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ADORNMENT DIMENSION
Gold jewellery is a symbol of wealth, status and good fortune that is underpinned by the Hindu religion.
Weddings
The bride is normally adorned with as much jewellery as the family can afford. Large items tend to be worn by female
guests. For most families, a public display of wealth and financial security at weddings is an age-old tradition and ritual.
Among the wealthy, much bridal jewellery is rarely worn again: stored in one of millions of bank “lockers” (deposit boxes).
Large items tend to be withdrawn only occasionally for important functions.
Daily wear
Jewellery is normally worn by women on a daily basis. Most married women wear an item indicating their married status,
many wearing a mangalsutra or long gold chain. Ancillary gold items can include earrings, finger rings and pairs of bangles.
Adornment-related observations
GOLD JEWELLERY CONSUMERS
“Wearable” jewellery
Economic and social changes during the 1990s have encouraged many women to acquire items, within their bridal
collection or through additional purchases or the exchange of old jewellery, that are suited to a variety of social and
work-related occasions, clothing and lifestyle. This has led to increasing sales of lighter weight and smaller items.
Most retailers view “wearable” jewellery as an important new market segment for the middle class. Wedding jewellery tends
to be heavier, formal and more traditional in design.
“Fashionable” jewellery
For both wedding and “wearable” jewellery, many women are insisting on jewellery with innovative and contemporary
designs.
Machine-made jewellery is becoming more popular. It is light, sleek, modern and available in many stylish designs.
Competition
Although there is economic growth, much disposable income that might previously have been spent on jewellery is now
being absorbed by lifestyle products such as TV’s, white goods, electrical appliances, clothing and holidays. The
joint-family system is also gradually being replaced, especially in urban areas, by nuclear families that tend to be less
conservative and less committed to gold.
Image
Gold jewellery’s image remains strong among the middle and lower classes, but the sale of large amounts for adornment
purposes is intertwined with the consumer’s perception of gold as a worthwhile asset.
At the top end, demand has weakened for several reasons. Gold jewellery is viewed as “old-fashioned”. The younger
generation appears to be less committed to owning or wearing as much as their parents. Retailers are well aware that they
need to address these issues.
Positive factors
The population and number of marriages increase each year. Economic growth will generate a much larger middle class.
The custom of wearing much jewellery at weddings and important functions is expected to endure for a long time. Personal
purchases of wearable, fashionable and small items of jewellery are expected to increase significantly over time.
Photograph: Alukkas
For many jewellery consumers the gold bangle is the most important product category.
Bangles account on average for about 30% by weight of the gold jewellery sales of large urban retailers.
AN INTRODUCTION TO THE INDIAN GOLD MARKET 115