Factors Influencing Jewellery Buying Decisions and Alignment with Jewellers’ Perception

Abstract

The study investigates the factors influencing jewellery buying decisions among consumers in Kolkata and examines the alignment between consumer preferences and jewellers' perceptions. Primary data was collected through self-administered and manually administered questionnaires from 120 customers and 50 jewellers in Kolkata. The research employs descriptive statistics, hypothesis testing, and correlation analysis to analyze the data. The findings reveal significant differences in jewellery buying preferences based on gender, age, marital status, and income levels. Male respondents are more likely to wear gemstones and pay a premium for branded jewellery, while female respondents show a higher preference for online purchases. Younger consumers prioritize design and brand, whereas mid-aged consumers view jewellery as an investment. Married respondents prioritize jewellery for investment and festivals, whereas unmarried respondents focus on gifting. Higher-income individuals tend to buy jewellery for daily wear and are influenced by advertisements and peer reviews. The study also highlights discrepancies between consumer preferences and jewellers' perceptions. Jewellers overestimate the importance of gold prices and advertisements while underestimating the significance of outlet location and festivals in consumer decision-making. The research provides valuable insights for jewellery businesses to align their strategies with consumer preferences, emphasizing the importance of personalized services, strategic location choices, and targeted marketing efforts.