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Organized jewelry and watches retail penetration India 2012-2021

Organized jewelry and watches in India were estimated to penetrate 32 percent of the retail market in 2021, indicating a growth from 29 percent in 2018. The slow growth could be a consequence of the expensive jewelry being bought infrequently across the south Asian country. Typically, jewelry in India is not bought for occasions and adornment purposes only. Investment has been an important reason for jewelry purchase as well.

Organized retail in India

Jewelry and watches had the highest penetration in organized retail across India in 2017, at about 28 percent. This was closely followed by footwear and consumer electronics with a penetration rate of 27 percent each. Food and groceries had the lowest penetration rate that year. Despite having the lowest penetration rate, the food and grocery segment had the highest value in the organized retail market at around 16 billion U.S. dollars.

Leading jewelry retailers

Kalyan Jewellers, Tanishq and Malabar are some of the leading retailers in the jewelry and watches segment within the organized market across the country. Kalyan Jewellers a profit after tax of five billion Indian rupees in 2019. That year, the retailer was present across 18 states domestically as well as in the Middle East. Joyalukkas, on the other hand, reported a profit of almost 14 billion rupees in 2019. Established in the southern city of Kottayam in 2002, the company had 88 stores across the country as of August 2019.

Rate of penetration of organized jewelry and watches retail across India from 2012 to 2018, with an estimate for 2021

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Sources

Release date

December 2019

Region

India

Survey time period

2012 to 2018

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Statistics on "Jewelry market in India"

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