Ms. Harshi Pawani, Fashion Management Scholar, Department of Fashion Management Studies, National Institute of Fashion Technology, Ministry of Textiles, Govt. of India Daman Campus
ABSTRACT
There exists a distinct category for gold jewellery products in the consumer market with respect to their combined aesthetic, cultural, emotional, and investment attributes. This research work attempts to explore the decision-making patterns of consumers in buying gold jewellery products among males and females based on their attitude-building factors using the Theory of Planned Behaviour framework. Using a theoretical research methodology, the existing literature is surveyed to explore the distinct set of gender-associated attitude parameters. The research work provides insights into the fact that the attitudes among female consumers towards buying gold jewellery products are mostly driven by aesthetic appeal, emotional benefits, and occasion-driven usage behaviour, whereas the attitudes among male consumers are mostly led by investment aspects, securing financial aspects, and social responsibility constructs. This research work substantiates a substantial difference between the evaluative beliefs of the male and female consumers, thereby establishing the prime importance of the ‘attitude’ dimension in forming the decision-making behaviours among the gold jewellery product consumers.
INTRODUCTION
In the consumer markets, gold jewelry has always maintained an immensely significant place over time because it relates to multiple requirements involving aesthetic appeal, symbolisms, as well as monetary value. In addition to providing the decorative value of other Luxury Goods, Gold Jewellery provides a product that is associated with emotional bonding and social standing, and offers consumers the ability to see it as a long-term investment. For example, in many countries, especially India, gold jewelry is associated with important events in an individual’s Lifetime, including marriages, festivals, and family celebrations. Consequently, consumers often view the purchase of gold jewelry as both an emotional and a social decision.
Decision-making among consumers regarding Gold Jewellery is a complex process that involves a wide range of psychological as well as some social aspects on the consumer side as a whole. Men and women differ on the extent of their participation in decision-making while purchasing Gold Jewellery. In fact, women are the main wearers as well as the designers for Gold Jewellery products, as against which men are the financial decision-makers related to such products when they are more expensive.
Purchase intention of Gold Jewellery goes beyond the realm of price and purity rational evaluation; there is emotional attachment, family influence, societal expectations, and perceived financial capability. This is so very important for any Jewellery retailer and marketer since consumer expectations have increased due to fast-rising design innovation, digital influence, and greater awareness about pricing and certification of gold.
This research paper attempts to explore the buying decisions of Gold Jewellery among males and females by analysing important behavioural aspects that shape buying intentions. This paper is based on the Theory of Planned Behaviour to provide a proper framework to understand the influence of attitudes, subjective norms, and perceived control on buying intentions and actual buying behaviour of consumers. This research paper identifies important male and female behavioural differences to provide effective marketing strategy insights to Jewellers and marketers on marketing Gold Jewellery among males and females.
Because of its unique combination of aesthetic, cultural, and monetary values, Gold Jewelry occupies a prestige segment in the marketplace. Unlike other high-value products, gold jewelry is purchased not merely for aesthetics but also as a symbol of investments, cultural heritage, status, and emotions. As Gold Jewelry plays a vital function in major events of everyday life such as marriages, celebrations, and family gatherings in countries such as India, the buying decision of the product is driven by both social as well as emotional considerations.
OBJECTIVES
- The review of literature is related to the attitude variables for understanding consumer decision-making in gold jewellery purchases among men and women,
- To theoretically analyses the reviews
- To suggest an appropriate plan of action based on the above given topic.
RESEARCH METHODOLOGY
This research follows a theoretical qualitative approach based on an extensive review of secondary sources such as peer-reviewed journals, academic articles, and industry reports related to consumer behaviour and gold jewellery purchases. The literature was systematically analysed using thematic analysis to identify key attitude-based factors influencing purchase decisions among men and women within the Theory of Planned Behaviour framework. Recent and credible publications were selected to ensure relevance to current market trends. Ethical considerations guided the use of authentic and open-access sources.
