Gold purchase in India: A consumer perspective

Abstract

The purpose of the project is to understand the various drivers of gold buying decision making in India. Being a country rich in history and culture, the project aims to understand the variation in buying patterns across regions, religions, and SECs. Finally, the project also tries to understand if there is a change in Gen Y’s attitude towards gold when compared to the previous generations. Methodology Literature review and secondary research was done. 15 in-depth interviews were conducted with individuals who use/have used gold. Findings The research exposed the answers to six basic questions about gold buying behaviour in the country. Some of these findings have a scope for further research. Research Limitations The major limitation is that the sample size is small. Also, the representations from different regions, religions, SECs and age groups are limited. The study has been conducted only on urban population. Practical Implications This paper covers only the buying behaviour related to a few aspects we have identified and may not be exhaustive. Value This paper provides an understanding of the gold buying behaviour of customers aged between 20 and 55 in the country. These insights may be used to work on further research