A Study on Spending Patterns and Buying Motives of Indian Gold Consumers

다국어 초록 (Multilingual Abstract)

Purpose: The focal objective of this research is to be acquainted with the spending patterns and buying motives of Indian gold consumers along with the opinions of gold traders. Design/methodology/approach: After a meticulous review of the relevant literature on consumer behavior, gold and gold ornament market in India, the researchers engaged a well structured questionnaire, conduct personal interviews with 450 consumers and 60 gold businessmen. The researchers applied stratified and convenience sampling methods. The collected data was analyzed with the support of Microsoft Excel package and frequency distribution. The hypotheses were selected based on the literature and pilot survey results and proved to be applied by using Analysis of Variance (ANOVA). Findings: The researchers identified that 85 percent of Indian gold consumers are purchasing gold in the form of ornaments and jewellery as against 10 percent invested in gold coins/bars. Another 5 percent consumers is investing in gold by choosing either gold traded mutual funds or gold schemes introduced by corporate gold traders. Majority of the Indian gold consumers are considering occasions and festivities while buying gold and then giving preference to price as against least preference to recommendations of brand ambassadors. Research limitations/implications: The research confined to the Indian state of Andhra Pradesh, a leading gold consuming state in the entire country. Practical implications: This study emphatically provides authentic information needed to both organized and un-organized gold trader through which there is a chance to review their existing marketing strategies and introduce further ways to augment the situation in getting more attention for effective merchandizing. Originality/value: This research paper sheds ample light on spending patterns and buying motives of Indian gold consumers which is first of its kind beneficial to both academicians and gold traders.

목차 (Table of Contents)

• Abstract 1. Introduction 2. Literature Review 3. Research Methodology 4. Analysis and Discussion 5. Practical Implication 6. Conclusion References