LITERATURE REVIEW
For Women’s Attitude Variables
- Aesthetic and Self Expression Value
Yang, M. (2023). Golden Choices, Gold is one of the most important forms of precious metals used for decoration, investment, gifts for special occasions, etc. Gold jewellery is also culturally important (i.e., it carries great meaning), emotionally important, and economically important within the Indian culture (tradition). Research suggests gold jewellery buying habits depend on several factors including: 1) quality, 2) purity, 3) price, and 4) trustworthiness of retailer (s). Research indicates that consumer buying habits towards gold jewellery are also impacted, among other things, by social norms and cultural traditions of gifting jewellery on special occasions (including significant amount or periods of high gold prices (3). Consumers now expect their gold jewellery to be attractive/elegant, to meet their aesthetic preferences as well as to be of guaranteed high quality and to be transparently priced (4), (5), and to come with a solid guarantee and customer service support (6). The evolving fashion trends and the increased consumer awareness regarding the availability of new designs and branded gold jewellery have also influenced consumer preferences for these products. Furthermore, literature has identified gold jewellery as a way for a consumer to express their achievements (i.e., wealth, security, social status), thus contributing to the positive attitude of a consumer towards purchasing jewellery. Further, the trust, authenticity, and certification that comes along with the jewellery that consumers use in their process of gathering brand loyalty are also of great importance. There is an indication that the collectively studied projects have shown the significance of jeweller understanding the effect of changes in the behaviours of consumers.
- Emotional and Cultural Attachment
Mary, J. K. A., & Ganesan, C. (2023) Women’s Attitudes on Gold Jewellery Investments and the Factors That Influence Such Attitudes. The literature shows that gold jewellery has sentimental and cultural value in the Indian mind, relating to major life events: birth, marriage, festivals, auspicious days, and religious events, and even death. Apart from its aesthetic value, gold jewellery is in demand because of its linkage to wealth and prosperity or simply because it is traditional. As shown in the above studies, females may develop a liking for gold jewellery pieces because of their significance in various events in women’s lives. Apparently, it is considered that values in different cultures make a significant impact on the attitude of females toward the purchase of gold jewellery pieces. It can be revealed that cultural values and norms play a significant role in influencing the attitude of women in purchasing gold jewellery. As there is an increasing preference for branded jewellery, women also tend to get connected to trustworthy, authentic, and emotional values in the case of recognized brands. Literature Majors emphasize that customer satisfaction in terms of high-quality products and builds service relations to have significant emotional influences in jewellery brands.
- Occasion & Versatility Belief
Xavier, A. J., & Kamalam, G. (2016) & Matthew Yang. (2023). The studies conducted in Coimbatore and Sivakasi, while using the existing literature, identify the cultural, emotional, and economic importance of gold jewellery to Indian consumers. This results in gold jewellery being structurally linked to various key social and religious events. In these studies, consumers reported buying gold jewellery for weddings, festivals, and as gifts; events with which jewellery is perceived to be auspicious and/or particularly valuable. Research suggests that the belief that gold jewellery can be used across multiple occasions strengthens consumers’ positive attitude toward purchase. Gold jewellery is perceived not only as a decorative item but also as a long-term asset that can be worn, gifted, or resold when required. Consumers value jewellery that offers versatility in terms of design, allowing it to be suitable for daily wear as well as special events. Literature also notes that branded jewellery enhances this belief by offering certified purity, modern designs, and adaptable collections. The perception of gold jewellery as both functional and prestigious encourages repeat purchases and brand loyalty. Overall, occasion-based usage as well as versatility remain strong drivers for consumer decision-making within the gold jewellery sector.
