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Market Size
Fourth largest consumer market in the world
Jewellery Market Size: Rs75,000 crores
Diamond jewellery: Rs10,000 crores
Largest market in terms of volume of gold
India accounts for more than 22% of the total gold
used for jewellery purposes
Growth
Gold jewellery Market Growth: 8-10%
Diamond jewellery Market:18%-20%
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Yhe Indian jewellery market is one of the
largest in the world, with a market size
of $13 billion. It is second only to the US
market of $ 40 billion and is followed by
China at $11 billion. Yhe gold jewellery
market is growing at 15 per cent per
annum and the diamond jewellery
market at 27 per cent per annum.
Future of the Indian Jewellery Market:
u India·s growing importance in the global jewellery market is only expected
to increase in the future with total estimated jewellery sales of US$ 21
billion by 2010 and US$ 37 billion by 2015.
u Diamond jewellery consumption in India is also estimated to jump by 78
per cent in 2010.
u randed jewellery is likely to be the fastest-growing segment in domestic
sales. Yhe sector is expected to grow at 40 per cent annually to touch US$
2.2 billion by 2010.
u Indian diamond jewellery industry is the third largest consumer of polished
diamonds after USA and Japan. Diamond jewellery consumption is likely
to jump to nearly 80 per cent in 2010 and over 95 per cent between 2010
and 2015.
u £arious government incentives coupled with private sector initiatives are
projected to drive the sales of Indian gems and jewellery sector at a
CAGR of around 14% from 2007-08 to 2010-11.
u Yhe organized gems and jewellery sector is anticipated to grow rapidly in
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Yhe main occasions to buy are still marriage and
festivals
Entering to international market is becoming tough.
Although guarantee of the retailer is important in
ascertaining quality, hallmarking is gaining acceptance
Gold as a share of wallet is decreasing in the younger
generation. Yraditional jewellery is still the dominant
design pattern while contemporary styles are
emerging fast
In the past choice of stores used to be 1-2 stores, but
customers now look at 4-5 stores for range and choice
of jewellery
Customers in the high value category are becoming
more informed because of exposure to media and
fashion trends
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-UESYION AND ANSWERS
[ Design Differentiation becoming the USP
More emphasis laid on formal design training in jewelry
category especially by the organized players
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