Retail Market Sizing

Sizing the Decorative Lighting Industry in India

About the Client

A leading investment firm was looking to invest into a prominent chain of lighting stores. In this context, they wanted to understand the decorative lighting market inIndia and a strategic perspective around the potential of this market segment.

Project Objectives

Core objective was to map the decorative lighting industry in the top 15 cities of India, answering the following key questions:

  1. What is current market size and growth rate of Indian decorative lighting market? What is the future outlook? What are the growth drivers and challenges?
  2. What should be the retail mix for different locations?
  1. Market mapping and in-depth perspective of the highly unorganized decorative lighting industry. Further, market size of the decorative lighting market in the top 15 Indian cities and their future growth potential were also calculated using multiple approaches-
    • Supply side: using a bottoms up approach, size of retailers in terms of avg. sale in particular city was calculated which was used to estimate the size of the market in that city. Similar approach was used for all 15 cities, and data was used to estimate PAN India market size.
    • Demand/ consumer side: consumer survey was done to identify avg. spend of consumers on decorative lighting and replacement cycle. It was used to estimate total spend by such consumers and by combining it with no. of such consumers in India, market size for lighting industry was estimated.
  2. A thorough perspective on the target retail chain’s operations using industry benchmarking methods, clearly indicating the business’s potential in India.

Market Sizing of the Pearl Market in India

About the Client

A leading Japanese jewellery trading wanted to study the pearl market in India to help them identify market opportunities and the strategy to tap them effectively.

Project Objectives

Core objective was to conduct a feasibility study of the pearl market in India, answering the following key questions:

  1. What should be the unique theme/USP for the retail development, which maximizes customer engagement, encourages repeat footfalls, and successfully positions it as a differentiated proposition?
  2. What is the current jewellery and pearl market structure including size, forecast and opportunities?
  3. What are the existing demand-supply gaps?
  4. Is the market ready for high end, superior quality, graded pearls from a foreign brand?
  1. Detailed analysis of the overall jewellery & pearl market in India:
    • Market structure and segmentation
    • Demand & supply drivers
    • Major markets for buying pearls in India? Who are the major players – organized and unorganized?
    • Customer: brand presence, willingness for proposed location, etc.
    • How has the consumption behavior of Indian population changed over years?
  2. Customer Analysis & Market Sizing
    • Demand for pearls in the retailers’ city and in their own business. Growth drivers and potential for future growth. Impact of recession on sale of pearls
    • Awareness amongst retailers about the type of pearls, qualities & prices available. Level of availability of pearls w.r.t. various types; price range; size; quality; etc.
    • Role played by vendors, on the consumer decision making process. Importance of authenticity /Quality certification
    • Willingness to do business with foreign company
  3. Consumer Analysis & Market Sizing
    • Jewellery purchase occasions; average annual spend on jewellery; share of pearls in current jewelry collection; and likelihood of increase /decrease
    • Level of awareness, knowledge & understanding of type of pearls, qualities & prices. Current satisfaction levels and unmet needs and wants
    • Purpose of buying pearls. Influencers and apprehension. Role of jeweler
    • Sources of information
  4. Triangulated the findings across customers and consumers to determine pearl market size in India and its growth potential