and polishing, to fabrication and marketing.

Technological solutions are available for several of the challenges faced by the gems and

jewellery industry; these solutions include: innovations in designs (through CAD/CAM

machinery), quality and finish of products (through infrared, photo-typing, etching, wax-

casting), cost control in process and reduction of wastage (laser cutting, hollow-tube

processing). Imparting of technological solutions may reduce cost and time, which may not

be feasible under conventional methods. Technology also helps the fabricators to churn-out

the new design products in a much speedy way.

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Increase in Exploration Activities

India is a vast country with a landmass of 3.28 million sq.kms; of which about

2.42 million Sq.kms consists of hard rock. Out of the total hard rock area, around 7,00,000

sq.kms have been identified as having geological association, with the surface showing

possible mineral occurrences. As per United Nations Framework Classification, total

resources (reserves and remaining resources) of gold ore (primary) in India as on April 1,

2005, were estimated at 390.28 million tonnes, of which only 19.25 million tonnes are placed

under reserve category, and the rest 371.03 million tonnes, under resources category. Besides,

it has been estimated that the total resources of gold of placer type in the country would be

around 26 million tonnes. However, resource augmentation and gold production have not

been significant in India. This may require increase in exploration activities with

improvements in technology and know-how. According to a report by the Planning

Commission, Government of India, the mining sector also requires improved method of

narrow-vein-mining for achieving full economic benefits. Introduction of small scale mining

culture in the gold industry is also another requirement with adoption of modern gold

extraction technology.

Enhancing Visibility through Continuous Participation in

International Exhibitions

Continuous participation in international trade shows and jewellery exhibitions is very

important for the Indian gems and jewellery industry as such strategy would help in

projecting the industry as a player in entire value chain, from cutting, polishing, fabricating of

wide variety of plain and stones studded jewellery. Participation in international exhibitions

would also help establish new business links for the Indian gems and jewellery industry, and

would also pave the way for the industry to develop further business links to enhance the

level of their innovations in designs and technology.

This platform would also help in attracting and mobilizing the major buyers of gems and

jewellery, internationally, and also provide exhibitors with learning opportunities and

exposure to new markets and trends.

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Background

Title of the study

A comparative study on the consumer preference towards branded jewellery over un-branded

jewellery in Belgaum

Background of the research

About Jewellery industry in Belgaum

The Belgaum city has about 2000 Jewellery shops including organised, unorganised,

wholesalers and retailers and some of them work in their house

There are about 1200 Jewellery shops including organised and unorganised and 800 people

work in their own house their own house.

There are five different jewellery brands that are available in Belgaum city they are

Kalyan Jewellers

Tata Gold Plus

Asmi

Navaras

Gold Palace

Unorganised Retailers and Wholesalers in Belgaum

Retailers

The retailers purchase the ornaments and metals from the wholesalers and sell them to

customer depending upon customer selection. The retailers are not involved in

manufacturing process they just buy the ready ornaments from the wholesalers and sell it

to the customer and case of some ornaments like ring, necklace and all they place a order

to small workers who are skilled in their profession and work at their house itself

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Wholesalers

Wholesalers buy products in bulk and sell them to retailers as per the orders placed by

retailers. There are many wholesalers and all will be dealing or selling one specific

ornaments and they will be bringing the ornaments as per the orders placed by retailers.

Small household retailers

These are the very small retailers who are skilled in specific ornaments and manufacture

only those ornaments. They take the gold from retailers and manufacture the ornaments

that retailer have ordered and give them back the left over gold and takes his money i.e.

making charges

Branded jewellery in Belgaum

In Belgaum there are 5 organised jewellery stores. Usually high income people purchase

the jewellery in branded stores because branded store charge high making charge and

they also they don’t give credit to their customer. Branded jewellers doesn’t buy the

jewellery from wholesalers they have their own depo at the from where all the products

are manufactured and delivered as per the orders

Research problem

To determine the perception of consumer about branded jewellery as compared to unbranded

jewellery in Belgaum city

Research objectives

To understand the reach and awareness about the branded jewellery in Belgaum city.

