Project report for Bangle shop industry

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Introduction

Bangles are rigid bracelets that are commonly made of metal, wood, glass, or plastic. Women from Asia and Africa are the main wearers of these ornaments. At a wedding, it's not uncommon to see a new bride wearing glass bangles. Young girls may also wear bangles, and gold or silver bangles are favoured for toddlers. Bangles have a square appearance and are not as flexible as bracelets. The word comes from the Hindi word bungri (glass). Gold, silver, platinum, glass, wood, ferrous metals, rubber, and other precious and non-precious materials are used to make them. Married Bengali and Oriya Hindu women wear white-colored sea shell bangles. Women and girls, especially in the Bengal region, wear a special form of bangle known as a "Bengali bangle," which is made by thermo-mechanically fusing a thin gold strip (weighing between 1–3 g) onto a bronze bangle as a replacement for a more expensive gold bangle. The kada or kara is a single bangle worn by certain men and women on their arm or hand. A gold ring, a kara (steel or iron bangle), and a mohra are given to the groom by the father of a Sikh bride in Sikhism. Chooda is a kind of bangle that Punjabi brides wear on their wedding day. It's a band of stoneworked white and red bangles. Basically, in every section of the society in India, irrespective of the ethnicity and community bangles are integral part of our culture. And therefore, have a significant demand amongst Indians. With, the development of internet culture and increased accessibility of smart phones to people, online retailers have also jumped in the competition against the orthodox bangle sellers in physical retail shops. Although, the consumer base is not as widespread as the conventional selling space.

Market potential & Strategy

The demand for bangles in the landscape of Indian market is mostly driven by festivities every now and then. In some festivals, it’s a custom to give away bangles to poor and deprived women. The fashion aspect amongst women fuels the entire industry. Although the manufacturing is concentrated in specific locations, the bangle shops are widespread across the nation. The industry generates millions of revenue every year as bangles continue to be a cherished product not only by women in India but even from abroad. The city of Firozabad in Uttar Pradesh is the world's largest manufacturer of glass bangles. The bangle shops in Firozabad's Sadar Bazar are well-known. The most recent technological advances are used in the manufacture of bangles. Locally built equipment is used, and it is often operated locally. Instead of coal, which was formerly used, this equipment runs on natural gas. Natural gas is more environmentally sustainable and decreases emissions. It's much more efficient when it comes to heating glass. Each computer costs between Rs. 20,000 and Rs. 70,000, making it accessible to even small businesses.

Lac bangles and glass bangles are the most common bangles. Lac is a kind of clay that is very brittle, and these bangles are made of it. Bangles with a brass or silver frame are also common for weddings and have a strong demand in Lad Bazar. Bangles can be made from a variety of materials. Lac bangles cost around Rs. 120 per pair, whereas glass bangles are less expensive, costing around Rs. 20 to Rs. 30 per dozen. The cost of the bangles is largely determined by the level of decoration applied to them and the amount of material used to create them. In India, the bangle industry is booming, and it supplies the whole country as well as exports to the rest of the world. There are many art galleries, and Indian traders’ profit from the influx of foreign visitors. With the rise of online shopping in India, these bangles are now available for purchase online. This market is on the rise and has a promising future ahead of it.

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