Market potential
There is a significant opportunity to grow the market. We have identified a group of people who have never bought gold in the past but would consider buying it in the future – we call these people gold considerers.
There is a huge opportunity for the market to grow
0%
of those surveyed had never bought gold, but were open to doing so in the future
In the retail investment category, the opportunity in mature gold markets like India and China is smaller than Russia, for example, where retail investment market development has been stymied by a high rate of VAT
In the jewellery and luxury goods category, the opportunity in mature gold markets like India and China is smaller than in the US, which does not have as strong a cultural affinity with gold.
Barriers to buying gold
What consumers say
Global retail investors
Global fashion and lifestyle consumers
Percentage of people considering investing in gold
0%
have invested in the past and would consider investing in the future
0%
have never invested before but would consider investing in the future
0%
would not consider investing in gold
- Have invested in the past and will consider investing in the future
- Never invested in the past but will consider investing in the future
- Will not consider investing in gold
US
41%
38%
20%
Russia
22%
57%
20%
Germany
41%
36%
24%
India
67%
29%
4%
Canada
24%
42%
34%
China
72%
24%
4%
*May not add up to 100% due to rounding
Base: Total retail investors (US, China, India, Russia, Germany, Canada)
Percentage of people considering buying gold
0%
have bought gold jewellery in the past and would consider buying it again in the future
0%
have never bought in the past but would consider buying it in the future
0%
would not consider buying it
- Have bought in the past and would consider buying again in the future
- Have never bought in the past but would consider buying in the future
- Will not consider buying
India
49%
37%
14%
US
40%
48%
12%
China
56%
30%
14%
*May not add up to 100% due to rounding
Base: Fashion and lifestyle consumers (US, India, China)
Unlocking the opportunity
Knowing there is a sizable opportunity is just half the battle. How can the industry convert this potential demand? Our survey highlighted two key barriers that must be addressed to unlock market growth.
In the retail investment category, 48% of gold considerers cited lack of trust as a barrier to making an investment:
0%
are worried about buying fake gold
0%
are concerned about the purity of the gold
0%
do not trust the businesses selling gold
Gold market potential
Investment - Gold considerers who have never bought
Jewellery - Gold considerers who have never bought
Investment - Gold considerers who have never bought
Base: Total retail investors (US, China, India)
Jewellery - Gold considerers who have never bought
Base: Fashion and lifestyle consumers (US, China, India, Russia, Germany, Canada)
Raising awareness
0%
of potential new gold investors don't know enough about gold, don't know how to buy it, or think it is not affordable for them
This ranges from unfamiliarity with the functional aspect of buying and selling the investment through to a lack of knowledge of what drives the gold price.
Canada, Female, 51I don’t know enough about investing in gold to make that decision. I would have to research it.
0%
of gold jewellery considerers said they could buy cheaper jewellery, it was too difficult to purchase, or that they did not know anyone who wore gold jewellery
Awareness & Education
Investment - Gold considerers who have never bought
Jewellery - Gold considerers who have never bought
Investment - Gold considerers who have never bought
Base: Total retail investors (US, China, India, Russia, Germany, Canada)
Jewellery - Gold considerers who have never bought
Base: Fashion and lifestyle consumers (US, China, India)