To determine the consumer perception about branded jewellery as compared to un-

branded

To understand the consumer buying pattern of branded and un-branded jewellery.

To understand the consumer understanding of branded jewellery based on various

parameters Quality, Price, Service

To find out the reasons for consumer purchasing jewellery.

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Approach to the problem

Research design

The research design that I have adopted is descriptive and the method through which I am

going to administer the questionnaire is personal interview and nature of questionnaire will

be open ended, close ended and sampling plan will be and sampling size is 200. Data

collection method is primary data and about industry it is secondary data here I have taken

the information from the internet

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Analysis

I have included 17 questions in my survey and the entire respondent answered to the

questions and my interpretation on all the questions are

1) No of people wearing jewellery

A) Yes -100

B) No-0

Interpretation

Out of 100 samples all the 100 respondent wear jewellery.

The entire respondent wears jewellery some wear regularly while others wear only during

some occasions or festivals

2) Occasions when the jewellery are wore most?

A) Festival -29

B) Function-39

C) Marriage -19

D) Parties -13

E) Regularly-16

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Festivel Function Marriage parties RegularlyA) B) C) D) E)

29

39

19

1316

Occasions when people wear jewellery

Series1

Interpretation

Out of 100 samples

29% of people said they wear jewellery on festivals

39% of people said they wear jewellery on some family functions

19% of people said they wear jewellery on marriages

13 of people wear it on parties and remaining 12% of people wear it regularly

Out of 100 samples 39 said that they wear on some function so now a days the people wear

jewellery more only during some special occasions that may family function or festivals other

than wearing it regularly

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3) Metal preferred most

A) Gold - 91

B) Platinum - 15

C) Silver - 31

Interpretation

Out of 100 samples

91% of people said that they wear gold

15% of people said they wear platinum and 31% of people wear silver

Demand of gold has been increased and now a day’s people are purchasing gold more because

gold is consider to be best metal for investment than silver and platinum. Platinum is costly so

use of platinum is vey less and people prefer buying sliver instead of platinum

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Gold Platinum SilverA) B) C

91

15

31

Metal that is prafered most

Series1

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4) Jewellery purchased in a average

A) Once in a month - 12

B) Once in every six months - 13

C) Once in a year - 28

D) Only on a special occasions -50

Onc

e in

a m

onth

Onc

e in

eve

ry si

x m

onth

s

once

in a

yea

r

On

a sp

ecia

l occ

asio

ns

A) B) C) D)

12 1328

50

Jewellery purchased (on average)

Series1

Interpretation

Out of 100 samples

12% of people purchase jewellery once in a month

13% of people purchase it once in six months

28% of people purchase it once in a year and

50% of people purchase it on special occasions

Many people purchase jewellery on a special occasions and once in a year but there are very

few people who purchase it once in a six months and on monthly basis. Those who purchase

jewellery once in a year or only on a special occasions are the people who wear jewellery

rarely during some occasions may be buying it for investment and those who purchase the

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jewellery twice in a year or on monthly basis may be wearing

it for fashion or regularly.

5) Purpose of buying jewellery

A) Investment - 44

B) Occasions and festivals -59

C) Fashion - 23

D) Gifting - 13

Investment Festivals Fashion GiftingA) B) C) D)

44

59

2313

Purpose of buying jewellery

Series1

Interpretation

Out of 100 samples

44% of people buy jewellery for investment

59% of people buy jewellery for festivals

23% of people buy jewellery for fashion and

13% of people buy jewellery for gifting

Jewellery is not only purchased for the sake of wearing but people purchase jewellery for many

different reasons.

From above data we can say that many people purchase for jewellery for wearing in festivals

or for some special occasions than for investment and sake of gifting it is purchased less

Usually people gift jewellery to others only during wedding times.

