Weekly report 3

Title A STUDY ON CHANGING CONSUMER BEHAVIOUR FROM GOLD

JEWELLERY TO DIAMOND JEWELLERY IN JAIPUR

Objective of the Study:

1) To study and understand the buying behavior of consumers for gold and diamond
jewellery.
2) To find the difference b/w perception, opinion and behaviour of gold and diamond
jewellery buyers.
3) To have an idea about parameters consumer consider while buying jewellery.

Scope for Study:

This study will help the company to know about the buying behaviour which varies
according to season, festivals and other occasions and the age of the individual also
play important role to decide buying behaviour, From the consumers perspective
fashion designs and trends are always changeable in search of new innovation that
can be
reflected
in
the
changed
demand
and
buying
preference.
The study would help to understand the Consumer Buying behavior toward a produc
t

Description of the problem

1) Buying preference varies according to season, festivals and other occasions and the age
of the individual also play important role to decide buying preferences.
2) From the consumers perspective fashion designs and trends are always changeable in
search of new innovation that can be reflected in the changed demand and buying
behaviour.
3) Increase in income, increase the expectations of consumers so they are shifting from gold
to diamond jewellery.
4) Change in consumers preference.

Review of literature:
A literature review is an account of what has been published on a topic by accredited scholars
and researchers. In writing the literature review, our purpose is to convey what knowledge and
ideas have been established on the above mentioned topic, and what are their strengths and
weaknesses.
Shikha Saroj (2008) told in her paper Diamonds are forever that Jewellery has become an
integral part of the Indian psyche, today more than even before the Indian consumer is lining up
to buy branded jewellery that makes a fashion statement or expresses her individuality. Jewellery
has become a passion. People yearn for the contemporary designs at great prices. The concept of
branded jewellery has therefore taken a full swing in India. The competition of innovating
something new keeps on, flooding the marketplace with fine and fresh designs. Here there are a
few Premium lifestyle brands that promise to offer high quality at great prices.
Gidwani Devika (2002) in her paper titled Branded Gold Jewellery Market in India mentioned
that there is definitely a market for branded jewellery especially if something is aimed at the
younger generation, which wants to buy fashionable real jewellery. This is the right time to get
into the market, as it has just started to take off." The Indian market was witnessing a rapid shift
of screening jewellery from investment to artistic appealing ornaments. The focus had shifted to
design. The Indian consumer was willing to experiment with new designs
Paul Noronha(2005) in her study Brand appeal that published in THE HINDU Volume 22 Issue 23 mentioned that Branded jewellery has carved a niche for itself in the tough Indian
market and Its increasing growth rates show that before long it will corner a significant share of
the jewellery market. DTC's Supplier aims to grow consumer demand for diamond jewellery in
the context of the growing competitive luxury goods sector.
Alok Kala (2010) published in Diamond world, volume: 38 / No.: 4, Gemstones and Jewellery
in Jaipur .Jaipur offers great potential in the gem and jewelry industry. These gems and jewelelry
are in great demand in India and world wide . Jaipur exports a wide collection of gold, platinum
and studded jewellery. It also has an Export Promotion Industrial Park (EPIP) at Sitapura . Johari
Bazar,M.I.Road are the famous Jewelley Markets of Jaipur, for buying Jewellery. He opines that
various new ventures like Gold Souk, 200 expected jewellery factories in Special Economic
Zone and 50 jewellery plants coming up at Export Promotion Industrial Park have consolidated
trade in a more organised form. He said that the jewellery market in Sitapur alone accounts for
turnover of Rs 450 crore, which includes Rs 300 crore of the exports.
Study released by the Bullion Association of India ( (2007) stated that due to the changing
dynamics, traditional jewelers are looking to jump on the "brand wagon" by investing in
advertising and trying to build a presence in the minds of consumers. Traditional jewelers have
signed up Bollywood heroines as brand ambassadors to promote their products.

DATABASE: SOURCES OF DATA

Two types of data are collected for any research. They are:
a) Primary Data: It is the data which is collected for the first time by the researcher. In our study
primary data has been collected through the questionnaire. The questionnaires were carefully
designed by taking into account the parameters of study area.
b) Secondary Data: It is the data which has been collected by individual or someone else for the
purpose of other than those of concerned research study. Or in other words we can say that
secondary data is the data used previously for the analysis and the results are undertaken for the
next process. Secondary data is collected through the websites, surveys conducted by the
organization ,textbook, journals, management reports seminar papers etc. The electronic data and
results of surveys conducted by organizations were also important data sources for the report.

