PROJECT REPORT

“Status, Problems and Prospect of unorganized Jems and

Jewellery Market
(A Case Study of Haldwani Region of Uttarakhand)
Submitted to

VEER MADHO SINGH BHANDARI UTTARAKHAND

TECHNICAL UNIVERSITY

IN PARTIAL FULFILLMENT OF THE

REQUIREMENT FOR THE AWARD OF DEGREE OF
MASTER OF BUSINESS ADMINISTRATION

(2023 – 2024)

Submitted to: Submitted by:

Dr. Amanjeet Singh Sethi (Assistant Professor) Rohit Negi

Veer Mahado Singh Bhandari Uttarakhand Technical

University Faculty of Commerce and Business

Management
Amrapali Group of
Institutes Shiksha Nagar,
Lamachaur
 CERTIFICATE

This is to certify that this project work titled “A Study on Impact Of Social
Media Marketing On Consumer Buying Behaviour” Submitted by Rohit
Negi of MBA IV Semester for partial fulfillment of award of the degree of Master
of Business Administration was carried out by him/her under my guidance. He
was sincere in putting efforts to present this project report.

Dr Amanjeet Singh Sethi

Assistant Professor

Faculty of Commerce and Business Management

 STUDENT DECLARATION

I hereby declare that the project report entitled “Present status, Problems and
Prospect of unorganized Jems and Jewellery Market(A Case Study of
Haldwani)” is written and submitted by me under the guidance of Dr. Amanjeet
Singh Sethi, Assistant Professor, Faculty of Commerce & Business
Management, Amrapali Group of Institutes. The information incorporated in this
project is true and original to the best of my knowledge. This report is my
original work and has not been copied from any other sources.

Rohit Negi COUNTERSIGNED BY:

MBA- IV SEMESTER

ROLL NO.: 220030505046

Date:

Place:

Signature

of

.
 ACKNOWLEDGEMENT

The satiation and euphoria that accompany the successful completion of a task
would be incomplete without the mention of the people who made it possible.

After all, success is the epitome of hard work, severance, zeal, steadfast
determination, and most of all encouraging guidance. So, with immense
gratitude, I acknowledge all those whose guidance and encouragement served as
a “beacon light” and crowned our efforts with success.

My sincere thanks to my project guide Dr. Amanjeet Singh Sethi for his
proficient and wholehearted support for guiding me to complete my project
smoothly. Needless to add that without his advice and support the project would
never have been completed. I will ever remain indebted towards my parents and
thank them for giving the financial and moral support throughout these days.

I am also deeply indebted to my friends and other colleagues for their help in
the completion of work.
Abstract
This study explores“A Study on Impact Of Social Media Marketing On
Consumer Buying Behaviour”. With the exponential growth of social media
platforms, marketers have increasingly turned to these channels to engage with
consumers and drive purchasing decisions. Through a comprehensive review of
existing literature and empirical research, this study examines the mechanisms
through which social media marketing strategies shape consumer behavior.

The abstract begins with an overview of the significance of social media

marketing in today's marketing landscape, highlighting its pervasive reach and
interactive nature. It then delves into the key theoretical frameworks used to
understand the impact of social media on consumer behavior, such as social
influence theory, consumer engagement theory, and the elaboration likelihood
model. These frameworks provide insights into how social media content,
including advertisements, influencer endorsements, and user-generated content,
can affect consumers' attitudes, perceptions, and purchasing intentions
 Table of Contents
Chapter 1.
Introduction

1.1 History 1 1.2 Gold Market in India 1 1.3 Organized and

Unorganized sector 3 1.4 Future Ahead 6 1.5 Haldwani Gold Market 6
1.6 Problem Statement 7 1.7 Limitations of the study 7
1.8 PARSHURAM JI ECOMM PVT.
LTD.

Chapter 2. Review of Literature

Chapter 3. Objectives and Research Methodology

3.1 Objectives of the study 3.2 Operational definition 3.2 Research

Methodology 3.3 Method and approach of the study

Chapter 4. Data Analysis and Interpretation

4.1 No of retailer registered in GST 17 4.2 BIS Hallmark registered

retailer 18 4.3 Internet Usage showcasing design to customer 19 4.4
Android usage 20 4.5 Buying Season 21 4.6 Youth Jewellery demand 22
4.7 Most demanded jewelry during bridal season 23 4.8 Most demanded
jewelry during Diwali season 24 4.9 Most demanded jewelry during
Akshaya Tritiya 25 4.10 Most demanded jewelry during occasional
buying 26

5
4.11 Highest selling inventory 27 4.12 Making Charges (customers) 28
4.13 Design Selection 29 4.14 Availability of items 30 4.15 Type of Sale 31
4.16 Type of Billing 32 4.17 Purity of Gold 33 4.18 Delivery mode 34 4.19
Collaboration with other retailers 35 4.20 Preferred buying mode 36
4.21 Consignment Size 37 4.22 Ready Stock during peak season 38
4.23
 Restocking during peak season 39 4.24 Problems during purchase from
wholesaler 40 4.25 Catalog update 41 4.26 Attaining Catalog 42 4.27
Competition due to Arrival of Branded Stores 43 4.28 Demand of
Hallmark Jewellery 44 4.29 Awareness Regarding Hallmarking 45 4.30
Customer Bring Their Own Design 46 4.31 Increase in demand of Fancy
jewelry 47 4.32 Selection of Design Via Internet 48 4.33 Usage of LED
Display of Attracting Customers 49 4.34Application with Helps in
Serving Customer 50 4.35Event Helps in Capturing Customers 51 4.36
Satisfied regarding Quality of Gold 52 4.37 Satisfied with delivery time
of Wholesaler 53 4.38 Catalog provided by wholesaler 54 4.39 Exact
design provided by wholesaler 55 4.40 Credit facility by wholesaler 56
4.41 Vivid design availability with wholesaler 57 4.42 Small consignment
by wholesaler 58

6
4.43 Satisfied with hallmarking quality 59 4.44 Catchment of Haldwani
60

Chapter 5.

5.1 Findings and Conclusion 61 5.2 Suggestions 62

Bibliography

Annexure

Chapter 1
 Introduction
1.1 History
The history of jewelry can be traced back over 300 BC and gold jewelry was
found in the tombs of Tutankhamen. Jewelry has been a part of Indian
civilization for many centuries. It was around 5,000 years in the ancient past that
the need for decoration of human bodies conceptualized the art of jewelry
making in India. One of the first to start jewelry making were the peoples of the
Indus Valley Civilization. In India jewelry was crafted not only for humans but
also for Gods and Goddess (kavachas, ornaments, chhatri). For the rulers, jewels
were a statement of power, prosperity and prestige. But for the Indian woman,
jewelry was and is, even today in many parts considered as a security, the value
of which will almost always accentuate, never depreciate. Indian gold jewelry
has not remained just a craft but evolved into an art - both in design and
workmanship.

1.2 Gold Market in India

Gold jewelry retail industry in India is witnessing a structural transformation
with organized retailing gaining prominence. The Indian gold jewelry industry is
the largest globally, valued at USD 40 billion including recycled volumes. It is
driven by a gamut of cultural, social and demographic factors. Contribution of
organized retail to total jewelry consumed in India has grown to 15% from less
than 5% over the past decade. Organized players have steadily chipped away
market share from unorganized retailers by addressing the need for enhanced
experience of a demanding customer base, which is marked by shifting
demographic and socio-economic profiles.
Gold demand in India rose to 523.93 tonnes between January to September
2018. India’s gems and jewelry exports stood at US$ 20.73 billion between April
to November. The gems and jewelry market in India are home to more than
3000,000 players, with the majority being small players. Its market size is about
US$ 75 billion as of 2017 and is expected to reach US$ 100 billion by 2025. It
contributes 29 percent to global jewelry consumption.

8
 India’s jewelry market has remained flat over FY 14-18 as both volume and
price have remained stable. However, 17 leading organized retailers such as
Tanishq, Tribhovandas Bhimji Zaveri (TBZ) and Thangamayil across the country
have grown at around a CAGR of 11 per cent, implying a clear shift of business
towards the organized trade on aggressive expansion of footprint. According to
HDFC securities, this group of 17 jewelers will corner around 42 per cent of the
domestic market by FY23 (from 29 percent currently) underpinned by their
aggressive expansion drive, design might and increasingly competitive pricing
regarding family jewelers.

