On May 27, 2020, the World Gold Council released its report on Retail Gold Insights: India Jewellery Report. According to the report, around 37% of Indian women never bought jewellery.
Highlights
- The report says that gold jewellery was the second most popular item among “Fashion and Lifestyle” shoppers next to clothes and silk sarees.
- Around 60% of Indian women already owned jewellery.
- The 37% of Indian women that do not buy gold are now being seen as new target by the gold industry.
- Of these, 44% of the women are from rural areas and 30% are from urban.
Challenges
- According to the World Gold Council, the current young Indian women show least interest towards gold ornaments.
- Only 33% of women in the age group 18-24 bought gold jewellery. Their future purchase intent is low.
- This is a great threat to the gold market.
- India is one of the largest gold market in the world and decrease in gold purchase in the country will affect gold industry badly.
No comments:
Post a Comment