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6) Few things that are valued most while buying jewellery

A) Craftsmanship - 31

B) Cost - 28

C) Uniqueness - 60

Interpretation

Out of 100 samples

31% of people value the craftsmanship

28% of people value cost and

60% of people value the uniqueness

Before purchasing jewellery there are something that people like or value most like some of

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Craftmanship Cost UniquenessA) B) C)

31 28

60

Value

Series1

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them wants their jewellery to be unique or different from

others while others are more conscious about price and few like the craftsmanship

or the way the jewellery is made its design and all. On my survey what I have found is many

people want their jewellery to be unique or totally different from others and the people from

20-25 wants their jewellery to be unique and 30+ are more concerned with design or

craftsmanship and price

7) Where do you prefer buying jewellery?

A) Branded - 67

B) Un-branded / Family Jeweller - 52

Branded UnbrandedA) B)

67

52

peopel prefer buying jewellery

Series1

Interpretation

Out of 100 samples

67% of people buy jewellery from branded showrooms and

51% of people buy jewellery from local\family jewellers

Now a days there are many branded stores that have come up in jewellery industries which

are providing wide range of products, latest designs and very good service and 5 such stores

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are available in Belgaum city so many people shifting from

their family jewellers to branded.

8) What attracts towards family jewellers?

A) Convenience -17

B) Trust worthiness -53

C) Price -21

D) Durability -38

E) Design -52

F) Variety of products -25

Conv

enie

nce

Trus

t wor

thin

ess

Price

Dura

bilit

y

Desig

n

Varie

ty o

f pro

duct

s

A) B) C) D) E) F)

17

53

21

38

52

25

Attaction towards family jeweller

Series1

Interpretation

Out of 100 samples

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17% of people go near family jeweller because of

convenience

53% of people go near family jeweller because of trust

21% of people go near family jeweller because of price

38 % of people go near family jeweller for durability

52% of people go near family design

25% of people go near family jeweller for variety of products

One thing about un-branded\family jewellery that attracts consumer towards them is

the trust as family jeweller may be our friend or relative so they buy it with them.

Based on my survey what I have found is 53 respondent purchases the jewellery near

their family jeweller because of trust and 52 designs. Design is another pattern that

attracts consumer towards them. Family jeweller will be having old design which may

be not available in branded showrooms. After purchasing the ornaments what

consumer wants is their ornaments at least has to survive for minimum 5 years

without any damage. So even durability is attracts consumer towards them. Other than

trust, design and durability consumer also wants variety of products. Near local\

family jeweller we will get both old and new design products and so variety of

products available near them is more. Price and convenience does not attract more

because people are ready to pay whatever may be the price for the ornaments.

9) Awareness of various jewellery brands available in the Belgaum city

A) Yes - 100

B) No -0

Interpretation

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Out of 100 samples all the 100 people are aware about the

branded jeweller in Belgaum city

The entire respondents are aware about the branded jewellery that is available in the market.

They are not aware of all the brands but at least few they are aware of.

10) Tick against the brand that you are aware about in the market

A) Kalyan jewellers -100

B) Tata gold plus -66

C) Navaras -29

D) Asmi -47

E) Gold palace -52

Interpretation

Out of 100 samples

100% of people are aware of Kalyan jeweller

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Tata gold plus Navaras Asmi Gold PalaceA) B) C) D)

66

29

4752

Awerness of brands

Series1

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66% of people are aware of Tata gold plus

29% of people are aware of Navras

47% of people are aware of Asmi

52% of people are aware of Gold Palace

Making aware about presence of our brand in the city is very important and there are total 5

branded jewellery stores in Belgaum city. Out of these stores Kalyan jeweller is one which is

known to all respondent this is because of their massive advertising, the reach of Tata gold

plus and gold palace is also high but people are not very much aware of Asmi and Navras this

may because they won’t advertise more

11) Which parameter of a branded jeweller attracts you towards them?