1.2.1 Policies and Regulations Affecting Jewellery Business in

India Gem and Jewellery Export Promotion Council –

GJEPC
The Government of India has designated the Gem and Jewellery Export
Promotion Council (GJEPC) as the importing and exporting authority in India in
keeping with its international obligations under section IV (b) of the Kimberley
Process Certification Scheme (KPCS). The KPCS has been implemented in
India from January 1, 2003 by the Government of India.
Hallmarking practice established
The value of jewelry is directly related to purity of gold. But now with the value,
its design, elements, Hallmarking, etc., also matter most while purchasing a
branded gold jewelry. Since the price of gold was fixed, the gold jewelers tried to
compromise on purity of the jewelry. As a result, in January 1999, the Bureau of
India Standards (BIS) was designated as the sole agency to operate a hallmarking
scheme for gold jewelry. On 11 April 2000, the BIS launched its hallmarking
scheme. The basic objectives of the scheme were Consumer Protection, to
enhance exports, to improve the quality and purity of gold jewelry produced and
to monitor any loss to the economy due to the improper cartage.
Gold Monetisation Scheme Enables Individuals, trusts and mutual funds to
deposit gold with banks and earn interest on the same in return. As of January
2018, the Reserve Bank of India (RBI) has increased the scope of the gold
monetisation scheme by allowing charitable institutions and government entities
to deposit gold, which is expected to boost deposits over the coming months.

9
 Sovereign Gold bond schemes are government securities denominated in grams
of gold. They are substitutes for holding physical gold. Investors must pay the
issue price in cash and the bonds will be redeemed in cash on maturity. The
Bond is issued by the Reserve Bank on behalf of the Government of India.

1.3 Organized and Unorganized sector

India’s gold jewelry retail industry is highly fragmented. There are a few regional and
national chains, but small, independent retailers take the lion’s share of the market.
Slowly, this is changing. Over the coming years, organized retailers will increase their
market share. The country’s manufacturing industry is fragmented, too; most are small
goldsmiths employing just a few people. They are highly skilled though. Cities often
specialize in crafting jewelry out of specific materials, be that gold, silver, diamonds or
pearls. But the sector faces challenges. Small gold manufacturers often struggle to
access gold loans, the jewelry industry struggles to access bank finance, and the
industry suffers from poor infrastructure.

Retail market structure India’s retail jewelry industry is highly fragmented, but this is
changing. Industry participants recognise that there are two parts to the market:
organized and unorganized. Organized retailers are typically characterized by having a
chain of stores with a regional or national presence47 and a strong brand, courting
largely urban customers through sophisticated advertising campaigns. Some, such as
Amrapali Jewels, also have international brands. Retailers in the unorganized sector are
usually smaller, standalone entities, such as small goldsmiths, family jewelers or
designers focusing on high-end products. The majority – around 70% – of India’s
jewelry industry can be categorized as unorganized
 10
There are signs that the shape of the market is changing. Between 2000 and 2015 we
have seen the emergence of more organized participants, with their market share rising
from 5% to 30%. By 2020, it is likely that this share will have risen to between 35%
and 40%. This trend is concentrated in cities, supported by growing urbanization and
increasing awareness of branded jewelry among younger consumers. Regional chains
have taken the lead in increasing market share, but some national retailers have also
emerged, But the unorganized sector remains the major force in jewelry retailing
across India. Local standalone family jewelers continue to dominate rural centers, not
least as they fulfill several roles, including in some instances acting as bankers. This
role aside, there is also a clear demarcation between the market segment catered for by
standalone retailers and that catered for by regional and national chains. 1.3.1
Manufacturing market structure

Jewelry manufacturing is also highly fragmented, but this is changing. Even

though India is one of the foremost jewelry fabricators in the world, its manufacturing
facilities are largely unorganized. Barely 5%–10%58 of units operate as organized,
large-scale facilities – ten years ago these would have hardly existed. The vast
majority of the industry is characterized by small workshops, each typically employing
two to four goldsmiths. This is reflected in the fact that between 60% and 65% of
jewelry manufactured in India is handmade. This figure was much higher a decade ago
– the rise of manufactured jewelry has led to the drop-in share of handmade jewelry.
One of the key reasons that jewelry manufacturing remains largely unorganized is the
relatively low capital requirements of small workshops. Rarely do they own the gold
on which they work. Instead, they carry out what the industry calls job work for
others.
This is both a strength and a weakness. The artisan, bespoke nature of the handmade
jewelry allows the karigars to produce beautiful, intricate pieces which are not possible
with machine-made jewelry. But it also means the sector suffers from a lack of
transparency. This makes it difficult for banks to lend and goes some way to explaining
the lack of readily available capital, which would be required for a manufacturer to
develop its workshop or factory and recruit more employees. Growth in organized
manufacturing over recent years has owed much to the growth in exports and the
requirements of the organized retail sector. International buyers, for example, have
strict procurement policies which rule out
many of the smaller workshops. Orders from overseas and domestic organized
retailers are often large and manufacturers need to be of a certain size in order to fulfill
them.
11
Therefore, growth in the organized retail sector and in India’s jewelry exports has
supported the development of the organized manufacturing sector.

1.3.2Regions Specialise in Producing Different Types of Jewellery

Jewelry manufacturing in India is highly concentrated. Around 60%59 of the gems and
jewelry industry is centered around Mumbai, Kolkata and New Delhi. The majority of
jewelry manufactured in these locations is sold outside these cities, either nationally or
internationally. As jewelry tastes and preferences di ffer across the country, so do
manufacturing skills and expertise. Regions specialize in producing specific types of
jewelry. Jaipur in Rajasthan has a world-class reputation for producing jewelry with
semi-precious stones and gems; Hyderabad has a tradition in pearls going back
centuries, so much so that it is known as the City of Pearls; similarly, Surat in Gujarat
is known as Diamond City.
 12
1.4 Future Ahead

In the coming years, growth in the Gems and Jewellery sector would be largely
contributed by the development of large retailers/brands. Established brands are guiding
the organized market and are opening opportunities to grow. Increasing penetration of
organized players provides variety in terms of products and designs. Online sales are
expected to account for 1-2 percent of the fine jewelry segment by 2021-22. Also, the
relaxation of restrictions of gold import is likely to provide a fillip to the industry, the
improvement in availability along with the reintroduction of low-cost gold metal loans
and likely stabilization of gold prices at lower levels is expected to drive volume growth
for jewelers over the short to medium term. The demand for jewelry is expected to be
significantly supported by the recent positive developments in the industry.
1.5 Haldwani Gold Market

Haldwani has come a long way from being a market for the people visiting the Himalayan
foothills. Purchasing gold over the counter from a jeweler or a bank is the preferred way
to own gold in Haldwani, despite the slightly higher cost from banks which charge for
hallmarking and certification. It is the most trusted way to own gold, as the gold is
physically transferred from the seller to the buyer, who can then do as he/she pleases with
the gold – hold it as an investment, sell it when the price is favorable, etc.Haldwani,
mainly Gold is consumed in the form of jewelry and ornaments. There are several large
and small gold dealers in Haldwani, forming the backbone of the good local gold market.
Thirst and demand for gold is highly increasing every day in Haldwani. Prices tend to
peak around January/February When the wedding season is in full bloom while
October/November generally brings surges to gold rates owing to major festivals and
wedding seasonal demand. Gold jewelleries are generally priced higher than bullions as
they include various costs including workmanship charges. Prior to GST, total tax and
duties on Gold Rate in Haldwani are nearly 12.4%. After the implementation of GST, tax
on gold rate marginally increased to approximately 14%.

13
1.6 Problem Statement

The unorganized sector in the gold market of India holds a significant amount of market
share in this industry.With the recent rise in the share of organized sector in the gold
market, traditional retailers are facing a big problem of attracting the customers. It is
very important to understand the condition of unorganized retailers in changing
dynamics of the gold market. This project tries to understand the present status,
problems and prospects of unorganized retailers in Haldwani region of Uttarakhand.

1.7 Limitations of the study

 ⮚ The first limitation of the study is time constraint. The time that was allotted for
the project was 45 days, so we were supposed to select the sample size that can
be representative of the total population. The data collected for the sample
holds true for the sample that was selected and its generalization to the larger
population may not hold true.
⮚ Research was carried out in a given time-period so the data that was collected
can be representative only for that time-period. Extrapolation of that data to
future times may not hold true.

