SUPERVISOR’S CERTIFICATE

This is to certify that Miss BUSHRA RAHMAN a student of B.Com (Honours) in

Accounting & Finance of JOGAMAYA DEVI COLLEGE under the University of Calcutta
has worked under my supervision and guidance for her project and prepared a project report
with the Title A COMPARATIVE STUDY ON THE COMSUMER’S PREFERENCE
AMONG BRANDED AND NON BRANDED JEWELLERS. Which she is submitting, is her
genuine and original work to the best of my knowledge.

Place: Kolkata Signature:

Date:
 STUDENT DECLARATION

I hereby declare that the project work with the title A COMPARATIVE STUDY ON THE
CONSUMER’S PREFERENCE AMONG BRANDED AND NON BRANDED
JEWELLERS. Submitted by me for the partial fulfilment of the degree of B.com (Honours)
in Accounting & Finance under the University of Calcutta is my original work and has not
been submitted earlier to any other University for the fulfilment of the requirement for any
course of study.

I also declare that no chapter of this manuscript in whole or in part has been
incorporated in this report from any earlier work done by others or by me. However, extracts
of any literature which has been used for this report has been duly acknowledged providing
details of such literature in the references.

Place : Kolkata Signature :

Date : Name: Bushra Rahman

Address: 1/E/H/24 Ibrahim Road

Khidderpore
Kolkata -700023

Registration No: 014-1211-0350-21

 ACKNOWLEDGEMENT

I am very thankful to everyone who all supposed me to complete this project efficiently and
on time.

I am also grateful to my supervisor Prof. Sourav Chakraborty who gave me moral support
and guided me in different matters regarding the topic. She has been very kind and patient to
me. Also, corrected my mistakes and cleared all my doubts despite of having such a busy
schedule. I thank her for her overall support.

I would also like to thank my parents for all of their support and all the respondents who
helped me by answering my questionnaire and giving their precious to me for completing my
project report.
 TABLE OF CONTENTS
CHAPTER SECTION PAGE
1. Introduction
1.1 Background 1-3
1.2 Literature Review 4
1.3 Objectives of the Study 5
1.4 Research Methodology 6
1.5 Limitations of Study 7
1.6 Chapter Planning 8
2. Conceptual Framework
2.1 An Overview on Branded 9-10
Jewellery
2.2 Branded Jewellery Market in 11-13
India
2.3 Branded Vs Non Branded 14
Jewellery
2.4 Present Jewellery Statistics 15
2.5 National Scenario of Jewellery 16
2.6 International Scenario of 17
Jewellery
3. Presentation of data,
analysis and findings
3.1 Data Analysis 18-32
3.2 Findings 33
4. Conclusion and
Recommendations
4.1 Conclusion 34
4.2 Recommendations 35
Bibliography and 36
References
Annexure - Questionnaire 37-40
 CHAPTER – 1
INTRODUCTION

1.1 BACKGROUND OF THE STUDY

India is a leading player in the global gems and jewellery market. The gems and jewellery
industry occupies an important position in the Indian economy. It is a leading foreign
exchange earner, as well as one of the fastest growing industries in the country. The two
major segments of the sector in India are gold jewellery and diamonds. Gold jewellery forms
around 80 percent of the Indian Jewellery market, with the balance compressing fabricated
studded jewellery that includes diamond studded as well as gemstone studded jewellery.

The Indian gems and jewellery industry is highly competitive in the world market due to its
low cost of production and the availability of skilled labour. India has a historic relationship
with jewellery.

Many kings, emperors and dynasties featuring countless wars, conquests and political
upheavals have ruled the Indian sub-continent, different dynasties ruled different parts of
India and had different monetary systems, Jewellery acted as a common medium of exchange
or store of value across the monetary systems of different kingdoms across the sub-continent,
especially gold. Hence wealth could still be preserved inspite of wars and political
turbulence. Gold also helped preserve wealth despite any natural calamities and disasters and
for centuries was the only means of savings in rural India, land being the other main asset of
economic value. This has largely helped formulate, or evolve. The Indian sentiment and
fanatical passion of gold, which holds true even today. India is estimated to hold more then
11,000 tons of gold.

