A Descriptive Examination on the Influential Factors and Motives behind Buying Behaviour of Gold Jewellery
Hanna Joseph1, David T Easow2
1Hanna Joseph, Research Scholar, Department of Management, Hindustan Institute of Technology and Science, Chennai (Tamil Nadu), India.
2David T Easow, Deputy Director, Department of Management, Hindustan Institute of Technology and Science, Chennai (Tamil Nadu), India.
Manuscript received on 07 April 2019 | Revised Manuscript received on 20 April 2019 | Manuscript published on 30 April 2019 | PP: 934-938 | Volume-8 Issue-6, April 2019 | Retrieval Number: F3788048619/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: According to World Gold Council report (2015), outstripping the US, West Asia and Europe combined, India has bought 663 tonnes of gold. The country’s demand for the metal was 666.1 tonnes in 2016 and it was 727 tonnes for 2017, but, it was observed that gold consumption in 2018 was between 700 and 800 tonnes. The trend shows that the demand for gold has increased over the years. Majority of the gold purchases are for weddings. Over half of the gold jewellery, coins and bars bought are for the 8 million to 10 million weddings that take place each year. The analysis mainly focuses on the identification of various influential factors and motives behind purchase of gold jewellery. A descriptive analysis of the influential factors and the reasons for buying gold are conducted which throws light to the major areas to be focused by jewellery retailers to capitalise and satisfy the requirements of the consumers. The primary data was collected using a structured questionnaire from the consumers of gold jewellery. The surveywas conducted in the state of Kerala, India which adopted Descriptive research methodology and the sample size was chosen as 665. The reliability and validity of the questionnaire was tested using Cronbach’s Alpha test which yielded satisfactory results. The investigation revealed the major influential factors and the motives which the customer finds most relevantin buying of gold jewellery.
Keyword: Advertisement, Gifts, Gold, Investment, Jewellery and Ornaments.
Scope of the Article: Disaster Management