1.8 PARSHURAM JI ECOMM PVT. LTD.

‘Parshuram Ji jewelers’ was the first jewelry house started by Mr. Rajat Gaur, who is
an engineering graduate from MIT, Manipal. Since then it has reached new heights in
wholesaling. His dedication transformed the jewelry business into a more consumer
friendly system that led him to introduce India’s first B2B jewelry ecommerce
platform, “Buy My Jewels” the first B2B jewelry ecommerce platform. Buy my jewel
aims at developing a coherent system that will provide them a wide array of various
jewelry designs and benefit the end user. BMJ is powered by an experienced and
passionate team of professionals with more than 10 years of experience in the
wholesale and retail jewelry market.

Ms. Shuchi Gunwant a major in marketing and promotions from SIIB, Pune is the
co-founder of the company and its valuable assets. Her exposure in different
marketing segments and vision consolidated a strong strategic structure of Buy My
Jewel. Mr.
Bhupendra Kapure with his major as supply chain management and his engineering

14
A graduate in IT an alumnus ofSIIB, Pune, with more than 14 years of experience, he
has worked with VW group, SuzlonEnery, and his experience in logistics and
purchasing has helped in shaping Buy My Jewelinto the most cost-e ffective jewelry
platform in India.

Ajay Agarwal ji of the well known “Agrawal jewelers” is one of the prominent
contributors toBuy My Jewel with their customer centric products along with rapid
manufacturing of distinct design and techniques. Since their inception in the year 2003
with the motto of delivering the finest and the best quality products trickles to the bone
of BMJ, they enjoy a prominent grade position among the leaders in the jewelry
sector.
Their past experiences in this sector have guided BMJ and made it easy for the
company in a crowded field of closely fought battles.

Company vendors: Mr. Pawan Gupta and Mr. Ashish Mittal together with the inhouse
team of BMT designers & craftsmen have helped in building trust and a strong
foundation of a lifelong relationship with valued retailers and customers.

15
Chapter 2

ReviewofLiterature

In the changing scenario, gems and jewelry products exported to various countries
form a part of life styles in the global market. The e ffect is due to the changing fashion
and consumer preference. In view of this, it is high time that the Indian gems and
jewelry sector went into the details of changing design, pattern, product development,
requisite change in production facilities for a variety of materials, production technique
and related expertise to achieve a leadership status in the fast growing competitiveness
with other markets.
Gems and Jewellery IBEF report (2017) analyzed some positive and negative factors
by the “porter's five forces framework analysis” through which the findings were that
the gems and jewelry sector has no threat of substitutes that can be used for the same
purpose but the competitive rivalry in this sector is very high as there are a large
number of players with similar products and the consumer don’t have a switching cost.
The threat of new entry is very low and so is the bargaining power of suppliers.
According to study ofG. Thomas (2017) customer service and promotional events
played a major part in influencing the selection of a jewelry shop. There was
absolutely no relationship between the promotional events and buying behavior of the
consumers. However, satisfaction of the consumers was a significant factor to influence
brand preference.
According to Bose C., 2011 India’s gems and jewelry industry is vastly unorganized
and 90% of the players have family owned businesses. However, the organized sector
is also increasing. Even though the growth is slow, in future it is likely to cover a
major share of the market due to the change in lifestyle and preference of customers.
The unorganized sector hampers the ability of the Indian gems and jewelry industry to
emerge as a world- class supplier.
According to a study of FICCI (2017), the gold processing industry has around
15,000 players, with only 80 units having revenues over US $ 5 million. India is also
home to around 450,000 goldsmiths, over 100,000 gold jewelers along with about
6,000 diamond-processing players and 8,000 diamond jewelers.
Demand for consumption and investment is affected by several challenges.
While challenges in talent and skill development, research and technology
adoption, and

16
limited financing options are core to players catering to the consumption demand for
jewelry, an increasing investment demand with limited supply infrastructure a ffects the
investment side of the market. High import dependence and regulatory curbs impact
both consumption and investment demand of the market (NSDC report, 2009).
K. Balanaga Gurunathan and S. Muniraj (2012) investigated Impact of Customer
awareness and buyer Behaviour on Buying Jewellery Products–Special Reference to
Tamil Nadu State. 100 respondents were interviewed with the help of a questionnaire.
Various factors were identified under two categories like: Customer Awareness
Variables and Consumer Behaviour Variables and Reliability test was conducted and
validated. Hypotheses developed were tested by correlation tests. Findings showed that
there was a significant relationship between customer awareness and behavior in Tamil
Nadu.
G. Srinivasan (2012)revealed the industry scenario when there was an increase in
duties and levies on Gold in the budget. In the Budget, the Finance Minister levied the
basic customs duty to 1 per cent excise on branded jewelry to unbranded jewelry too
and platinum bars from 2 per cent to 4 per cent and on non-standard gold from 5 per
cent to 10 per cent. The customs duty on gold ore/concentrate and ore bars for refining
was increased from 1 per cent to 2 per cent. Bullion trade bodies across the country
protested by downing shutters continuously for three weeks incurring an estimated loss
of Rs.20,000 crore to business and also causing a revenue loss to the exchequer of
Rs.700 crore. Representatives of jewelers and bullion traders met the Finance Minister
to press for a rollback of the excise duty on unbranded jewelry. As a result of this,
jewelers began selling jewelry without a brand name.
Dr. Bhushan; D. Sudhakar and Arun Kumar. Parise (2012) investigated Indian
consumer migration towards Luxury brands from value middle tier brands. Descriptive
research method is used to explore different dimension factors which a ffect consumer
preference for brands. Face – to – face Interviews were conducted with a sample of
100 respondents with help of a structured questionnaire in Chennai city. This
research is special as many studies concentrate on changing consumer behavior trends
while this study is all about migration of consumers from middle tier brands to luxury
brands. Analysis was done by using both descriptive as well as factor analysis and
multivariate analysis. The findings suggest that there is a significant di fference with the
gender difference, social status, price, and quality of purchasing a luxury good.

17
Urvashi Soni-Sinha (2011) examined the gendering of jewelry production in the
villages of Medinipur, West Bengal, India. The jewelry (primarily hand-woven silver
chains) is marketed nationally and internationally and the villages are linked to the
domestic and the global markets through a series of subcontractors. The paper is a
critical analysis and deconstruction of the gendered division of labor where women's
work in chain-weaving is constructed as ‘leisure activity’, requiring little training and
carried out at home. The women are rendered invisible as workers through the
discursive practices of control over their sexuality, restricting their mobility
geographically and in the job hierarchy, and earn a low average wage of INR 1.35/hour
for chain-weaving. Men engage in the soldering and finishing of chains, which is
constructed as ‘tough’, requiring long training, carried out in the visible spaces of the
workshops and are paid an average wage of INR 5/hour. The discourses feed into the
subjective identities of men as bread-winners and constitute women as housewives.
However, women challenge the construction of chain-weaving as ‘leisure’. In their
affirmation of chain-weaving as ‘work’ they present a fragmentation to their subjective
identities as housewives and navigate their paradoxical situation; an ambivalence
created by what they do, how they view what they do and how they are viewed in
doing it. In addition, some women cross the gendered division of labor and engage in
soldering, thus challenging its construction as particularly ‘tough’ for women.
Although how this disruption is currently negotiated mutes its resistive e ffect, the fact
of it has created new discursive practices by which the crossing of the gendered divide
is achieved.
V. Vijay Durga Prasad (2010) examined the role of Hallmarking in curbing the
cheating on cartage of gold jewelry. A study was carried out to understand the
perception of customers purchasing gold ornaments and their awareness levels on the
concept of hallmarking. Though the Government of India in April 2000 introduced
voluntary hallmarking of gold jewelry through the Bureau of Indian Standards most of
the jewelers are selling partial stock with hallmark. Questionnaire was administered to
a random sample of 285 respondents from Vijayawada city in Andhra Pradesh. Cross
Tabulation, Chi-Square Test for testing of Independence between two attributes.
Suggestions were offered to create more awareness among customers as findings
revealed that few were aware about BIS Hallmarking.
Anu Singh Lather and Puja Khatri (2011), the board members of the Titan
Industries, Bangalore carried out a research to find the potential of semi-urban and
rural markets for their brand ‘Tanishq’ which was considered as ‘Not for Me’ Brand

