KIT: Handicrafts market in India
Strategic tools for the practising manager
India exported handicrafts worth Rs 10,534 crore during the year 2010-11, up 21 per cent from the previous year.
The high growth categories are imitation jewellery, wood wares and shawls as art wares. Embroidered and crocheted goods lead the pack followed by art metal wares and hand-printed textiles and scarves.
There has been an increased spending on home décor products and on personal decoration items that has led to an increase in the exports with retailers in developing nations focusing on direct sourcing of handicrafts from developing nations.
In the domestic market there is not much visibility and the handicrafts sector in India is largely unorganised. There is an opportunity for big players to enter this segment and create awareness and demand for handicrafts among Indian consumers.
India is better known for block prints and bandhini from Rajasthan; Patola, Gharchola and Mirror Work from Gujarat; Pochampalli from Andhra Pradesh; Jamdani and Kantha from West Bengal; Pashmina from Kashmir; Chikankari, Brocade from Uttar Pradesh and Kanji-varam from Tamil Nadu.
Few of the key success factors for organised retailing in handicrafts are innovation, discerning style and high-quality craftsmanship. Other factors are value based pricing, superior in-store customer service, robust distribution network, strong supply chain and positioning of products as quintessential cultural mementos and gift items of choice.
There is A growing opportunity for big players to invest and enter this segment, thereby catering to its global demand.