Factor Analysis of Consumer Perception in Jewellery Business: An Empirical Study on Punjab

Consumer perception refers to how consumers view a certain product or service. It is key factor that influencing the buying behaviour of individuals, and ultimately, it decides the profitability of the business. Product success or failure depends on consumer perception and purchase behaviour. Hence, the business concern has been taking several initiatives through their marketing and advertising strategies to influence the consumer perception and their purchasing behaviour. This study focuses on the perception and preference of working women who buy plain gold towards branded gold jewellery. The primary data was collected from 200 females through a well-structured questionnaire and interview schedule. This study analyses the determining factors that drive consumers while purchasing jewellery in Punjab. The key findings figure out three major factors of consumer perception- Price & Economic Considerations, Trust, Quality & Authenticity, and Store Experience & Promotional Influence. The findings of this study are important for the entrepreneurs and policymakers of the jewellery industry.