18
from semi-urban and rural markets. The outcome was “Gold Plus'', a concept
presented in one of the Future Shocks in 2004-05. “Future Shock,” in which
middle and senior management of the Titan Industries present future business
opportunities to a jury. Based on the recommendations of the jury and evaluation by
the board, the company evaluates the opportunities. The consequence was GoldPlus
was launched at Bhimavaram and at15 places across Tamil Nadu, Madhya Pradesh,
Andhra Pradesh, and Maharashtra and has received resounding acceptance from the
consumers.
Padma Srinivasan and R Subramaniam (2008)explored the risk factors that
influence the gems and jewelry business in Bangalore and the practices of family
based jewelers and branded retailers. The sample consisted of 190 family-based
jewelers and 10 retailers were observed for a period of three years from 2004-07.
Various risks like Geographic Concentration Risk, Raw Materials Risk–Gems and
Gold, Debtors’ Risk, Seasonality Risk, Labour Risk, Wastage Risk, Financial Risk are
studied with Risk Management Practices. It concludes with SWOT analysis and
suggestions for jewelers with help of collaboration and technology. According to
Rian Raghavjee (2005), different people from different regions of the world have
different reasons for purchasing different types of products. This paper explores how
India, Asian markets, Italy, Turkey behave towards gold jewelry consumption. Rian
explains how Turkish people like to invest in gold jewelry rather than gold. The
Turkish market is also the tourist market. Italy has remained at the forefront of the gold
jewelry industry. The Italian Renaissance coincided with the discoveries of the New
World sources of gold, and wealthy Italian patrons encouraged goldsmiths as they did
painters and sculptors. Italian designs are the most sought after in the US market. The
author observes how in India festival campaigns created 30 tonnes of fine gold
demand in a single day in the month of April. Markets are segmented based on priority
to link the consumer proposition with a product or brand image.
Hari Chauhan (2005) explored the love for jewelry by the Indian woman. The
research highlights how jewelry serves as adornment as well as financial security. The
Indian woman has always been very creative in her expression of jewelry and design.
In keeping with India's rich heritage of diversity, jewelry also takes on regional
nuances. It is the ultimate and most-personal expression of region-specific culture and
art of lifestyles and heritage. It draws inspiration from architecture, dance and even
religious customs. The paper describes the traditional jewelry worn by the women of
Pabbar valley of Himachal Pradesh, one of the northern states of India.

19
Manufacturers manufacture specific types of gems and jewelry products according to
the market demand. But due to a change of trend, demand for that type of product starts
decreasing and eventually it finishes. This situation blocks the manufacturer’s capital
and the huge stock is collected. The producers give the stock to the brokers for selling.
The consumer reduces the cost of production to half in this condition: the sellers don’t
sell their items under the cost of product (Kumar N., 2013)
Exporters in the gems and jewelry industry fall victim to the problem of not being able
to fulfill the demand of products. They also fill the absence of any professional
organization or government counter, so that they may purchase raw material of gems
and jewelry according to their necessities. Export is an essential hardship (S. Madhavi
and Rama Devi T., 2015).

20
Chapter 3

Objectives and Research Methodology

3.1 Objectives of the study
 ⮚ To construct a detailed map of the organized and unorganized
jewelry retail outlets in Haldwani region of Uttarakhand.
⮚ To determine the catchment area of retailers in the Haldwani Region ⮚
To explore and examine the existing buying patterns of retailers in Haldwani
region of Uttarakhand
⮚ To explore and examine buying behavior of consumers in gems
and jewelry market in Haldwani region of Uttarakhand.

3.2 Operational definition

⮚ For the purpose of study Catchment area means those places
from where the consumer visits this jewelry retail outlet

⮚ Retailers For the purpose of study are the players of the

unorganized sector selling gems and jewelry to the
customers

3.3 Research Methodology

The major purpose of descriptive research is description of the as it exists at
present. In social science and business research we quite often use the term Ex
post facto research for descriptive research studies. The main characteristic of
this method is that the researcher has no control over the variables; he can only
report what has happened or what is happening.

ObservationalMethod animal and human behavior is closely

observed. There are two main categories of the observational method —
naturalistic observation and laboratory observation.

Case StudyMethod involves an in-depth study of an individual or

group of individuals

Survey Method In survey method research, participants answer

questions administered through interviews(Face-to-Face questionnaires.
After participants answer the questions,researchers describe the
responses given.

21
POPULATION– The retailers of Haldwani gold market were taken as the
universe/population for the undertaken project.

DATA COLLECTION- Primary data

PRIMARY DATA– Primary data is the data which is used or collected for the
first time and it is not used by anyone in the past. There are a number of sources
of primary data from which the information can be collected. We took the
following resources for our research.

QUESTIONNAIRE – This method of data collection is quite popular,

particularly in case of big enquiries. Here in our research we set simple questions
and requested the respondents to answer these questions with correct
information.

RESEARCH DESIGN- Descriptive research design has been used to

conduct the research of the undertaken project.

SAMPLE PLAN

SAMPLE SIZE- Keeping in mind all the constraints the size of the sample
of my study was selected as 48

SAMPLING TECHNIQUE – Random sampling method is used to collect

the data through self-administered questionnaires.

SAMPLING DESCRIPTION– In order to understand the nature and

characteristics of various respondents in this study, the information was collected
and analyzed according to their socio-economic background like education,
occupation, age, gender etc. Thisdescription shows that these respondents that
have been included in the study belong to different backgrounds and this in turn
enhances the capability and accuracy of the study.

Sampling technique & Sample Size

The sampling technique used in this study is lottery method

The study population of the study was 155 out of which a sample of 48 was
taken the level of confidence is 90% with a margin of error of 10% the sample
size was calculated byCochran’s Sample Size Formula.

Where: e is the desired level of precision (i.e. the margin of error),

22
p is the (estimated) proportion of the population which has the
attribute in question, q is 1 – p.
 value of z in 90% LOC is 1.64

3.4 Method and Approach of The Study

Phase I- Company visit was planned and executed for gathering information from the
manager of the company, PARSHURAM JI ECOMM PVT. LTD. An initial mapping
was conducted in Haldwani market to map the gold retailers and identify our study
population.During mapping the researchers also used observation techniques to
observe various insights (size of shop, no. of workers, counter size, items in display
and size of the locker). This observation was later used to segment the retailers into
small, medium and large sized retailers.Various literature was closely studied for better
understanding of the market.

Phase II – Expert opinion was taken from various delegates of the sarafa market
which consisted of the President, Vice-President and some gold retailers. Keeping
in the mind the insights received from the expert opinion a structured questionnaire
was designed

Phase III – Pilot testing was done on ten retailers in Haldwani market.

Phase IV – After the proper evaluation of the pilot testing insights the final
questionnaire was designed and converted to Hindi language for better understanding
of retailers.

Phase V – With the final questionnaire Haldwani market was covered.

Phase VI – The questionnaire was coded by the researchers and then an excel sheet of
coded data was made. Open-ended questions were changed into options by clubbing
various similar responses under one head.

Phase VII –Data was then represented in the form of pie charts and
graphs. Percentage method was used in representing data.

23
Chapter 4.
24
 Data Analysis andInterpretation

Table 4.1 No of retailer registered in GST

No of retailer registered in GST Percentage (%) Yes 84

No 16
Not Answered 0
TOTAL 100

Chart 4.1 No of retailer registered in GST

No of retailer registered in GST

No
16
%

Ye
s
84
%

INTERPRETATION 4.1: From the above graph 84% of the respondents were
registered with GST and 16% of the respondents were not registered with GST.
25
Table 4.2 BIS Hallmark registered retailer
BIS Hallmark registered retailer Percentage (%) Yes
23 No 40
Not Answered 37
TOTAL 100

Chart 4.2 BIS Hallmark registered retailer

BIS Hallmark registered retailer

Yes
Not Answered 37% 40%
23%

No

INTERPRETATION 4.2: From the above graph 40% of the respondents were not
registered in BIS hallmark, 23% of the respondents registered with BIS hallmark, 37%
were not answered.

26
Table 4.3 Internet Usage showcasing design to customer
 Internet Usage showcasing design to customer Percentage (%) Yes 72%
No 27%
Total 100%

Chart 4.3 Internet usage showcasing design to customer

Internet usage showcasing design to customer

No
27
%

Yes
73%

INTERPRETATION 4.3: From the above graph 72% of the respondent responded yes
to use of internet and 27% responded no

27
Table 4.4 Android usage
Android usage Percentage (%)
Yes 45
No 55
 Total 100

Chart 4.4 Android usage

Android usage

Yes
No
45%
55%

INTERPRETATION 4.4: From the above graph 45% of the respondents in Haldwani
use android.