Primary data will be basically collected by conducting survey through a questionnaire (Sample
size=250) and area of conducting survey will be Jaipur . The research design will be descriptive.
Secondary data is obtained through gather all the information that my report need, I will find
related information by accessing reference books business magazines and journals & Web
sources.

Description of the company

Birdhichand Ghanshyamdas Jewellers is a leading manufacturer, exporter and supplier of
superior quality gems and jewelry from India. The product range we deal in includes premium
quality Gold Jewelry, Diamond Studded and Kundan Jewelry.Our prime product is Kundan
jewelry and we specialize in crafting orthodox designs with 22 kt gold, which has high demand
in retail and export markets. Our 22 kt. studded jewelry is widely accepted and well received by
Indians as well as NRIs. Ours is a renowned name for high quality jewelry, and we have always
maintained the consistent level of quality standards. Established way back in 1870 our
company has scaled phenomenal heights in export of Gold Jewelry, Diamond Studded and
Kundan Jewelry. Our export domain is quite large and covers countries like USA, UK, UAE,

Malaysia, Hong Kong, as well as countries in the Middle East region. Dr. Nawal Agrawal who
represents the fourth generation to carry on the family business is PhD in Gemology. Under his
able guidance, we are expanding leaps and bounds to create a benchmark performance. Our
company regularly participates in Trade Shows. We also commissions Freelance Designers to
cater to the European tastes and the slow changing local market (gemstones such as Blue
sapphire, Peridot and Tanzanite are the gems of choice for these latest designs). Our unit is an
ISO 9001 certified company and is also certified by the Bureau of Indian Standards (BIS).The
aim has always been clear that to provide best and win appreciations of our competitors and
trust of our prestigious customers.

Birdhichand Ghanshyamdas, founder of the 100 year old enterprise and the one who set up the
original store in Jaipurs Johari Bazaar was a man of vision and creativity. Though he had
several pursuits prior to entering the jewellery trade, it was in this business that his many
talents found full expression. Later generations, imbued with the same outlook and passion for
beauty and creativity, have kept intact the basic spirit of innovation and technical excellence of
the company, while remodeling itself and its products to cater to the consumer of the current
times.
For decades, Birdhichand Ghanshyamdas, or BG Jewellers as it is called by those in the know,
has crafted classical jewellery and has earned for itself the reputation of being a luxury jeweller.
It was patronised by royalty for over five decades. But from the very beginning, it conducted its
business from its Johari Bazaar outlet. A few years back, the new modern India, with its new
consumer, and the burgeoning business which had expanded much beyond what the confines of
the outlet could contain, led the people behind BG, Nawalkishore Agarwal and his son Yash, to
consider shifting to a new showroom, from the old shop. We had no space to expand,
explains Yash Agarwal, Creative Head of the jewellery house Also keeping in mind our
clientele, we felt we needed a new modern showroom.
The hunt for a site befitting its ambitions on MI Road, the arterial causeway of Jaipur. Rakesh
Gandhi, architect and interior designer was chosen to design the 4000 sq ft plus showroom. The
aim was to create a modern, contemporary and upscale showroom. Accordingly the space was
carved out with an idea of giving a spacious and gracious feel. Mezzanine areas with elegant
staircases leading up allowed for the lower floor to be kept clutter free. The use of a lot of glass
again emphasises the open, airy spacious look and feel of the interiors of the showroom.
Beige and brown are the theme colours we have used which are warm colours, explains Yash.
Covered with a dark veneer, the pillars have a wooden appearance. The flooring is of beige and
brown tiger onyx. The interiors exude a look of classic elegance. The idea was to impart a
look of ultra modern luxuriousness, says Yash. We thought the setting should be modern and
comfortable not traditional so that the consumer could feel the difference.
Separate areas are carved out to house sections for various types of jewellery like jadau, gold

jewellery, and diamond jewellery, for ease of viewing.

For the lighting both halogen and LEDs were used for a combination of general illumination
and object illumination. The soft general lighting emphasises the warm, undulating luxury of
the showroom while object lighting helps focus on the niches and shelves with the jewellery
display.

