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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 Societys College of Business Administration, Lingaraj College, (CBALC), Belgaum AUTOMONOUS Re-accredited with A level by NAAC

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Survey on jewellery in Belgaum

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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Survey on jewellery in Belgaum

Table of content
SL.no Topics 1 Jewellery Industry in India 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 3- 14 Pg. no

2 Back ground of the research About jewellery industry in Belgaum Research problems and research objectives Research design 3 Interpretation 4 Suggestion 5 Conclusion

15- 17

18-37 38 38 39

Bibliography

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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 Indias 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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Survey on jewellery in Belgaum 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 Indias 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. Indias 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 AprilSeptember 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 worlds 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. Indias 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, waxcasting), 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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Survey on jewellery in Belgaum

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 dont give credit to their customer. Branded jewellers doesnt 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 unbranded 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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Survey on jewellery in Belgaum

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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Occasions when people wear jewellery


Series1 39 29 19 13 16

Festivel A)

Function B)

Marriage C)

parties D)

Regularly E)

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

Metal that is prafered most


Series1 91

31 15

Gold A)

Platinum B)

Silver C

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 days 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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4) Jewellery purchased in a average A) Once in a month B) Once in every six months C) Once in a year D) Only on a special occasions - 12 - 13 - 28 -50

Jewellery purchased (on average)


Series1 50

28 12 13

Once in a month A)

Once in every six months B)

once in a year C)

On a special occasions D)

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 jewellery twice in a year or on monthly basis may be wearing it for fashion or regularly.
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5) Purpose of buying jewellery A) Investment B) Occasions and festivals C) Fashion D) Gifting - 44 -59 - 23 - 13

Purpose of buying jewellery


Series1 59 44 23 13 Gifting D)

Investment A)

Festivals B)

Fashion C)

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 B) Cost C) Uniqueness - 31 - 28 - 60

Value
Series1 60

31

28

Craftmanship A)

Cost B)

Uniqueness C)

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 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

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7) Where do you prefer buying jewellery? A) Branded B) Un-branded / Family Jeweller - 67 - 52

peopel prefer buying jewellery


Series1 67 52

Branded A)

Unbranded B)

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 are available in Belgaum city so many people shifting from their family jewellers to branded.

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8) What attracts towards family jewellers? A) Convenience B) Trust worthiness C) Price D) Durability E) Design F) Variety of products -17 -53 -21 -38 -52 -25

Attaction towards family jeweller


Series1 53 38 17 21 25 52

Convenience

Durability

Design E)

Price

A)

B)

C)

D)

Interpretation
Out of 100 samples 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
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Variety of products F)

Trust worthiness

Survey on jewellery in Belgaum

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
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.

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10) Tick against the brand that you are aware about in the market A) Kalyan jewellers B) Tata gold plus C) Navaras D) Asmi E) Gold palace -100 -66 -29 -47 -52

Awerness of brands
Series1 66 47 29 52

Tata gold plus A)

Navaras B)

Asmi C)

Gold Palace D)

Interpretation
Out of 100 samples 100% of people are aware of Kalyan jeweller 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 wont advertise more
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Survey on jewellery in Belgaum

11) Which parameter of a branded jeweller attracts you towards them? A) Variety of products B) Shopping experience C) Trendy and fashionable jewellery D) Trust worthiness E) Durability F) Price G) Offers and Schemes
Attraction towards branded jewellery
Series1 45 36 29 26 32 24 30

-45 -29 -26 -36 -32 -24 -30

Trust worthiness

Trendy and fashoinable jewellery

Durability

Price

A)

B)

C)

D)

E)

F)

G)

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

Offers and Schemes

Shopping exerience

Variety of Products

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Survey on jewellery in Belgaum

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 B) Often - 20 -8

C) Sometimes -32 D) Rarely E) Never -21 -19

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Survey on jewellery in Belgaum

Comparing the price


Series1 32 21

20

19

Always A)

Often B)

Sometimes C)

Rarely D)

Never E)

Interpretation
Out of 100 samples 22% of people always compare the price 8% of people often compare the price 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 days some people before buying jewellery they just compare the price design and all between branded and unbranded

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Survey on jewellery in Belgaum

13) Do you think the entry of branded has affected the sale of u branded? A) Yes - 79 B) No - 21

Affected the sale

B) No 21%

A) Yes 79%

Interpretation
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

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Survey on jewellery in Belgaum

14) Do you think the celebrity endorsement really influence the purchase of jewellery? A) Yes B) No - 24 - 76

Chart Title
A) Yes B) No

24%

76%

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 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

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Survey on jewellery in Belgaum

16) Do you think local jewellers have to improve upon their service to compete with branded jeweller? A) Yes B) No

Chart Title
A) Yes B) No

20%

80%

Interpretation
Out of 100 samples 80% of people think they have to improve up on their service and 20% of people think they dont have to improve

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Survey on jewellery in Belgaum

17) On what basis do you think they have to improve? A) Discounts B) Cash back C) Zero making charge D) Gifts -40 -18 -44 -25

Improve
Series1 40 44

25 18

Discount A)

Csah back B)

Zero making charge C)

Gifts D)

Interpretation
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. Its 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
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Survey on jewellery in Belgaum

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 unbranded 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 thinks they have to improve upon their service and 20 thinks they dont 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

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Survey on jewellery in Belgaum

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 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

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Survey on jewellery in Belgaum

Findings no 5
To find out the reasons for consumer purchasing jewellery.

70 60 50 40 30 20 10 0 Investment A) Festivals B) Series1 Fashion C) Gifting D) 23 13 44 59

Jewellery is not only purchased for the sake of wearing but it is also purchased for many different purposes like now a days 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 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

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Survey on jewellery in Belgaum

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
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.

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Survey on jewellery in Belgaum

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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