28
Table 4.5 Buying Season
Buying season Percentage (%)
Bridal 74
Diwali 18
Akshaya Tritiya 8
Total 100
Chart 4.5 Buying Season
Buying season

Akshaya
Tritiya 8%
Diwali
18%

Bridal
74%

INTERPRETATION 4.5: From the above graph it can be seen that 74% of the
individuals ranked bridal as the highest selling season,for 18% of the individuals
diwali was the highest selling season and for 1% for the respondents akshaya tritiya
was the highest selling season

29
Table 4.6 Youth Jewelry demand
Jewelry demand Percentage (%) Youth Bridal Occasional
Traditional 20 66 24 Fancy 80 22 61 Mix 0 12 15 Total 100 100 100

Chart 4.6 Youth Jewelry demand

Jewelry demand
 80

70

60

50

40

Fancy; 22
30 20
Fancy; 80

Traditional; 24

Traditional; 66
Mix; 15
Traditional; 20

Fancy; 61
1 0
Mix; 12
0
Mix; 0

Youth Bridal Occasional

INTERPRETATION 4.6
Youth - From the above pie chart 20% of the youth demand traditional whereas 80%
of the youth demands for fancy jewelry
Bridal – From the above pie chart it can be seen that 66% of the customers demand for
traditional jewelry during the bridal season and this percentage is 22 and 12 for fancy and
combination of the two respectively.
Occasionally - From the above pie chart it can be seen that 61% of the population
demands for fancy jewelry and 24% for traditional and 15%demands for a mix of the two
in occasional buying.

30
Table 4.7 Most demanded jewelry during bridal season
Most Demanded Jewellery (Bridal) Percentage (%) Ponchi 52
Nath 31
Haar 7
Mangal Sutra 5
Tops 3
 Mangtika 2
Total 100

Chart 4.7 Most demanded jewelry during bridal season

Most Demanded Jewellery (Bridal)
3%
Mangal Sutra
5%
Mangtika 2%

Haar 7%
Tops
Ponchi
52%

Nath
31%

INTERPRETATION 4.7: From the above pie chart it can be seen that 52% of the
respondents said ponchi is the highest demanded item followed by nath at 31%. 7% of
them sold haar and 5%of the respondents said mangal sutra was highest sold .3 % for
tops and 2% of them sold mangtika

31
Table 4.8 Most demanded jewelry during diwali season
Most Demanded Jewellery (diwali) Percentage (%) Coin Mix
44 Silver coin 39
Chain 5
Murti 5
Gold coin 3
Payal 2
Utensil 2
 Total 100

Chart 4.8 Most demanded jewelry during diwali season

Most Demanded Jewellery (diwali)
Payal 44%
2%
Gold coin
3%
Utensil 2%
Chain 5%
Murti 5%
Coin Mix

Silver coin
39%

INTERPRETATION 4.7: From the above pie chart it can be seen that 44% of the respondents said
that coins mix are 1 most demanded item ,39% said silver coin 5%said utensils ,chains are top demanded
3% said murti .2% of the respondents said payal and gold chains

32
Table 4.9 Most demanded jewelry during Akshaya Tritiya
Most demanded jewelry (Akshaya Percentage (%)
Tritiya)

Gold item 33
Rings 20
Gold coin 20
Nose pin 13
Murti 7
Silver coin 7
Total 100
 Chart 4.9 Most demanded jewelry during Akshaya Tritiya
Most demanded jewelry (Akshaya Tritiya)

Silver coin
Murti
7%
Gold item
Nose pin 33%
13%

Gold coin
20% Rings
7% 20%

INTERPRETATION 4.9: From the above pie chart it can be seen that 33% of the
respondents said that gold coins are 1 most demanded jewelry ,20% said nose pin and
rings ,7% said murti and silver coins are the top demanded

33
Table 4.10 Most demanded jewelry during occasional buying
Most demanded Percentage (%)
jewelry (occasional)

Chain 63
Tops 17
Ponchi 4
Silver coin 4
Rings 4
Ear rings 4
Payal 4
 Total 100

Chart 4.10 Most demanded jewelry during occasional buying

Most demanded jewelry (occasional)

Rings
Payal 4%
Ear rings
4%
4%
Silver

4%
coin 4% 17%
Ponchi
Chai
n
Tops 63%

INTERPRETATION 4.10: From the above pie chart 63% of the respondents said
chains are the 1 most demanded item 17% said tops 4% said tops silver coin rings and
earrings and payal are the highest demanded

34
Table 4.11 Highest selling inventory
Highest selling item Percentage (%) Ponchi 31
Nath 20
Ring 20
Tops 17
Payal 12
Total 100

Chart 4.11 Highest Selling inventory

Highest selling item
 Paya
11% l 32%
Tops
17%

Nath
Ring 20%
20%
Ponch
i

INTERPRETATION: From the above table and pie chart 32% respondent claimed Ponchi
as the highest selling item followed by Nath, Ring, Tops and Payal with 20%, 20%, 17%
and 11% respectively.

35
Table 4.12 Making Charges (customers)
Making Charges (customers) Percentage (%) 1%-5%
35 5%-10% 45
10%-20% 20
Total 100

Chart 4.12 Making Charges (customers)

Making Charges (customers)
 (10%-20%)
20% 45%
(1%-5% )
35%

(5%-10%)

INTERPRETATION 4.12: From the above table and graph 35% of the respondents
charge 1 to 5 percentage for making charges,45% charge 5to 10 percentage and 20%
charge 10 to 20 percent

36
Table 4.13 Design
Selection Design selection Percentage (%)
From retailers in stock 54
Customer bringing design from internet 5 Retailer making a
customer choose from catalog 14
Retailer arranging some stock onrequirement
approval from a local 27
wholesaler as per customer
 Total 100

Chart 4.13 Design Selection

Design selection

local
wholesaler
27%
in
stock
54%
catalog
14%

interne
t 5%

INTERPRETATION 4.13: From the above table and pie chart 54% of the
respondents preferred selecting the design via from retailer’s in stock 5% preferred
bringing their own design from internet 14% preferred making a customer choose
from catalog and 27% preferred arranging some stock on approval from a local
wholesaler as per the customer requirement.

37
Table 4.14 Availability of items
Availability of items Percentage (%) Always
22 Often 40
Quite less 38
Total 100
Chart 4.14 Availability of items
Availability of items

Always
Quite less 38%
22%

Often 40%

INTERPRETATION 4.14: From the above table and pie chart it can be seen that
amongst 22% of the respondent’s ready items were available always 40% said ready items
often available and 38 % responded that ready items were very rarely available

38
Table 4.15 Type of Sale
Type of Sale Percentage (%) ff shelf 51
On order 44
Both 5
Total 100
Chart 4.15 Type of Sale
Type of Sale

Both
5%
44%
Off shelf
51%
On order

INTERPRETATION 4.15: From the above table and pie chart it can be seen that 44%
of the sales are on order, 51% on shelf whereas 5 % are a combination of order and on
shelf sales in Haldwani.

39
Table 4.16 Type of Billing
Type of Billing Percentage Tally
7% ERP 2%
Manual Billing 91%
Total 100%

Chart 4.16 Type of Billing

 Type of Billing
ERP
2% 91%

Tally 7%

Manual Billing

INTERPRETATION 4.16: From the above table and pie chart it can be seen that 7%
of the respondents use tally 2% use ERP and 91% use Manual Billing

40
Table 4.17 Purity of Gold
Purity of Gold Percentage 18k 38%
22k 31%
23k 5%
 24k 26%
Total 100%

Chart 4.17 Purity of Gold

Purity of Gold

(24k)
26%

(23k)
(22k)
5%
31%
(18k)
38%

INTERPRETATION 4.17: From the above table and pie chart it can be seen that 38% of
the respondents deal with 18K 31% deal in 22k , 26% of the respondents deal with 24k and
5% deal with 23k

41
Table 4.18 Delivery
mode Delivery mode Percentage
You go and pick your own inventory 42% Consignment delivered by
the wholesaler to your shop 19% Some supplier bringing it at your
doorstep
39% Total 100%

Chart 4.18 Delivery mode

 Delivery mode
inventory
42%

delivered by
wholesaler
supplier at doorstep 19%
39%
pick your own

INTERPRETATION 4.18: From the above table and pie chart it can be seen that
42% go and pick their own inventory 19% consignment delivered by the wholesaler at
their shop and 39% supplier bring it at their doorstep

42
Table 4.19 Collaboration with other retailers
Collaboration with other retailers Percentage (%) Yes
44 No 56
Total 100