TABLE – KARAT CALCULATION

24 Carat 100 percent pure gold

22 Carat 91.66 percent pure gold
20 Carat 83.33 percent pure gold
18 Carat 75 percent pure gold
2 Carat 33 percent pure gold
1 Carat 4.166 percent pure gold
Apart from its historical 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 take with her when she marries and which remains hers. Gold
Jewellery is the preferred Jewellery worn by women in India irrespective of their religious
belief. In marriages, gold jewellery is the gift preferred by the near relatives of the bride and
the groom. Jewellery is very popular amongst farmers as there is an upsurge in gold sales
aster a good agricultural season. Buying gold is an important part of Indian’s life phases __ at
birth, marriage construction of home, festivals, religious ceremonies, setting up of new
business and death.

As India makes rapid progress in the retail arena, the Indian Jewellery market
is undergoing gradual metamorphosis from un-organized to organized formats. The Jewellery
business in India is estimated to be at Rs 50,000 crore. According to the independent
estimations studies conducted by World Gold Council and Mc Kinsey, out of the overall
market share, the share of organized jewellery market is less than Rs 1000 crore. This
accounts to about 2-3 percent of the total market share. But given that this is a relatively new
segment of the market, it is projected to grow. Jewellery retailing is moving from store house
of value to a precious fashion accessory. Plain gold is gradually easing its stranglehold on the
Indian consumers psyche to give way to diamonds, platinum and coloured gemstones. The
way jewellery was worn before is undergoing a tremendous change.

The young Indian woman who is the prime market for the organized retailers
differ from the traditional jewellery customer in many ways as enumerated below,

 She is well educated and more in tune with international trends.

 Increase in working women with high disposable incomes,
 Greater mobility
 Less constrained by traditions
All these reasons and more ensure that the modern Indian woman is looking for jewellery
form a perspective different from the past. In addition, organized retailing offers quality
products, follows standardized practices and uniform pricing strategy. Organized retail
formats work on transparent policies that are not necessarily available at the traditional
jewellery shops. Today, goods and services offered by any retailers who are drawing in?
Consumer’s either across a wide segment of socio economic classification, clearly defined by
them. This has been the first step towards organized jewellery retailing in India. In a short
span of time, organized retailers have successfully implemented a change in the buying
pattern of the Indian consumer.
 1.2 LITERATURE REVIEW

 D.A. (1996), in the market here are largely fragmented and unbranded jewellery
shops. Inspite of product quality and services, people are still buying gold jewels from
local retailers. The income level of the buyers has important contact on the type of
jewellery purchased by them. The choice of jeweller has significant relation with the
geographical site of buyer. The knowledge about the branded jewellers is due to the
advertisements floating on air or there are other sources of information also.

 Goldman, R. (1992) Most of the respondents expect good customer service from the
Jewellery shops. They feel that their thoughts and idea must be given importance at
the time of purchase. Hence the Traditional jewellery shops can improve their service
by providing adequate information to their customers relating to their purchase.
Giving immediate attention by receiving them quickly, recognize the need of the
particular product and helping them to choose one makes the Branded jewellery
becomes more preferable by the customers.

 Biel, A.L. and Bridgewater, CA. (1990), Generic products that resembles goods
produced by brand-name manufacturers. Distributors and retail establishments.
Market perception typically places a lower value on these goods, and the quality and
durability id often lower than branded products.

 Gold, P. (1987). Majority of the people buy gold jewellery for the marriages in their
family. It is a traditional attitude among the people who were belongs to Kanyakumari
district. And gold jewels have different connotations attached to it. It is a habit.
Ornament, companion of the difficult times, way to prosperity and carrier of value.

