The new generation Indian consumer is buying local as well as ilinternational jewellery mainly because of two major influences - the internet anc celebrities. De Luca, however, noted that the Indian luxury market is still underdeveloped because of excessive red tape, high taxes and lack of upscale retail spaces. Organised retail is just 8% of the market share as compared to 20% in China and 85% US.
The domestic Inidan jewellery market is worth $16 billion however, the value of the branded jewellery market is estimated at less than 10%. The branded sector is expanding and has about 50 brands now as compared to 30 players around 2005. The gem and jewellery industry accounts for almost 20% of the total Indian exports and employs around 1.3 million people directly or indirectly.
The consumer profile includes men, working woen and housewives in the are-group of 20 to 40 years, as ell as the younger generation aged 15 and above. India's distribution snapshot is completely different from global distribution channels described so far. There exist almost 2.5 million jewellery shops that are run by families.
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