A) Variety of products -45

B) Shopping experience -29

C) Trendy and fashionable jewellery -26

D) Trust worthiness -36

E) Durability -32

F) Price -24

G) Offers and Schemes -30

Vari

ety

of P

rodu

cts

Shop

ping

exe

rien

ce

Tren

dy a

nd fa

shoi

nabl

e je

wel

lery

Trus

t wor

thin

ess

Dur

abili

ty

Pric

e

Off

ers

and

Sche

mes

A) B) C) D) E) F) G)

45

29 2636 32

2430

Attraction towards branded jewellery

Series1

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Interpretation

Out of 100 samples

45% of people go near branded because of variety of products

29% of people go near branded because of shopping experience

26% of people go near branded because of trendy and fashionable jewellery

36% of people go near branded because of trust

32% of people go near branded because of durability

24 % of people go near branded because of price

30% of people go near branded because of offers and schemes

Unlike unbranded even branded stores have wide range products, latest fashion and

variety design that attracts consumer towards them. Many people also purchase

jewellery near branded jeweller only because the name of the brand or trust that the

brand has created. Based on my survey out of 100 respondent 45 thinks that the

branded jeweller attracts consumer towards them because of wide range of products.

Other than the products even trust attracts consumer towards branded jeweller.

Branded jeweller also has some special offers and schemes because of that also

consumer prefer buying near branded jeweller. In branded jeweller we may get a

unique kind of shopping with all those trendy and fashionable products with

affordable price so even this can attracts consumer towards them

12) Before purchasing jewellery do you compare the price between branded and

unbranded?

A) Always - 20

B) Often - 8

C) Sometimes -32

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D) Rarely -21

E) Never -19

Interpretation

Out of 100 samples

22% of people always compare the price

8% of people often compare the price

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Always Often Sometimes Rarely NeverA) B) C) D) E)

20

8

32

2119

Comparing the price

Series1

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32% of people sometimes compare the price

21% of people rarely compare the price

19% of people never compare the price

There are two types of jewellery stores that is branded and unbranded so now a day’s some

people before buying jewellery they just compare the price design and all between branded

and unbranded

13) Do you think the entry of branded has affected the sale of u branded?

A) Yes - 79

B) No - 21

A) Yes79%

B) No21%

Affected the sale

Interpretation

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Out of 100 samples

79% of people think that the entry of branded has affected the sale of unbranded

21% of people think it has not affected

The entry of branded will affect the sale of unbranded so based on this survey we can see that

79 people think that it has really affected the sale of local dealer While 21 think that it has not

affected

14) Do you think the celebrity endorsement really influence the purchase of

jewellery?

A) Yes - 24

B) No - 76

24%

76%

Chart TitleA) Yes B) No

Interpretation

Out of 100 samples

24% of people think celebrity endorsement influence the purchase of jewellery

76% of people think celebrity endorsement does not influence the purchase of jewellery

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Celebrity endorsement influences but not much so from the

above there are 24 people who believes that celebrity endorsement really

influence them to buy while other 76 believes it does not influence

15) In what way it influence you?

The people said that it depends up on the actor or actress who endorses the particular and it

also depend upon the popularity of the a brand ambassador like Shivraj Kumar is very

popular actor so many people may get influence by him and from Kalyan Jeweller

16) Do you think local jewellers have to improve upon their service to compete

with branded jeweller?

A) Yes

B) No

80%

20%

Chart TitleA) Yes B) No

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Interpretation

Out of 100 samples

80% of people think they have to improve up on their service and

20% of people think they don’t have to improve

17) On what basis do you think they have to improve?

A) Discounts -40

B) Cash back -18

C) Zero making charge -44

D) Gifts -25

Interpretation

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Discount Csah back Zero making charge

Gifts

A) B) C) D)

40

18

44

25

Improve

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Out of 100 samples

40% of people think they have to start giving discounts

18% of people think they have to give cash back

44% of people think have charge zero making charge

25% of people they have to give gifts

The unbranded stores have to improve upon their service to compete with branded stores. It’s

difficult for all the unbranded stores to come up with the service like debit and credit card

payments and all so they can at least start up with giving discounts, cash back or gifts on

special occasions if possible even zero making charge

Findings

Finding no 1

To understand the reach and awareness about the branded jewellery in Belgaum city.