 Ayzen, 1 , & Fishbin,M. (1980) , the individual consumer has a set of preferences and
vakue whose determinations are outside the realm of economics. They are no doubt
dependent upon culture, education, and individual tastes, among a plethora of other
factors.
 1.3 OBJECTIVES OF THE STUDY

The objective to study the “A comparative study of the consumer’s preference among
Branded and non branded jewellers” is to find out :-

1. To study the consumer preferences amongst the branded and non branded jewellers.

2. To find out the effect of Advertisement on consumers buying decision.

3. To ascertain the factors which influence people to buy from a particular branded
showroom on from local retailers.

4. To find out how frequently people buy jewellery and what intimates the buying
process.
 1.4 RESEARCH METHODOLOGY

1. Data collection methods: The source of data includes primary and secondary data
sources.

Primary Sources: Primary data has been collected directly from sample respondents
through questionnaire and with the help of interview.

Secondary Sources: Secondary data has been collected from standard textbooks,
Newspapers, Magazines & Internet.

2. Research Instrument: Research Instrument used for the primary data collection is
questionnaire.

3. Sample Design: Sample design is definite plan determine before any data is actually
obtained for a sample of 40 from given population

Sample Size: 40 Respondents

4. Period of Study: 2 months

5. Tools used: Bar graphs, tables and pie charts are used as tools in the study.
 1.5 LIMITATIONS OF THE STUDY

To understand the research findings in their right perspective, it is necessary that limitations
of the study should be mentioned, the present research suffers from following limitation.

1. While every effort was made to get the questionnaire filled, even then some elements
of biasness might have crept in.

2. Only 40 respondents have been contacted due to time constrain.

3. Sample may not be the true representative of the universe.

 1.6 CHAPTER PLANNING

My study has been divided into following chapters:

CHAPTER 1: INTRODUCTION

This chapter covers the Background, Literature Review, Objectives, Research Methodology,
and Limitations of the study and Chapter Planning.

CHAPTER 2: CONCEPTUAL FRAMEWORK

This chapter covers conceptual framework of the topic of Project.

CHAPTER 3: PRESENTATION OF DATA, ANALYSIS AND FINDINGS

Presentation of Data, Analysis and Findings are present in this chapter.

CHAPTER 4: CONCLUSION AND RECOMMENDATIONS

In this chapter, the conclusion based on the main findings and recommendations is provided.
 CHAPTER – 2
CONCEPTUAL FRAMEWORK
 CONSUMER BUYING BEHAVIOUR WHILE BUYING JEWELLERY

While buying a product, a consumer displays different kinds of behaviour towards different
kinds of products, from a tube of toothpaste to a new car, more complex decisions usually
involve more buying participants and more buyer deliberations.

While buying an expensive product like jewellery, which satisfies a consumers esteem needs
(according to the Maslow’s hierarchy of needs) a consumer displays complex buying
behaviour, Consumer undertake complex buying behaviour when they are highly involved in
purchase and perceive significant differences among brands. Consumers may be highly
involved when the product is expensive, risky, purchased infrequently, and highly self
expressive.

This buyer will pass through a learning process, first developing belief about the product,
then altitudes, and then making a thoughtful purchase choice. Marketers of high involvement
products must understand the information gathering and evaluation behaviour of high
involvement consumer; they need to help buyers learn about the product attributes and their
relative importance.
 2.1 An Overview on Branded Jewellery

Branded jewellery products have created a sort of revolution in the field of jewellery retail
market. The main attraction of branded jewellery is that they have a unique style of their own
that differentiates them from others. Moreover the designs of the ornaments are exquisite and
have a futuristic approach that offers people a break from the monotonous pieces that are not
in vogue anymore. Each jewel has an element of, distinctiveness and newness that makes it
preferable to the rest of the options. These collections of ornaments are designed in pure gold
and diamond and they are synonym for fitness. The credit for coming up with these
ultramodern pieces of jewellery goes to Malabar Gold. The branded jewellery products have
a great impact on the purchasing power of the consumers and the sale of branded products is
increasing.
 2.2 Branded Jewellery Market in India

1. TANISHQ
In 1984, Quester Investment Limited (a Tata group company) and the Tamil Nadu Industrial
Development Corporation Limited (TIDCO) jointly promoted Titan Watches Limited (Titan).
Initially involved in the watches and clocks business, Titan latter ventured into the jewellery
business. In 1995. Titan change its image from that of a watch manufacturer to that of a
fashion accessories manufacturer, in the same year, it also started its jewellery divisions
under the Tanisha brand.

