Volume : 3, Issue : 5, May - 2014

An Emperical Study on Consumer Preferences Towards Branded Jewelry in Tirupati

M. B. Jyothi, K. V. S. N. Jawahar Babu

Abstract :

Jewelry has a special significance in Indian culture. The inclination to buy gold/jewelry has been reinforced by the fact that gold is the only commodity on earth which has been giving positive cumulative rate of return i.e. every year on year (YoY) gold price have increased. The gems and jewelry is the sector which is boosting Indian economy and has also been one of the fastest growing sectors in the past few years. Today, India has a large domestic market; it is also the largest consumer of gold jewelry in the world with 29% share of total gold demand for gold as jewelry. The market size of the Indian gems and jewelry was INR 251,000 crores in 2013 Jewelry market was largely dominated by the small retailers which was unorganized. One of the most encouraging trends is that the Indians are attracting towards organized jewelers. Tirupati is a classic example of a tier three city which is a perfect prototype as a sample to draw inference. The purpose is to decipher the consumer preferences towards anded jewelry in this extremely market driven rapidly growing industry.