TechNavio recognizes the following companies as the key players in the Gems and Jewelry Market in India: Titan Industries Ltd., Gitanjali Gems Ltd., Malabar Gold Pvt. Ltd., Kalyan Jewellers India Pvt. Ltd., and Joyalukkas India Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “One of the recent trends being witnessed in the market is the increasing purchase of jewelry through online stores. The online jewelry stores are managed by organized players. Currently, the online jewelry stores are in a nascent stage of growth. In 2012, they accounted for less than 10 percent of overall sales of branded jewelry. The consumers in urban areas are willing to purchase jewelry online as it is easy, safe, and convenient. Moreover, a majority of online jewelry stores offer different payment options and provide third-party lab certifications for gold and diamond jewelry. Internet shopping in India is currently low, but is expected to rise drastically, especially in urban areas, due to the high internet penetration over the next few years.”
According to the report, one of the major drivers in this market is the increasing demand for gold jewelry by Indian consumers. India is one the largest consumers of gold jewelry, where the majority of gold jewelry is being used for aesthetic purposes and as an investment option.
Further, the report states that one of the major challenges is the fragmented and highly unorganized nature of the market. The industry is dominated by smaller players and there are over 500,000 such players operating in the Gems and Jewelry market in India. The majority of unorganized players do not offer BIS certification that endorses the purity of gold. Thus, there is no standardization of the quality of gold jewelry being sold in various outlets and customers may end up purchasing low quality gold jewelry.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/gems-and-jewelry-market-india-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Gems and Jewelry Market in India 2012-2016