Among the brand jewellery players in the Indian market , Tanishq is considered to be a
trendsetter. When it was launched in 1995, Tanishq began with 18-carat jewellery. Realizing
that such jewellery did not sell well in the domestic market, the 18 carat jewellery range was
expanded to include 22 and 24 carat ornaments as well. When Tanishq was launched, it sold
most of its products through multi brand stores. In 1998, Tanishq decided to set up its own
chain of retail showrooms to create a distinctive brand image.

By 2002, Tanishq retailed its jewellery through 53 exclusive stores across 41 cities. To meet
increasing demand, Tanishq planned to open 70 stores by the end of 2003 and offer a range of
wearable products with prices starting at Rs 400 with sales of Rs 2.66 million in 2000-01,
Tanishq had a 0.66 percent share pf the total jewellery market and a 27 percent share of the
branded jewellery market. The market! Of Tanishq jewellery is growing since a long time.

2. KALYAN JEWELLERS

The group derives its origins from textile retailing and wholesaling and has experience of
every 100 years in the trade. Kalyan branched out into the field of Jewellery retailing in the
year 1993 by opening its first store in Thrissur.

The reason behind the Kalyan group’s foray into this business itself is quite unique and
makes it interesting to read. The ancestors of the current management come from a pious
background that comprised of priests, saints and advisor to kings. Hailing from the Tanjavur
district of Tamil Nadu, these ancestors had migrated to Kerela.
 The claim, who was a dewan to the Maharaja of Kochi, who believed Enterprise and
business was necessary to create job opportunities and to make India self depended. He also
believed that business should be fair with a social objective and just for self motives. The
group skill adheres to founding practices and ethics.

Kalyan primarily aims at common social good through fair and ethical business practices.
Kalyan is a promise to every customer, a promise of fulfilling the customer’s needs to their
extreme satisfaction and serving only the best in the market.

To give customer much more than what he wants and asks for, in Jewellery retailing. In all
key areas of quality, value for money. Transparency and customer service, through
innovative mean and tools, which in turn will make kalian the most trusted jewellery,
globally.

3. PC JEWELLERS
PC Jeweller started operations in April 2005 with one showroom at Karol Bagh, New Delhi
and is today one of the fastest growing jewellery retail chain with 58 showrooms across 48
cities and 17 states.
Backed by strong promoter team professional management and reputed board, the company
has followed meticulously designed business plan, believed in speedy execution with careful
optimism over the years.
About Them
It all started when PC’ Jeweller first opened its first showroom in 2005 in Karol Nagh, New
Delhi with a vision to redefine elegance, allure and style in the form of stunning pieces of
jewellery. Today they have physical presence at 58 showrooms across 48 cities and 17 states.
Since its inception, the company has been a pioneer in designs as every product is crafted to a
standard perfection. Whether it is elaborate wedding jewellery or affordable wearable, PC
Jeweller has fashioned exceptional designs with unmatched quality , over time timeless
treasure from PC Jeweller have helped intimate moments becomes lifetime memories.
Company’s business model, consist of setting up large format, stand alone showrooms at high
street locations, its stores stock a wide range jewellery across all price points, with an
increasing focus on diamond jewellery.. The compactly certifies diamond jewellery. This
assurance on quality and purity along with the transparent and customer friendly policies
have enabled. PCJ to become and established and trusted brand. From sourcing raw materials
to the sale of the finished product, all their processes are integrated and aligned. We map out
customer preferences and manufacture products in a way that leaves our customers spoilt for
choice while making their purchases. Throughout the entire process, stringent quality
measures are taken to ensure the purity, value and finish of the product. Our expertise extends
to the possibilities of customized and personalized designs to help the customer fond and
designs her or his perfect pieces of jewellery.

4. GANPATI JEWELLERS

Ganpati Jewellers, a group of companies who believe in quality for the last four decades,
Shree Ganesh Jewellers Ltd. It’s a well known name in the exports of designer and studded
jewellery in India and abroad? The company is promotes by Mr Kailash Kalra. During a short
span especially because of Mr Kailash Kalra’s hard work, leadership, understanding of
buyer’s requirements and limitless efforts and quality consciousness that the company is
continuously increasing its market share.

