Research Study on Gold Purchasing Behavior of Consumers in Nepal

Abstract

Aims: Taking into account the enviable position of gold industry in our nation’s economy and culture. It is useful to understand and identify the consumer’s behavior and various factors influencing the consumer behavior in gold and silver market. Study Design: The descriptive cross-sectional quantitative type was used to identify the purchasing behaviour of consumers. Place and Duration of Study: 431 sample were collected from forty jewellery shops throughout western parts of Nepal from June 2017 to December 2017. Methodology: Forty jewellery shops were selected randomly from the list of total jewellery shops throughout western parts of Nepal from June 2017 to December 2017. From each shop, ten customers were chosen purposively to cover the 431 sample size. The data was collected through interview using the pre-tested structured questionnaire. Data were analysed using SPSS-20 via appropriate statistics like frequency, percentage, mean /median, SD, and hypothesis testing tool chi-square. Results: The study reveals that majority of the respondents were female, i.e. 65.8% followed by male 34%. There is a significant difference between the common behaviour of jewellery on female and buying of jewellery. I.e. p-value 0.010. There is no significant difference between gender on instincts of advertisement and buying of jewellery, i.e. p-value 0.419 and 0.658 respectively. Conclusion: In jewellery purchasing behaviour, a decision on buying jewels, place of jewellery buying and instincts of advertisement have not any significant with the buying pattern of people. The study has concluded that female participants mainly preferred the jewellery buying by themselves.