DIAMOND JEWELLERIES
Deepika Misal – 63Akshay Phadnis – 83Ajay Tahilramani - 109Akshay Tiwary – 114Sushil kute - 141
ABOUT DIAMOND JEWELLERIES
• India -one of the best markets in the world in the polished diamonds • Provides world-class quality of diamonds as well as exquisite cutting skills. • Over 83 per cent of India's Gems & Jewellery cut and polished diamonds
account for exports. • Jaipur and Surat are famous as world class polishing and designing centers
WHY CONDUCT A RESEARCH
• Declining sales of diamond• Unclear reasons behind low sales
BASIS FOR RESEARCH
Conducted on • working men and women • Age demographic : greater than 30 years• Earning income : greater than 3 lakhs
QUESTIONNAIRE (SECTION-1)1.Gender• Male• female2.Do you wear jewellery?• Yes• No3.Which type of jewellery do you prefer?• Gold• Silver• Diamond• Platinum• Other:
QUESTIONNAIRE (SECTION-2)
4.How frequently do you wear jewellery?• Once in long time(more than a year)• Once in a year• Whenever any special occasion arises• Other:5.What factors affect your buying decision regarding jewellery?• Special events• Occasional buying• Gifts• Investment purposes• Others6.In future would you buy any type of jewellery other than your preferred type?
QUESTIONNAIRE(SECTION-2)1.Have you ever purchased diamond jewellery before ?• Yes• No2.Have you ever wore diamond jewellery before?• Yes• No3.why do you prefer your preferred choice of jewellery over diamond?• Diamonds are highly priced• Low re-sale vaue• Better investment options• Personal dislike regarding its looks, appearance etc• Other
QUESTIONNAIRE(SECTION-2)
4.Do you know there are different diamonds of different shapes,sizes,color available in the market at various prices(even cheaper than gold/silver)?• Yes• No5.Does diamond proof to be of higher prestige value(as compared to gold/silver) to you?• Yes• No6.If price of gold/silver were to go up in future, then would you like to consider diamond as purchasing option?• Yes• No
FINDINGS
52%
4%9%
30%
4%
Which type of jewellery do you prefer?
GoldSilverPlatinumDiamondother
18%
9%
68%
5%
How frequently do you wear jewellery
once in long timeonce in a yearwhenever any special occasion arisesother
FINDINGS
What factors affect your buying decision regarding jewellery?
22
8
6
10
2
special events occasional buying gifts investment purpose other
FINDINGS
66%
34%
Have you ever pur-chased diamond
jewellery before ?
YesNo
why do you prefer your preferred choice of jewellery over diamond?
0 2 4 6 8 10 12 14
13
4
8
6
1
Chart Title
Other personal dislikeBetter investment options low re-sale valueDiamonds are highly priced
FINDINGS
53%47%
If price of gold/silver were to go up in future, then
would you like to consider diamond as purchasing
option?YesNo
67%
33%
Does diamond proof to be of higher prestige value(as compared to gold/silver) to you?
YesNo
ANALYSIS OF STUDY
Diamond sales are lower as compared to other jewelleries because• Diamonds are highly priced (price range for 1 carat diamonds between
$3,080 and $26,950 per carat)• 40% of respondents felt good quality diamonds are expensive• Better investment in the form of gold/silver
CONCLUSION
• More than 50% of respondents wore jewellery during special occasions • Many of them preferred to wear gold instead of diamonds during these occasions• 21 respondents considered diamond as of higher prestige value • Surprisingly 24 respondents already knew of availability of different varieties of
diamond at lower prices• more than half of people considered diamond as option if price of gold went up
indicating - price sensitivity Acceptance of higher prestige value