THE ART OF JEWELLERY releases exclusive survey on Indian Jewellery Retail: Untapped Opportunities & Market Challenges

Online, August 12, 2010 (Newswire.com) - Keeping up with its well established tradition of adding tangible value to the jewellery industry and trade, The Art of Jewellery, India's most influential magazine on the jewellery industry commissioned an exclusive and in-depth nationwide survey on 'Indian Jewellery Retail: Market Challenges & Opportunities'. Conducted by Pune-based Market Source Consultancy Service (MSCS), a renowned research firm, the survey covered 500 prominent jewellery retailers in 10 Indian cities, comprising four metros, namely Hyderabad, Bangalore, Indore, Chennai, Kolkata, Delhi, Ahmedabad, Jaipur, Pune and Mumbai.
The complete details of the survey, along with key findings have been published in the IIJS Special issue of the magazine. This bumper issue will be released during India International Jewellery Show to be held at NSE grounds in Mumbai from Aug 19-23.
"This is one of the many path-breaking initiatives undertaken by The Art of Jewellery brand for the benefit of the Indian jewellery trade. The survey findings will answer many key questions that will impact the way jewellery businesses is done," says Mr. Sumesh Wadhera, the Managing Director and Chief Editor of The Art of Jewellery.
"Last year at IIJS, we had published our first exclusive survey on the 'Changing face of Indian Jewellery retailers' and going by the phenomenal response we received, we have continued the trend this year," adds Mr. Wadhera.

The methodology adopted to conduct the survey included Desk Research, Field Research and Data Analysis & Report writing.

Some of the key findings of the survey include:

• Consumer buying preferences in last couple of years have changed. In diamonds, studded jewellery has been the major choice of customers followed by Solitaires. In gold jewellery, it was observed that 22 karat gold jewellery was the most opted jewellery for as compared to 23 Karat and 18 Karat. Over the years inclination to platinum jewellery has been on the rise.

• Around 58% of the respondents preferred stocking a general merchandise of jewellery, while 42% preferred catering to a niche.

• Retailers were more inclined towards in-house manufacturing due to cost-effectiveness and scope for customize designs.84% provided in-house manufacturing service and 16% sourced from established jewellery manufacturers.

• Interestingly retailers did not seem eager in stocking jewellery brands, only 37% retailers stocked jewellery brands and the other 63% did mot seem much interested.

• Around 92% retailers said that their future generation was interested in carrying the jewellery business forward.

For more details and findings, check out the IIJS special bumper issue of The Art of Jewellery.