A Study of Factors Affecting the Change in Buyers’ Behavior Towards Purchase of Gold in Pakistan

Abstract

Everywhere in the world people, under different motives, like to purchase gold or gold ornaments, especially women. Gold has occupied prestigious place in human life. Consumers buy gold for self-liking, at wedding time, sometimes for investment purpose and for many other reasons. The main purpose of conducting this research is to study the factors affecting consumer buying behavior of purchasing gold jewelry in Pakistan. The objective of the study is to get insight about the consumer buying behavior and factors influencing it, such as cultural, inflation, law and order situation, increasing competition and customer loyalty etc. The primary data was collected through questionnaire and was and analyzed using simple SPSS method. The study was restricted only to Karachi, the largest city of Pakistan and especially the area covered in this research is Clifton and Defense Housing Authority (DHA) which comes in the jurisdiction of the cantonment board Clifton (CBC). Our sample size is 200 and the technique we used is convenient sampling. Through our findings, we concluded that inflation is the main factor affecting the consumer buying behavior in purchasing gold jewelry. Gold is an expensive commodity and while purchasing it, the consumer is influenced by few other variables as well.