Millennials want to experiment with different investment options and look for both offline and online sources of information while making investments. Hence, seamless integration of online and offline gold experiences can act as a unique differentiator and will be critical to engaging digitally savvy millennials for the future, finds the World Gold Council.
A study by the World Gold Council (WGC) finds that millennials are open to new ideas and want to experiment. Carrying out regular reviews of investments is also high on the agenda for many millennials. Chinese millennials are the most experimental as 33 per cent chose ‘wanting to experiment’ as a trigger for investment. However, the Indian millennial seems to be more traditional. Indian millennials are the most influenced by friends and family as 33 per cent said this was the case.
When it comes to physical gold, 48 per cent of the millennials seek information from family and friends, more than those aged above 34 years. Thirty-one per cent get information from blogs and forums and 49 per cent from traditional media.
“Millennials will not act alone; they are more likely to get information on physical gold from those they know around them and to tap into opinions through online forums and blogs. Targeting millennials through these sources will be increasingly important.
Millennials have aspirations almost similar to those aged more towards gold investments when given $1,000 to invest. They will invest 22 per cent in gold coins and bars and gold-backed financial products. However, millennials are more cautious with 23 per cent saying they would invest in savings compared to 18 per cent of those over 34 years. They are also more reluctant to invest in stocks and shares.
They study also finds that millennials do not expect gold to make them their fortune, but the latent demand for gold investments amongst this cohort shows gold’s appeal. Millennials see physical gold investment as giving low returns – a passive but steady option – and a solid base from which to make higher risk, higher return investments.
Even those millennials who do not own bars or coins, find that they could be valuable if they desired a stable long term investment.
“The gold investment market is well-positioned for growth. Untapped potential exists among investors, regardless of age or differences in cultural attitudes towards risk. The gold investment market is well positioned for growth. Untapped potential exists among investors, regardless of age or differences in cultural attitudes towards risk,” finds WGC.
Capitalising on these positive sentiments requires going beyond taking a one-size fits all approach and using investor typologies and occasion needs to define more targeted approaches, it added.
sangeethag@mydigitalfc.com
A study by the World Gold Council (WGC) finds that millennials are open to new ideas and want to experiment. Carrying out regular reviews of investments is also high on the agenda for many millennials. Chinese millennials are the most experimental as 33 per cent chose ‘wanting to experiment’ as a trigger for investment. However, the Indian millennial seems to be more traditional. Indian millennials are the most influenced by friends and family as 33 per cent said this was the case.
When it comes to physical gold, 48 per cent of the millennials seek information from family and friends, more than those aged above 34 years. Thirty-one per cent get information from blogs and forums and 49 per cent from traditional media.
“Millennials will not act alone; they are more likely to get information on physical gold from those they know around them and to tap into opinions through online forums and blogs. Targeting millennials through these sources will be increasingly important.
Millennials have aspirations almost similar to those aged more towards gold investments when given $1,000 to invest. They will invest 22 per cent in gold coins and bars and gold-backed financial products. However, millennials are more cautious with 23 per cent saying they would invest in savings compared to 18 per cent of those over 34 years. They are also more reluctant to invest in stocks and shares.
They study also finds that millennials do not expect gold to make them their fortune, but the latent demand for gold investments amongst this cohort shows gold’s appeal. Millennials see physical gold investment as giving low returns – a passive but steady option – and a solid base from which to make higher risk, higher return investments.
Even those millennials who do not own bars or coins, find that they could be valuable if they desired a stable long term investment.
“The gold investment market is well-positioned for growth. Untapped potential exists among investors, regardless of age or differences in cultural attitudes towards risk. The gold investment market is well positioned for growth. Untapped potential exists among investors, regardless of age or differences in cultural attitudes towards risk,” finds WGC.
Capitalising on these positive sentiments requires going beyond taking a one-size fits all approach and using investor typologies and occasion needs to define more targeted approaches, it added.
sangeethag@mydigitalfc.com
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