Ganpati Jewellers has the following three claims to fame in short span of two years.
The first jewellers in Punjab to have:-
1. ISO 9002 Certification
2. Diamond tested by computerized Magnifying Machine
3. Gold jewellery tested by computerized spectro Machines

This is clear that they are emphasizing on quality rather than quantity at affordable prices
over its well known competitors. The company has specialized in plain, studded jewellery,
finely crafted, contemporary designs with care in details and savings you cannot ignore.

The jeweller is now well established in the industry in terms of innovative designs, creativity,
skills & quality products. Ganpati Jewellers is constantly in the pursuit of excellence to meet
individual needs, in this fast changing fashion world.
 2.3 BRANDED VS NON BRANDED JEWELLERY

BRANDED JEWELLERY TRADITIONAL JEWELLERY / NON-

BRANDED JEWELLERY
Name and reputation attached to any item Traditional jewellery will also be around
gives a degree of confidence to the consumer where by consumers tailor – make their
jewellery according to their preferences.
Branded jewellery comes with a written life There is no written lifetime guarantee. Trust
time guarantee, keeping in mind the is purely based on individual’s trust in his
emotional quotient of the consumer jeweller
Excellent quality, quality of finish, Minimum efforts in packaging, finishing,
packaging, sales for force, selling policies sales and low advertising
and backup service for their jewellery
Can be brought at any time of the year, food Is bought for specific occasions like
also be in pulsive buying marriage, festivals etc.
Run by experienced and new breed Run by traditional jewellers
manufactures that have prior marketing
background from their business in the export
markets
Has a more contemporary, stylish and classic Is usually traditional, bulky and ornate.
outlook, which easily segments itself among
the traditional ones.
Most branded jewellery is diamond – studded Traditional Jewellery is primarily gold
jewellery
Most diamond jewellery is certified for gold Need not necessarily be satisfied and comes
and diamond content and is sold at an MRP with a complete break up of the gold and
without a break up of the gold and diamond diamond content, including making and
content wastage charges.
 2.4 PRESENT JEWELLERY STATISTICS

Imagine if the vast majority of fashion were unbranded, sold by generic retailers and small
time traders instead of globally recognized giants. In the market for fine jewellery which
includes anything made from precious metals and gemstones - This is the norm. According to
a February 2014 report, 80 percent of the worth of fine jewellery sold annually remains
unbranded, bought at a range of national retailers, midsized single branch enterprises and
small mom and pop stores. The 10 biggest jewellery groups capture a mere 12 percent of the
worldwide market.
But while today branded jewellery accounts for mere 20 percent of the overall fine jewellery
market, the segment has doubled since 2003 and is expected to comprise 30 to 40 percent of
the fine jewellery market by 2020. Some industries observes project that the ten largest
houses will double their market share by 2020, primarily by accruing local players and if the
appeal industry does in the hold any lessons for the jewellery industry, incumbent jewellery
houses will soon be fighting bidding wars against private equity players with deep pockets.
 2.5 NATIONAL SCENARIO OF JEWELLERY

The jewellery sector in India highly unorganized having only 4-5 percent share as organized.
So, it provides an opportunity to organized gold jewellers can to enter into Indian market.
Now there are more than 15,000 players across the country in this sector. There are about
4,50,000 goldsmiths spread throughout the country. There are numerous of national players
who are engaged in organized sector such as Tata (Tanishq), Peacock Jewellers Private Ltd.
Joy Aluklas etc Multinational jewellery brands such as Tiffany, Christian Dior , Bvalgari,
Hary Winston and Zales are to be entered after the approval the Government. There are
numerous factors which motivates the customers to buy branded jewellery over unbranded
jewellery. These factors includes attractive and innovative designs, better quality , purity
variety, durability, light weight, comfort ability to wear, uniqueness, trust, specific product
benefits or shopping experience, status symbol etc. Hence, these factors are affecting the
behaviour of the customers in purchasing jewellery. With this background, the present study
focused on the attitude of gold buyers towards branded and non branded jewellery
 2.6 INTERNATIONAL SCENARIO OF JEWELLERY