Chart 4.19 Collaboration with other retailers

Collaboration with other retailers

Yes
 No 44%
56%

INTERPRETATION 4.19: From the above table and graph 44% of the respondent’s
collaboration for small order and 56% said no they do not collaboration for small order

43
Table 4.20 Preferred buying mode
Preferred buying mode Percentage
(%) Credit 48%
Cash 45%
Both 7%
Total 100%

Chart 4.20 Preferred buying mode

Preferred buying mode

Bot
h
7%

Credit

Cash 48%
 45%

INTERPRETATION 4.20: From the above table and pie chart it can be seen that
48% of the respondents use credit 45% use cash and 7% use both credit and cash

44
Table 4.21 Consignment Size
Consignment size Percentage (%) Below 50 Gram
26 50-100 Gram 22
100-500 Gram 22
500-1000 Gram 15
Above 1000 Gram 15
Total 100

Chart 4.21 Consignment size

Consignment size

Above
1000 Gram
15% 15%
Below 50 Gram 26%
500-1000
Gram
 50-100 Gram

22% 100-500 Gram

22%

INTERPRETATION 4.21: From the above table and graph it can be seen that 26% of
the respondent’s consignment size is below 50 gram 22%consignment size 50- 100
gram 22%consignment size 100-500 gram 15%consignment size 500-1000 gram 15%
consignment size above 1000 gram

45
Table 4.22 Ready Stock during peak season
Ready stock during peak season Percentage (%)
Yes 60
No 40
Total 100

Chart 4.22 Ready Stock during peak season

Ready stock during peak season

No
40
%
Yes
60%
 INTERPRETATION 4.22: From the above table and graph it can be seen that 60% of
the respondents keep ready stock while 40% of the respondents do not keep ready
stock

46
Table 4.23 Restocking during peak season
Restocking during peak season Percentage (%) Very Frequent
53
Often 47
No, we have ready stock
0 On order 0
Total 100

Chart 4.23 Restocking during peak season

Restocking during peak season
 Very Frequent 53%

Often 47%

INTERPRETATION 4.23: From the above table and graph it can be seen that 53% of
the respondents very frequently restock and 47% often restock while 0% keep ready
stock and on order

47
Table 4.24 Problems during purchase from wholesaler
Problems Percentage (%)
Transit Risk
63 Delay on
Order 9
Larger transit charges for small order 0 Unavailability of
small order 0
Deviation in the pattern design order 9 Others than specify
19
Total 100

Chart 4.24 Problems during purchase from wholesaler

charges for
small order
Larger transit
 0%
Unavailability of small
order 0%

Delay on
Order 9%
Deviation in
the pattern 19%
design order
9%
Problems Transit Risk
63%

Others

INTERPRETATION 4.24: From the above table and graph it can be seen that
63% of the respondents have transit risk of delivery of order 9% have problems in
delay on order 0% have problems in large transit charges for small order 0% have
problems in unavailability of small order 9% have problems in deviation in the pattern
design order and 19% have other problems

48
Table 4.25 Catalog update
Catalog update Percentage (%) very frequently 73
within two years 15
2 to 4 years 12
more than 4 years 0
Total 100

Chart 4.25 Catalog update

 Catalog update
more than 4
years
0% 73%

within two years

15%

2 to 4 years
12% very frequently

INTERPRETATION 4.25: From the above table and graph 73% of the respondents
update catalog very frequently 15% of the respondents update within two years 12% of
the respondents update catalog in 2 to 4 years and 0% of the respondents update catalog
in more than 4 years

49
Table 4.26 Attaining
Catalog Attaining Catalog Percentage (%)
Catalogs are provided by wholesaler 15
Photo shoot is done by retailer
40 others 45
Total 100

Chart 4.26 Attaining Catalog

Attaining Catalog
 Provided
by
wholesaler
15%

Other
45%
Photo shoot
by retailer
40%

INTERPRETATION 4.26: From the above table and graph it can be seen that 15% of
the respondents buy their catalog from wholesaler 40% of the respondents photo shoot
for their catalog and 45% of the respondents said other (either use internet or does not
have catalog)

50

Table 4.27 Enhancement in Competition due to Arrival of Branded Stores

Competition on Brand Arrival Percentage (%) Agree 44
Neutral 16
Disagree 40
Chart 4.27 Enhancement in Competition due to Arrival of Branded Stores

Competition on Brand Arrival

44%

Neutral
16%
Disagree 40%
Agree

INTERPRETATION 4.27: From the above graph and table it can be seen that ,44%
of the respondents agree that entrance of branded sections in the jewelry market has
increased the competition in the market ,40% of the respondents disagree with the
above statement. 16% of the respondents are neutral.

51
Table 4.28 Demand of Hallmark Jewellery Demand of
Hallmark jewelry Percentage (%) Agree 44
Neutral 26
Disagree 30

Chart 4.28 Demand of Hallmark jewelry

Demand of Hallmark jewelry
 Disagree
30% 26%
Agree
44%

Neutra
l

INTERPRETATION 4.28:From the above graph and table it can be seen that ,44%
of the respondents agree that entrance of branded section has bought a positive
response in the sale of the hallmark jewelry, 30% of the respondents disagree to the
above statement,26% of the respondents are neutral.

52
Table 4.29 Awareness Regarding Hallmarking
Hallmarking awareness Percentage (%) Agree 74
Neutral 7
Disagree 19

Chart 4.29 Awareness Regarding Hallmarking

Hallmarking awareness
Table 4.30 Customer Bring Their Own Design Design by
customer Percentage (%) Agree 68
Neutral 9
Disagree 23
Disagree
 19%
Neutral
Chart 4.30 Customer
Bring Their Own Design Neutral
7% 9%

Design by customer
Agree 74%

Disagree

Agree 68%

23%

INTERPRETATION 4.29: From the above graph and table it can be seen that 74% of
the respondents agree that there is an increase in hallmarking awareness in recent years,
19% of the respondents disagree with the above statement,and 7% of the respondents
are neutral.

INTERPRETATION 4.30: From the above graph and table it can be seen that 68% of
the respondents agree that consumers have started bringing their own designs, 23% of
the respondents disagree with the above statement, and 9% of the respondents are neutral.

53
54
Table 4.31 Increase in demand of Fancy Jewelry
Increase in demand of fancy jewelry Percentage (%) Agree 91
Neutral 2
Disagree 7

Chart 4.31 Increase in Demand of Fancy Jewelry

 Increase in demand of fancy jewelry

Neutral
2%
Disagree
7%

Agre
e
91%

INTERPRETATION 4.31: From the above graph and table it can be seen that ,91% of
the respondents agree that in recent years demand for fancy jewelry has increased ,7%
of the respondents disagree with the above statement,2% of the respondents are neutral.

55
Table 4.32 Selection of Design Via Internet Design
selection via internet Percentage (%)
Agree 84
Neutral 5
Disagree 11

Chart 4.32 Selection of Design Via Internet

 Online jewelry usage

Neutral 5%
Disagree
11% Agree 84%

INTERPRETATION 4.32: From the above graph and table 84% of the respondents
agree that usage of the internet for the selection of the design has increased in recent
years,11% of the respondents disagree with the above statement,5% of the respondents
are neutral.

56
Table 4.33 Usage of LED Display of Attracting Customers
Customer’s attraction through LED display Percentage (%) Agree 51
Neutral 14
Disagree 35

Chart 4.33 Usage of LED Display of Attracting

Customers Customer’s attraction through LED
display
 Disagree
35%
Neutral
Agree
14%
51%

INTERPRETATION 4.33: From the above graph and table it can be seen that 51% of
the respondents agree that usage of led display can increase the footfall, thus will lead
to increased sales,35% of the respondents disagree with the above statement,14% of
the respondents are neutral.

57
Table 4.34Mobile Application with Jewellery Design Helps in Serving Customer
Application containing design helps serving customer Percentage (%)

Agree 42
Neutral 5
Disagree 53

Chart 4.34 Mobile Application with Jewellery Design Helps in Serving Customer
Application containing design helps serving customer
 Agree
Disagree 53% 5%
42%

Neutral

INTERPRETATION 4.34: From the above graph and table it can be seen that ,42% of
the respondents agree that an application can help the respondents in the
presentation and the selection of the design ,53% of the respondents disagree with the
above statement,5% of the respondents are neutral.

