Gemfields recently released the findings of a study conducted in India   in collaboration with Drshti Strategic Research Services Pvt. Ltd,   to understand attitudes towards colour gemstones in India. The research was conducted with SEC A female participants, aged 18 years – 64 years, across eight key markets.

“Around 19% of the interview participants own jewellery with natural coloured gemstones,” the Gemfields’ survey indicated. “Around 11.5% of the respondents acquired some form of jewellery with gemstones in the last year with Delhi and Hyderabad combined contributing to 62% of the total acquirers.”

The Company said that the total value of the jewellery market across the eight cities surveyed is estimated to be around Rs. 34-38 bn or US$ 540-600 mn. “The category is dominated by smaller pieces such as rings (52%) and earrings (14%) which contribute to 70% of the market and 50% of the total value. Around 40% of the rings purchased were for astrological reasons, with the astrological market accounting for approximately 10-15% of the total value,” the study revealed.

Dev Shetty – COO of Gemfields commented: “India has been a key market for Gemfields and will continue to be one of our main focus regions in the coming year. The research was commissioned to better understand the gemstones category in India along and gain further awareness of the size of the market, consumer trends in jewellery buying and the category purchase factors. The report provides comprehensive insights and analysis that will help Gemfields build a branding and communication strategy for coloured gemstones in the Indian market.”

The Company said that the research also identified that single gemstone designs are the preferred choice across all jewellery categories with ruby seen as the most desired stone. Also, wedding anniversaries have emerged as the most important occasion for the purchase of coloured gemstone jewellery. “Family and friends are the key influencers followed by brand and retailer advertisements,” the study found.