Internet Investment Gold in India
Online gold market India India has embraced online retailing across different categories. Digital and social activity plays an increasingly important part in the purchase journey for gold. In urban India, consumers browse online/mobile apps before making purchases; they use online blogs and social media for ideas and inspiration. And mobile wallets/apps have played a key role in the growth of Internet Investment Gold (IIG) in India. The Covid-19 pandemic has disrupted the brick and mortar business model of Indian gold retailers and has become a catalyst for online channels to boost sales. In this report focuses on, 1: the growth of IIG, 2: the barriers to online gold purchase and opportunities to grow the online market & 3: how retailers are adopting a digital strategy post Covid-19. In the context of the report Somasundaram PR, Managing Director, India, World Gold Council (WGC) said, “Online retail adoption accelerated during Covid-19 across categories. Though relative