58
Table 4.35 Event Related to Jewellery Helps in Capturing Customers
Well-advertised event helps capturing customers Percentage (%)
Agree 79
Neutral 2
Disagree 19

Chart 4.35 Event Related To Jewelry Helps In Capturing

Customers Well-advertised event helps capturing
customers
 Neutral 2%
Agree 79%
Disagree 19%

INTERPRETATION 4.35: From the above graph and table, 79% of the respondents
agree that an event can increase the footfall thus will lead to increase in the sale,19%
of the respondents disagree with the above statement,2% of the respondents are
neutral.

59
Table 4.36 Satisfaction Regarding Quality of Gold Provided by Wholesalers
Purity by Wholesaler Percentage (%)
Agree 98
Neutral 2
Disagree 0

Chart 4.36 Satisfaction Regarding Quality of Gold Provided by Wholesalers

Purity by Wholesaler

Disagre
e 0%
Neutral
2%
 98%

Agree

INTERPRETATION 4.36: From the above graph and table, it can be seen that 98% of
the respondents agree that they receive the promised and desired purity of gold by their
wholesalers and they are satisfied with the purity ,2% of the respondents are neutral

60
Table 4.37 Satisfied with delivery time of Wholesalers
Satisfied with delivery time Percentage (%)
Agree 84
Neutral 11
Disagree 5

Chart 4.37 Satisfied with delivery time of Wholesalers

Satisfied with delivery time

Disagree
Neutral 5%
11%
 Agree 84%

INTERPRETATION 4.37: From the above graph and table it can be seen that84% of
the respondents agree that the stock is delivered to them in the promised time ,5% of
the respondents are dissatisfied,11% of the respondents are neutral.

61
Table 4.38 Catalog provided by wholesaler Catalog
provided by wholesaler Percentage (%) Agree 77
Neutral 14
Disagree 9

Chart 4.38 Catalog provided by wholesaler

Catalog provided by wholesaler

Disagree
 Neutral 14%
9%

Agree 77%

INTERPRETATION 4.38: From the above graph and table, 77% of the respondents
are satisfied with the catalog and other informational material provided by the
wholesalers,9% of the respondents are dissatisfied. 14% of the respondents are neutral.

62
Table 4.39 Exact design provided by wholesaler
Exact design provided by wholesaler Percentage (%) Agree 67
Neutral 19
Disagree 14

Chart 4.39 Exact design provided by wholesaler

Exact design provided by wholesaler

Disagree
14%

Neutral
19%
Agree
 67%

INTERPRETATION 4.39: From the above graph and table 67% of the respondents
receive the exact design as ordered by them, 14% of the respondents do get the exact
design as ordered by them, 19% of the respondents are neutral.

63
Table 4.40 Credit facility by wholesaler
Credit facility by wholesaler Percentage (%) Agree 63
Neutral 28
Disagree 9

Chart 4.40 Credit Facility by wholesaler

Credit facility by wholesaler

Disagree
9%
Neutral
28%

Agree 63%
INTERPRETATION 4.40: From the above graph and table 63 % of the respondents
are satisfied with the credit facility provided by the wholesalers ,9% of the respondents
are dissatisfied with the credit facility provided by the wholesalers,28% of the
respondents are neutral.

64
Table 4.41 Vivid design availability with wholesaler
Vivid design availability with wholesaler Percentage (%) Agree 70
Neutral 21
Disagree 9

Chart 4.41 Vivid design availability with wholesaler

Vivid design availability with wholesaler

Disagree
9%
Neutral
21%

Agree
70%
INTERPRETATION 4.41: From the above graph and table it can be seen that 70 % of
the respondents agree to the fact that the wholesalers provide them vivid designs ,9% of
the respondents disagree with the above statement ,21% of the respondents are neutral.

65
Table 4.42 Small consignment by wholesaler
Small consignment by wholesaler Percentage (%) Agree 72
Neutral 23
Disagree 5

Chart 4.42 Small consignment by wholesaler

Small consignment by wholesaler

Disagree
5%

Neutral
23%

Agree
72%
INTERPRETATION 4.42: From the above graph and table, it can be seen that 72 %
of the respondents mentioned that the wholesalers entertain small orders,5% of the
respondents disagree with the above statement,and 23% of the respondents are neutral.

66
Table 4.43 Satisfied with hallmarking quality
Satisfied with hallmarking quality Percentage (%)
Agree 77
Neutral 11
Disagree 12

Chart 4.43 Satisfied with hallmarking quality

Satisfied with hallmarking quality

Disagree
12%
Neutral
11%

Agree
 77%

INTERPRETATION 4.43: From the above graph and table 77% of the respondents are
satisfied with the hallmarking process and system adopted by the government for the
hallmarking ,12% of the respondents are dissatisfied with the hallmarking process,11%
of the respondents are neutral.

67
Table 4.44 Catchment of Haldwani
Catchment of Haldwani Percentage (%) Bhimtal 20
Almora 15
Golapar 20
Nainital 12
Ramnagar 2
Ranikhet 4
Bhujiaghat 5
Kathgodam 11
Halduchor 6
Ramgarh 4
Mukteshwar 1

Chart 4.44 Catchment of Haldwani

Catchment of Haldwani
Mukteshwar
 1%
Almora Naini
Kathgodam 11% 15% t al
Ranikhet 12%
4%
Ramna
Bhimtal Golapar
gar
20%
20% 2%
Halduchaur 6%
Ramgarh 4%

INTERPRETATION 4.44:From the above graph it can be seen that 20% of the
customers are coming from Golapar and the same percentage of customers comes from
Bhimtal ,15% of them come from Almora ,12% from Nainital,11%from Kathgodam and
we have small percentage coming from Ranikhet Ramnagar Halduchaur Bhujiaghat
Ramgarh and Mukteshwar.

68
Chapter 5
5.1 Findings and Conclusion

Most of the catchment of Haldwani market was from Bhimtal and Golapar, which
indicated that major catchment of the market is from the nearby towns. Most of the
respondents were registered in GST while a few were having BIS hallmarking. Retailers in
the market used handmade bills for billing this shows that there is very less scope of billing
software or Tally software. However, the use of the internet to show design to consumers is
very preferred by the retailers which shows the indication of adoption of technology after
digitalization.

Most preferred ways for design selection among consumers in Haldwani was via samples
available in stock and it was observed that customers also tended to bring their own design
from the internet and catalogs were used to choose from among customers. Customers
inHaldwani market bring their own design as compared to the past which points out that
there
is a complex buying behavior among consumers for purchasing gold items.

Bridal season is the major season for sale of gold in Haldwani market followed by Diwali and
Akshaya Tritiya respectively. Top items demanded in Bridal season were Ponchi and Nath, In
Diwali season Murti and gold coins, while in occasional buying rings and tops were the top
demanded items.

Retailers in Haldwani market prefer to go and pick their own inventory as compared to being
delivered by wholesaler due to transit risk.Collaboration for small orders is not a trend in
Haldwani market. Retailers in Haldwani deal in credit more as compared to cash. The average
consignment size which the retailers buy in Haldwani consist of majorly below 50 grams.
Availability of items with the retailers in Haldwani is quite high as they keep ready stock at
the display for consumers to select from and restock frequently.Trend of updating the catalog
is very frequent in Haldwani market.

Retailers in Haldwani market feel that competition has increased with the arrival of brands.
Majority retailers agree that there is a fall in their customer base after the arrival of brands
due to increased awareness about hallmarking which resulted in an increase of hallmark
jewels.There is also a rise in demand for fancy jewelry in the market.

Retailers in Haldwani market strongly agree that the use of led display for presentation of
design will help increase in sales, while disagree on the use of application containing design.
Retailers also agree that the well-advertised events help in capturing customers.

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Purity and hallmarking provided by the wholesaler is satisfactory for the retailers, and are
also satisfied with delivery time of the order by wholesaler

Availability of exact and vivid designs along with catalogs and other information provided by
the wholesaler in Haldwani market are satisfactory. Small order consignments are entertained
by the wholesaler.

5.2 Suggestions
For the unorganized sector to capture more or sustain current market cap need to adopt
hallmarking items.Retailer to increase their catchment area need to implement promotional
strategies.Better billing rather than handmade bills will increase transparency between
consumers and retailers which will increase in better consumer servicing experience. Display
items, E-catalogue, Vivid design, Skilled workers, and Infrastructure should be available with
the retailer to compete with the branded retailers. More awareness programs or events should
be organized about the purity of the gold and carats.

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Bibliography

NSDC report- http://www.nsdcindia.org/sites/default/files/files/Gems-Jewellery-2009.pdf

Kumar N., “Problems and prospects of India’s export of gems and jewelry,
Kurukshetra university, 2013, 10-50.

