Brand Awareness and Perception towards Branded Jewellery
1. TITLE OF THE STUDY
A Study on “Brand awareness and perception towards branded jewellery with specific reference to Malabar Gold and Diamonds”
2. INTRODUCTION
The gems and jewellery industry occupies an important position in the Indian economy and is one of the fastest growing industries in the country. In the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions of jewellery. Apart from its historical religious significance, Jewellery is valued as an important savings and investment vehicle in India. Even in present times, Jewellery remains the Indian bride's `Streedhan', the wealth she takes with her when she marries and which remains hers. Gold jewellery is the preferred jewellery worn by women in India irrespective of their religious beliefs. In marriages, gold jewellery is the gift preferred by the near relatives of the bride and the groom. Jewellery is very popular among farmers, with an upsurge in gold sales after a good agricultural season. Buying of gold is an important part of every stage of an Indian citizen's life— at birth, marriage, construction of home, festivals, religious ceremonies, setting up of new business, and death. Instead of being regarded as only an investment option, jewellery was being prized for its aesthetic appeal. In other words, 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.
As India makes rapid progress in the retail arena, the Indian Jewellery market is undergoing a gradual metamorphosis from unorganised to organised formats. 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, platinum and coloured gemstones. The way jewellery was worn before is undergoing a tremendous change.
A Study on “Brand awareness and perception towards branded jewellery with specific reference to Malabar Gold and Diamonds”
2. INTRODUCTION
The gems and jewellery industry occupies an important position in the Indian economy and is one of the fastest growing industries in the country. In the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions of jewellery. Apart from its historical religious significance, Jewellery is valued as an important savings and investment vehicle in India. Even in present times, Jewellery remains the Indian bride's `Streedhan', the wealth she takes with her when she marries and which remains hers. Gold jewellery is the preferred jewellery worn by women in India irrespective of their religious beliefs. In marriages, gold jewellery is the gift preferred by the near relatives of the bride and the groom. Jewellery is very popular among farmers, with an upsurge in gold sales after a good agricultural season. Buying of gold is an important part of every stage of an Indian citizen's life— at birth, marriage, construction of home, festivals, religious ceremonies, setting up of new business, and death. Instead of being regarded as only an investment option, jewellery was being prized for its aesthetic appeal. In other words, 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.
As India makes rapid progress in the retail arena, the Indian Jewellery market is undergoing a gradual metamorphosis from unorganised to organised formats. 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, platinum and coloured gemstones. The way jewellery was worn before is undergoing a tremendous change.