Retail Market Sizing
Sizing the Decorative Lighting Industry 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.
Core objective was to conduct a feasibility study of the pearl market in India, answering the following key questions:
- 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?
- What is the current jewellery and pearl market structure including size, forecast and opportunities?
- What are the existing demand-supply gaps?
- Is the market ready for high end, superior quality, graded pearls from a foreign brand?
- 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?
- 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
- 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
- Triangulated the findings across customers and consumers to determine pearl market size in India and its growth potential