Consumer behaviour in jewellery
MM1SEC F 2014
GROUP NO: 8 SUBMISSION NO 5 ON July 14,204
SUBMISSION TITLE: CONSUMER BEHAVIOUR
PRODUCT JEWELRY
INDIAN INSTITUTE OF MANAGEMENT LUCKNOW Consumer Behaviour Gold Jewelry
People in India have been large consumers of gold in jewelry form for consumption as well as investment. Gold jewelry holds the largest share in terms of spending on luxury goods, for Indian households across different income categories. As per a survey conducted by Morgan Stanley in 2011, Gold accounts for one-third of the household portfolios in India.
According to the research conducted by Centre for Comparative Studies: 70% of consumers in Cochin and 38% in Delhi chose Gold as their major investment option. The primary reason being stable nature of gold, and also the high returns involved.
Reason for Buying:-
The preferences of Indian consumer for gold jewelry have also changed with time. Consumers prefer lightweight, affordable and designer jewelry more. The reason for buying primarily has been personal consumption. Gifting jewelry in marriage is also another significant reason but it is mostly in marriages.
Modern Women Shoppers:-
As the Indian women are becoming more economically independent, the demographics of the jewelry market are changing. They are mostly young in the age group of 25 to 30 years. Among them the salaried women prefer jewelry that they can wear everyday at their workplace while married women prefer jewelry suited for religious and wedding occasions.
What women buy:-
It has been observed that bangles being the most preferred ornament having a share of 48%, followed by rings which capture 21% of share. Also women in lower age groups, predominantly prefer buying rings than other products.
As per the survey conducted by FICCI, Ceremonial and bridal wear is the primary reason for gold
GROUP NO: 8 SUBMISSION NO 5 ON July 14,204
SUBMISSION TITLE: CONSUMER BEHAVIOUR
PRODUCT JEWELRY
INDIAN INSTITUTE OF MANAGEMENT LUCKNOW Consumer Behaviour Gold Jewelry
People in India have been large consumers of gold in jewelry form for consumption as well as investment. Gold jewelry holds the largest share in terms of spending on luxury goods, for Indian households across different income categories. As per a survey conducted by Morgan Stanley in 2011, Gold accounts for one-third of the household portfolios in India.
According to the research conducted by Centre for Comparative Studies: 70% of consumers in Cochin and 38% in Delhi chose Gold as their major investment option. The primary reason being stable nature of gold, and also the high returns involved.
Reason for Buying:-
The preferences of Indian consumer for gold jewelry have also changed with time. Consumers prefer lightweight, affordable and designer jewelry more. The reason for buying primarily has been personal consumption. Gifting jewelry in marriage is also another significant reason but it is mostly in marriages.
Modern Women Shoppers:-
As the Indian women are becoming more economically independent, the demographics of the jewelry market are changing. They are mostly young in the age group of 25 to 30 years. Among them the salaried women prefer jewelry that they can wear everyday at their workplace while married women prefer jewelry suited for religious and wedding occasions.
What women buy:-
It has been observed that bangles being the most preferred ornament having a share of 48%, followed by rings which capture 21% of share. Also women in lower age groups, predominantly prefer buying rings than other products.
As per the survey conducted by FICCI, Ceremonial and bridal wear is the primary reason for gold