Today we’ve published our Retail gold insights 2019 report, a thematic analysis of our new consumer research survey. With a base of 18,000 participants across India, China, Russia, Germany, the US and Canada, we believe it is the largest ever consumer survey on the global gold market.
The report highlights 5 main themes:
- People are confident in – and loyal to – gold. Gold already has strong foundations and it’s important to know where that confidence is strongest and weakest.
- But there are areas of mistrust. While people have confidence in gold, there is some mistrust around product purity and trustworthiness of some retailers.
- Gold can resonate more deeply among younger consumers. Millennials’ attitudes towards gold are not so different from those of older generations. But there are perceptual misgivings among the younger Gen Z audience, particularly in China’s jewellery market.
- Technological innovation can create a route to new audiences. There are some pioneering, technologically-savvy players in the gold market. But our data suggests there are too few.
- There are knowledge gaps in the minds of potential gold buyers that need to be filled. This includes greater awareness around gold, through TV, print and social media; more quality education around the benefits of owning gold; and, while it is not a mainstream issue now, the next generation of potential gold buyers need better education around the industry’s ethical credentials.
You can read the full report on our dedicated microsite www.retailinsights.gold.