For Men’s Attitude Variables
- Investment & Financial Security Belief
In Deloitte Report Current research reveals the continued engagement of gold jewellery in men’s financial decision-making processes as a reliable investment and wealth-creation mechanism. According to Deloitte’s report “Go for Gold: A Winning Playbook for the Gems and Jewellery Industry”, 86% of Indian consumers view gold and jewelry as a medium for wealth creation, thus emphasizing its proven worth comparable to market-linked instruments such as mutual funds and stocks. According to the report, men, and those who are 45+ in particular, have shown greater preference for jewelleries for investment purposes as opposed to women, thus portraying sound and pragmatic investment behavior. For male consumers, gold jewellery is not merely an adornment but a tangible store of value that provides financial stability during economic uncertainty. Additionally, 28 percent of consumers purchase jewellery purely for investment purposes, with men dominating this segment due to their association of gold with long-term financial responsibility. Such an investment mentality is also associated with certain social demands, wherein the individual feels that the buying of gold represents not only an investment decision but also a display of foresight, integrity, and preparedness for family responsibilities on the part of the male. The notions of investment and economic security thereby play an important role in molding the attitude of males towards the acquisition of gold jewellery.
- Responsibility & Social Status Perception
Dr. Kavita Saxena Associate Professor, Economics Department, D.N. (PG) College, Meerut (2016). It is evident from literature that gold jewellery in Indian culture has traditionally stood for accountability, security, and status, and especially so for males, as financial guardians of their families. Jewellery has conventionally been regarded not only as an ornamental accessory but also as a moveable wealth form, hence reinforcing a male’s financial accountability and commitment to a stable economy. Trust, purity, and return values have been identified as the key determinants of purchasing jewellery, which clearly indicates the reasoning ability as well as the moral obligation of a male for purchasing the jewellery. Also, possessing gold jewellery symbolizes status, as it signifies that the individual owning them is trustworthy, respectable, and adheres to societal values, as people belonging to rural and semi-urban areas possess them. Also noteworthy is family influence, which is a crucial element, as men would like to purchase jewellery only from family jewellers, hence reiterating a long-term tie based on trust and ethical behaviour. Even though branded jewellery has received mass attention because of intense promotion activities, traditional jewellers lead the choice of males for their economic and ceremonial purchases. According to literature, status symbolism by jewellery is a subtle, less boastful phenomenon in men, where worth lies in purity and authenticity rather than luxury. Hence, accountability and status perceptions of responsibility influence men’s attitudes towards gold jewellery, which becomes a status symbol for trustworthiness, tradition, and status.
INSIGHTS OF THE REVIEW
For Women’s Attitude Variables
The overall conclusion of the reviewed literature indicates that the combined effects of aesthetic appreciation, emotional attachments, and the versatility of use are what cause Indian women to purchase gold jewellery. As women start to view jewellery as an indicator of womanhood, success, and contemporary ideas of fashion rather than just ornaments, aesthetic values and self-expression consistently emerge as significant motivators. Emotional attachments and cultural values continue to be deeply rooted, as jewellery comes to represent tradition, milestones, and inherited events, hence solidifying favourable purchase attitude. Cultural practices continue to have major influences in educating the preferences related to jewellery purchases among women, hence solidifying the emotional value linked to the purchase and possession of gold. Jewellery usage linked to occasion-based practices reinforces the demand factor, as the jewellery is perceived to be suitable for all occasions. Long-term reuse and sustained use are encouraged by design versatility, which keeps reinforcing the value. The desired levels of trust, emotional health, and aesthetic satisfaction are further reinforced by the growing demand for branded jewellery.
For Men’s Attitude Variables
The literature clearly establishes that men’s attitudes toward gold jewellery are more influenced by beliefs related to investment security and social responsibility. Gold jewellery is generally perceived by men as a stable financial asset, a reliable tool for long-term wealth creation, particularly during economic turmoil. Unlike women, male consumers also show a greater disposition toward investment-led purchases, wherein gold is equated with financial astuteness, foresight, and economic stability. The belief in gold as a store of value reinforces men’s role of responsibility as family providers and financial decision-makers. Social status perception further strengthens this attitude wherein ownership of gold signifies trustworthiness, respectability, and adherence to cultural norms rather than overt luxury. Literature supports that men accord greater importance to purity, return value, and trust over design or fashion appeal; this depicts rational and obligation-driven buying behaviour. Preference for family jewellers underlines the importance of long-term trust and ethical relations that males give in purchase decisions. Overall, investment motives combined with responsible and understated status symbolism significantly influence men’s attitudes toward gold jewellery acquisition.