S. Madhavi and Rama Devi T., “Problems of Indian jewelry industry”, International Journal
of Management Research & Review, 5(8), 2015, 623-628.

Hari Chauhan. (2005). Indian Journal of Traditional Knowledge, Vol. 4(2) pp. 118-126
Rian Raghavjee (2005). AngloGold Ashanti Ltd, Paul Walker, GFMS Ltd, Nick Speyer, UNO
A ERRE Italia SpA, Report on Panel Discussion: Has Jewelry Turned the Corner? The LBMA
Precious Metals Conference, Johannesburg, 61- 68

Padma Srinivasan, R Subramaniam (2008). Risk Management Practices Among the Gems and
Jewellery Dealers in Bangalore. The ICFAI University Journal of Risk & Insurance, Vol. V,
No. 3.

Anu Singh Lather, Puja Khatri (July - September 2011). Tata Gold Plus: The Success Story of
the ‘Nano’ of the Jewellery Market. VIKALPA • Volume 36 • NO 3,119-129 Vijay Durga
Prasad (May 2010). Hallmarking in India: A Major Quality Initiative in the Largest Gold
Jewellery Market in the World. International Journal of Marketing Studies Vol. 2, No. 1.

Urvashi Soni-Sinha (2011). Invisible Women A Study of Jewellery Production in

West Bengal, India. Journal of Gender Studies, Volume 20 Issue 2, 105

Dr.Bhushan D. Sudhakar; Arun Kumar. Parise (January 2012). Luxury’s New Destination –
Changing Paradigms Of The Indian Consumers – An Empirical Study, EXCEL International
Journal of Multidisciplinary Management Studies Vol.2 Issue 1, ISSN 2249 8834.

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G. Srinivasan (2012). Going for gold. Frontline, Volume 29 - Issue 08: Apr. 21-May 04. K.
Balanaga Gurunathan, S. Muniraj (2012). Impacts of Customer Awareness and Buyer
behavior Buying Jewellery Products–with Special Reference to Tamil Nadu State. European
Journal of Social Sciences – Volume 29, Number 3, 337-342.

Bose C., “Challenges and strategies for development of Indian gems and jewelleries”,
International journal of marketing and management research, 2(3), 2011, 96-105.

Arora N., Indian diamond industry problems and prospects, Himalaya publishing house,
2014, 17-20.

Thomas, G. (2017). Consumer Attitude towards Gold Market: An Empirical Study.

INTERNATIONAL JOURNAL OF RESEARCH CULTURE SOCIETY, 6-7.
IBEF. (2018). Gems and Jewellery. Indian brand equity and foundation, 13.

FICCI. (2017). FICCI Study on Gems & Jewellery

Industry.http://www.fibre2fashion.com/news/fashion-news/newsdetails.aspx?news_id=57667.

QUESTIONNAIRE & APPENDIX

Details about consumers/consumers buying behavior

1. What are the different areas from where consumer’s come to buy jewelry from
your outlet?
a) Haldwani
b) Others. Specify
2. What are the different buying seasons during which the sales of jewelry items are
very high? (Rank in descending order)
a) Bridal (_)
b) Diwali (_)
c) AkshayaTritiya (_)
d) Other than specify (_)
3. Specify the region for which people from places apart from haldwani tend to visit
your outlet? (probing)

Probing to be done on the basis of marriage / bridal. Demand for traditional

jewelry. Family jewelry of the customers

4. Which type of jewelry is more demanded by the consumers?

a) Youth fancy or traditional
b) Bridal fancy or traditional
c) Occasional buying fancy or traditional
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5. Mention top 5 jewelry items that are demanded most during bridal season?
(include traditional and fancy both)
a)
b)
c)
d)
e)
6. Mention top 5 jewelry items that are demanded most during Diwali season?
(include traditional and fancy both)
a)
c)
d)
e)
7. Mention top 5 jewelry items that are demanded most during
AkshayaTritiya season?(include traditional and fancy both)
a) .
b) .
c) .
d) .
e) .
8. Mention top 5 jewelry items that are demanded most during the
occasional buying season?(include traditional and fancy both)
a) .
b) .
c) .
d) .
e) .
9. Mention the highest selling inventory of your shop?

10. Which making charge do you sell to the customers?

11. Rank in descending order different methods of choosing the design of jewelry?
a) Bring their own design (_)
b) Trying to copy the design of jewelry that they have seen before (_) c)
Try to copy the design of jewelry that they have seen on the internet (_) d)
Choosing from catalogs (_)
e) Choosing from display (_)
f) Design selected / recommended by you (_)
g) Others than specify (_)

12. What is the average buying budget that the customers have during the
Bridal season?
13. What is the average buying budget that the customers have during
AkshayaTritiya season?

74
14. What is the average buying budget that the customers have during Diwali season?

15. What is the average buying budget that the customers have during the
occasional buying season?

16. How often the jewelry that is demanded by the customers is available at your shop?
a) Always
b) Often
c) Quite less
d) Never
17. Of the total items that are purchased from the customers specify the percentage that is
sold?
a) Off shelf
 b) On order
18. Do the customers demand a sales invoice for the items that they purchase
from your shop?
a) Yes
b) No
19. If yes, what is the percentage of customers demanding sales invoice?

Question related to wholesaler

1. Where do you buy jewelry items from your shop?
a) Local market haldwani
b) Places outside haldwani specify(name / location of wholesaler) 2. (If
both local market and places outside haldwani) what percentage of jewelry is
purchased from the local market?
3. Which type of delivery mode do you prefer most?
a) You go and pick your own inventory
b) Consignment delivered by the wholesaler to your shop
4. Do you visit the exhibition or not?
5. Do you collaborate with other retailers for buying consignment from the wholesaler?
a) Yes
b) No
6. Which is the most preferred form of buying?
a) On cash
b) On credit (number of days for which credit is provided)
7. What are the charges that you buy from them?

(what are the different rates of wastage for individual items)

8. What is the average size of consignment that you buy from your wholesaler?

9. Out of the total jewelry that you purchase, what is the type of jewelry
which remains unsold?

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10. How frequently do you order during different buying seasons?
a) Very frequently
b) Somewhat frequently
c) No, we have sufficient stock and diversify portfolio
d) Once a while in case a typical/ peculiar design is demanded
11. Discuss in detail different problems that you face while buying from wholesaler
Probing on the basis of
a) Transit risk
b) Delay on order
c) Larger transit charges for small order
d) Un availability of small order
e) Deviation in the pattern design order
f) Others than specify
12. How frequently do you update / change the catalogs having designs of jewelry?
a) Very frequently (every seasons)
b) Within two years
c) 2 to 4 years
d) More than 4 years
13. How do you attain catalogs for your outlet?
a) Catalogs are provided by wholesaler
b) Photo shoot is done by the shopkeeper on their own expenses
c) Other than specify

Rate in scale of 5 from highly agree to highly disagree

1. Incoming corporate brands / retailers have increased the competition in
the market?
12345
2. Corporate brands have led to the shrinking of your customer
base? 1 2 3 4 5
3. Corporate brands have led to the rise of demand for hallmark jewelry?
12345
4. Customer has become more inquiring / proactive in choosing design after
coming up with corporate brands?
12345
5. Customers come with their own designs in today’s time as compared to
before? 1 2 3 4 5
6. Demand for fancy jewelry has increased
drastically? 1 2 3 4 5
7. Is the customer coming up with their own design choosing from an
online platform? 1 2 3 4 5

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On a scale of 5 answer the following questions.
a) Having a dedicated led/screen display will help you in attracting the
customers more?
12345
b) Having an application containing various types of design will help you
in serving the customer properly?
12345
c) Having an event that is well advertised will not only enhance the footfall
but will help in capturing the customers.

Rate in scale of 5 from highly satisfied to highly dissatisfied.

1. Quality of inventory received from
wholesalers? 1 2 3 4 5
2. Time taken for delivery of each consignment?
 12345
3. Quality of catalogs and other informational material provided by
the wholesaler? 1 2 3 4 5
4. Exact design / make of jewelry provided by the wholesaler?
12345
5. Credit facility provided by the
wholesaler? 1 2 3 4 5
6. Diversify design of jewelry available with the
wholesaler? 1 2 3 4 5
7. Does the wholesaler entertain small size
orders? 1 2 3 4 5
8. Are you satisfied with the hallmarking done by the hallmarking
centers? 1 2 3 4 5

9. What are the problems and future prospects from jewelry retailers in your region?

77