The first objective was to find out the reach and awareness about the branded

jewellery in Belgaum city. The survey was done and the sampling size was 100 and

the entire 100 respondent were aware about various jewellery brands available in the

market. Kalyan jewellers were the only brand which was known to all 100

respondents. Tata gold plus was to 66 respondent, gold palace52Asmi 47 and Navras

to only 29

Finding no2

To determine the consumer perception about branded jewellery as compared to un-

branded

Many people has one common perception that is they think that the entry of branded

has affected the sale unbranded and the unbranded need to improve upon their service

to compete with branded. Out of 100 respondent 79 thinks that the entry of branded

has affected the sale of local and 21 think it has not affected. Branded jewellery also

provides very good service and the customer are satisfied with the service but were as

the local jeweller has to improve upon their service and out of 100 respondents 80

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thinks they have to improve upon their service and 20

thinks they don’t have to improve . People get an good shopping

experience in branded stores with all latest fashionable and trendy design but in

unbranded we get the same old products

Finding no 3

To understand the consumer buying pattern of branded and un-branded jewellery.

The metal that is preferred most among all the respondent was gold than silver and

platinum. On an average there are very few people who purchase jewellery on

monthly basis i.e. 12 and once in six months 13 and there are many people who

purchase jewellery once in a year and on a special occasion i.e.28 and 50. While

buying jewellery there are few things that are valued most. Based on my survey I have

found that many respondents want their jewellery to be different from others

uniqueness is something that they value most. 60 respondents want their jewellery to

be unique 31 values the craftsmanship or design and 28 value the cost.

There are both branded and unbranded shops available for jewellery and some of

them purchase them purchase jewellery only from branded and some from unbranded

and before comparing they also compare the price between both

Finding no 4

To understand the consumer understanding of branded jewellery based on various

parameters Quality, Price, Service

Many consumers believes that the branded jeweller provides good quality of products

and a very good service with all those special kind of offers and schemes, we can

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open an account in a branded showroom and also we

can purchase the jewellery online and they also accept the credit and debit

cards so because of all this consumer is well satisfied with their service. Consumer

also thinks that the branded jewellers charge higher than local jeweller

Findings no 5

To find out the reasons for consumer purchasing jewellery.

Investment Festivals Fashion GiftingA) B) C) D)

0

10

20

30

40

50

60

70

44

59

23

13

Series1

Jewellery is not only purchased for the sake of wearing but it is also purchased for

many different purposes like now a day’s people believe that gold is the best

investment sp they purchase the gold and keep it with them. Some people purchase

gold for the purpose of gifting during weddings and all. Some of them may be

purchasing it to wear only during festival or for some special occasions. Based on my

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survey I have found that out of 100 respondent 59 of

them purchases the jewellery for festivals 44 purchases it for investment

and 23 for fashion and 13 for gifting. People belonging to the age group of 20-30

purchases it for fashion and investment 30-40 for investment and they wear rarely

during some special occasions and 40+ buys it for gifting

Suggestions

Based on my findings I would suggest a few things those are as follows:

In branded jewellery many people know the Kalyan jeweller, Tata gold plus and Gold

palace because of their advertisement Kalyan jeweller is the store which advertises a

lot and very few people know about Asmi and Navras. So these two stores need to

increase their advertisement put more banners and create awareness about their brand

in market and about Navaras only the people who visit the Bigbazar know about it so

they need to advertise a lot.

Branded jeweller is getting more popular because of their service, design and all. So

to compete with branded stores the unbranded stores need to improve upon their

service. The unbranded store can start with by giving discounts, cash back and gifts

during some special occasions

Like branded even unbranded store should start focusing on advertisement and even

they should start putting banners hoardings and all.

Conclusion

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Here by I would like to conclude that there is a reach

and awareness of branded jewellery store in Belgaum and with the entry

of branded store has affected the sale of unbranded\ family jeweller and many

customers have from branded to unbranded.

Belgaum can also be prefect destination for many other branded stores like Joy

alukaas, Reliance jewel Nakshatra Gili and many others.

BIBLIOGRAPHY

Data collection from following method

Personal interview

Wajra jewellers, Satish karekar jewellers and Trimurti jewellers for jewellery industry

in Belgaum

Website referred

www.Indian jewellery industry.com

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