From the perspective of the Theory of Planned Behaviour, attitudes symbolize personal evaluations in terms of buying gold jewellery. The attitudes of females have been more emotional and expressive; they relate to gold jewellery in terms of aesthetic appeal, emotional attachment, and use based on various occasions, whereby gold jewellery is regarded as a symbol of identity, tradition, and personal significance. The attitudes of males have been more rational and functional; they relate to gold jewellery based on evaluations held in relation to investment merit, economic security, and responsibility towards society; gold jewellery is considered to be tangible with merit based on foresight, economic stability, and prestige by males in society.
FINDINGS
The study finds that attitude plays a central role in shaping gold jewellery purchase decisions among both men and women, though the nature of this attitude differs significantly by gender. Women’s attitudes toward gold jewellery are predominantly emotional, aesthetic, and symbolic, while men’s attitudes are largely rational, financial, and responsibility-driven.
In the case of women, gold jewellery purchase is mostly driven by its aesthetic appeal, expression, emotional associations, and their cultures. Jewellery is considered a mere adornment and is also regarded as an expression of their identities, their cultures, milestones, and associations. Use of jewellery for occasion-specific purposes and its versatility of designs also accentuate positive attitudes since jewellery is believed to be appropriate for occasion-specific as well as daily use. Trust of brands and emotional satisfaction amplify positive purchase intentions of women.
Conversely, the attitudes of males are founded on the principles of investment value, security, and social responsibility. The primary view of gold jewellery tends to pertain to its safe and secure aspects of value, representing the ideals of foresight, steadiness, and readiness to raise a family. The social status impression for males is subtle and conservative, where purity, authenticity, and trust are paramount. Preference for traditional family jewellers further reflects trust-based and obligation-oriented decision-making.
Overall, the findings confirm that while both genders exhibit positive attitudes toward gold jewellery, women’s attitudes are expressive and culturally driven, whereas men’s attitudes are utilitarian and economically motivated. These distinct attitude patterns validate the applicability of the Theory of Planned Behaviour, highlighting attitude as a critical determinant of gold jewellery purchase intentions among men and women.
REFERENCES
- Yang, M. (2023). Golden Choices: Analysing Consumer Buying Behaviour for Gold Jewellery in Coimbatore. American Journal of Management and IOT Medical Computing, 2(1). https://doi.org/10.64751/
- Mary, J. K. A., & Ganesan, C. (2023). Women’s Attitudes on Gold Jewellery Investments and the Factors That Influence Such Attitudes. View of “Women’s Attitudes on Gold Jewellery Investments and the Factors That Influence Such Attitudes”
- https://doi.org/10.64751/ GOLDEN CHOICES: ANALYZING CONSUMER BUYING BEHAVIOR FOR GOLD JEWELLERY IN COIMBATORE View of GOLDEN CHOICES: ANALYZING CONSUMER BUYING BEHAVIOR FOR GOLD JEWELLERY IN COIMBATORE
- https://doi.org/10.51983/ajms-2016.5.2.1207 A Study on Perception of Consumers towards Gold Jewellery in Sivakasi. View of A Study on Perception of Consumers towards Gold Jewellery in Sivakasi, Tamil Nadu
- Deloitte Report: 86% of Indian Consumers View Gold & Jewellery as Wealth Creation Instrument
— highlights investment perception and dual role of jewellery as both adornment and asset, directly linking to investment & financial security beliefs. - A Study of Buying Behaviour of Customers Towards Branded and Non-Branded Gold Jewellery with Reference to Meerut City. (2016). Journal of Commerce and Trade , 11(1), 109-114. https://doi.org/10.26703/jct.v11i1.235