One important aspect of the new showroom is that it is very high-tech, says Yash. Every
aspect is computerised. So much so, that for example, the safe of the showroom has radio
tagging, a system by which all jewellery placed inside the safe is automatically taken stock of
and its price is calculated. Also, most importantly, the security systems are very modern and
advanced.
With the setting in place, another important aspect is the personnel manning the showroom, the
actual touchpoint for consumers who come to the store. We have a highly educated staff,
including the sales staff, elucidates Yash. Amongst our staff we have MBAs, designers from
NIFT, people who have done courses from GIA and other institutes.
Particular emphasis is placed on training the sales staff how to greet customers, how to
display the jewellery and so on. We want our customers to feel like royalty every one of
them should be made to feel like a king or queen, and that is how our staff is taught to treat
them.
In order to meet the present day consumers need for transparency and information, the
showroom also has a laboratory set up with a microscope to study diamonds. Customer
feedback is also stressed and there are systems to collect reactions from customers.
On the product front, there is continuous work on R & D and product development taking
place. The latest collection from Birdhichand Ghanshyamdas, Adrishya -- from the Sanskrit
word invisible -- is the result of just such a process. The Adrishya collection is the combination
of a modern setting technique where the gold is not visible, combined with the traditional
kundan-meena style of jewellery making. The result is an interesting collection of jewellery,
contemporary in design and appearance but with a hint of the traditional which gives it a
special twist and appeal.
Presently we are focused on fusion style of jewellery, says Yash. For these creations we use
different techniques to blend the modern and the traditional. For the Adrishya collection too,
the idea was to take Indian traditional craft, which does not find acceptance globally and fuse it

with the modern to make it appealing to a wider audience. Currently, the jeweller has three
collections Noor, the solitaire and high end collection; Hunar, the Kundan Meena collection;
and of course Adrishya, the latest fusion collection. Noor is, naturally, the highest priced
amongst the three collections, with a Rs. 10 lakh and upward price tag.
With a vigorous marketing campaign spread over different media like print, internet and social
sites as well as through participation in trade shows and by holding private shows, Birdhichand
has now become a prominent and established brand both in India and abroad. We already have
an established clientele of HNIs and NRIs, as well as tourists, says Yash. Now, the plan is to
expand out of Jaipur at the national level as well as at the global level. For national expansion
the jeweller is open to considering different business models, and is exploring the
opportunities.
Standing on its 100 year old history, Birdhichand Ghanshyamdas Jewellers is poised to make a
leap into the future to conquer new horizons based on the vision of creative and technical
excellence, and a future forward approach to everything it does

Birdhichand Ghanshyamdas: New Showroom Offers Splendid Buying Experience

The new showroom of Birdhichand Ghanshyamdas Jewellers of Jaipur was inaugurated on
December 9, 2006 at Laxmi Complex, M. I. Road. Birdhichand Ghanshyamdas
Jewellers have an elated presence in the market for decades, up till now the group carried retail
trade from their showroom in Johari Bazaar.
The new double storeyed air-conditioned showroom is spread over the area of 4,200 sq. ft. The
showroom offers 22 kt. gold, diamond, pearl, ruby and colored gemstones jewellery. The ground
floor of the retail outlet is reserved for gold, Polki and Kundan jewellery whereas the first floor
displays exclusively diamond jewellery.

The spacious showroom covers the finest range of diamond items for Men : belt buckles, tiepins,
pen covers, cufflinks and wristwatches. IGC Universal Gemological Laboratories, headquartered
in Israel and having labs in Russia & India has certified the full-store of Birdhichand
Ghanshyamdas Jewellers of Jaipur. Vipul Shah of IGC handed over the certificate for the above
to Dr. Nawal Agarwal.
The showroom being the first ever in Rajasthan certified by IGC would be an added attraction
for the customers. The IGC Mobile Laboratory concept is fast growing and many jewellers are
accepting its services across India.
The mobile lab saves the jeweller the trouble of travelling and the risk of sending expensive
jewellery to Mumbai. An expert mobile lab team scientifically examines each diamond with the
help of the special equipments to produce an accurate description of the characteristics of the
same. On completion, customized reports are given to the jeweller.
The aim has always been clear that to provide best and win appreciations of our competitors
and trust of our prestigious customers.
Certain key features that highlights our strengths are:

High quality products

Premium quality raw materials

Unique designs

Fine finishing

Talented & creative designers

Reasonable prices

Easy availability

In the arena of gold jewelry, diamond-studded jewellery and kundan jewellery, we have
carved a niche for ourselves and generated huge market demand.