The global jewellery market size was valued at USD 249.02 billion in 2021 and is expected
to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030. Increasing
disposable income and innovative jewellery designs offered by manufacturers are expected to
drive the product demand. Changing lifestyles and perceptions of jewellery as a status symbol
are expected to boost the growth of this market. COVID – 19 has had a positive effect on
jewellery sales, with 30% of + consumers in a recent poll reporting they purchased more
jewellery during the pandemic, according to a study from the supplier group, the Plumb Club.
The survey entitled “The Plumb Club Industry & Market Insights 2021” also noticed that
49% of consumers bought as much jewellery as they always did, while 21% purchased less.
 CHAPTER : 4
CONCLUSION
AND
RECOMMENDATION
 4.1 CONCLUSION

We have concluded from the above study that the individuals are moving towards brands
rather than local retailers. Most of the population buys Jewellery once in a long time and the
reason why people going for more of branded Jewellery is the quality of the jewellery is
excellent. It is not that people are ignoring local retailers large number of total population still
demand local jewellers and the reason is the store is located near their how’s and so it is
easily approachable. People generally don’t compare the prices between the branded
showroom and the local dealers. Majority of respondents are affected by the advertisement.

4.2 RECOMMENDATIONS
 From the above analysis we have come to the conclusion that the local retailers should
adopt the Quality of the jewellery they are offering to the consumers.

 They should also provide wide range of the product they are offering so that they can
capture larger share in the market.

 Branded retailers should focus on reducing the cost and try to develop the must factor
with the consumers so that it will help them increase their sales.

 They should target different consumer segments by introducing a low priced jewellery
range.
 BIBLIOGRAPHY
BOOKS

 C.R. Kothari, “Research and Methodology Methods and Techniques”, New Age
International (p) Lid. 2010
 C.N. Sontakki Marketing Management

JOURNALS

 Aaker, D.A., (1996)” Building gold”, New York: The Free Press.

 Ajnen, I., & Fishbein, M. (1980). “Understanding attitudes and predicting social
Behaviour’, Toronto, Ontario: Prentice-Hall.

 Biel, A.L. and Bridgewater, C.A. (1990). “Attributes of Likeabble”. Journal of

Advertising Research, 30, 3 (1990): 38-44

 Goldman, R. (1992) Rise in Demand for Artificial Jewellery (Routledge, New York,
NY.)

REFERENCES

WEBISTES
 www.google.com
 www.yahoo.com
 www.wikipedia.com
 ANNEXURE

QUESTIONAIRE

NAME : _____________________________________________

1. How do you get know about GST?

Friends/Family

Mass media

Online Source

Others

2. GENDER: M F OTHERS

3. Education?

SSC

HSC

Graduate

Post-graduate

4. Professional Status?

Student

Working Professional

Unemployed
5. Monthly Income?

Less than 10,000

10,000 – 30,000

30,000 – 50,000

50,000 & above

6. Do you agree with the implementation of GST in India?

Yes

No

7. Do you think implementing GST will cause higher price of goods &services?

Yes

No

8. Do you think all businesses need to be registered under GST?

Yes

No

9. Do you think INIDA is ready for implementing GST?

Yes

No

10. How was your experience using GST?

Poor

Satisfactory

Good

Excellent
11. GST has increased the tax burden on common citizens ?

Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree

12. GST implementation is creating negative impact on small businesses.

Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree
 (Submitted for the Degree of B.Com Honours in Accounting & Finance under
The University of Calcutta)

A COMPARATIVE STUDY ON THE CONSUMER’S PREFERENCE AMONG

BRANDED AND NON BRANDED JEWELLERY

Submitted By
Name of the Candidate : BUSHRA RAHMAN

Registration No : 014-1211-0350-21

Roll No : 211014-11-0015

Name of the College : JOGAMAYA DEVI COLLEGE

Supervised by

Name of the Supervisor : Prof. SOURAV CHAKRABORTY

Name of the College : JOGAMAYA DEVI COLLEGE

Month & Year of Submission : MAY, 2024