LONDON, Feb. 9 /PRNewswire/ -- Women across the globe agree unanimously that a key reason for buying gold jewellery as a gift is "because it is everlasting", an attribute that makes it very apt for a Valentine's Day gift, according to participants in World Gold Council's (WGC) 2008 jewellery survey. The survey was conducted by independent research firm, GfK, in the key gold jewellery markets of India, China, Saudi Arabia, Italy, Turkey and the USA. 7,500 females aged between 15 and 65 were asked about their reasons for buying and favourite occasions for receiving gold jewellery, with 76% agreeing that "it is everlasting" and Valentine's Day emerging as a key date.
Philip Olden, Managing Director, World Gold Council, commented on the survey findings:
"Our survey shows that Valentine's Day is an important occasion for receiving gold jewellery for women in different regions around the world. The higher gold price has added to gold jewellery's desirability despite these challenging economic times. Gold's perceived value and enduring emotional appeal are not mutually exclusive and set gold apart from other traditional gifts and apparently, holds the key to women's hearts on Valentine's Day.
"With two-thirds of global gold demand coming from the jewellery sector, understanding our consumer is crucial to both the gold jewellery trade and the gold market as a whole. With retailers under severe financial pressure, unlocking the consumer purse through effective promotion of gold jewellery is critical. The continuous efforts of World Gold Council and our partners from the gold trade in the key jewellery markets have been notable in keeping this ancient adornment desirable and relevant in today's competitive consumer market."
Even the younger segment of those surveyed, who are typically more interested in spending money on gadgets such as mobile phones than spending their disposable income on jewellery, appreciate the romance of gold jewellery with 30% stating they wanted to receive it for Valentine's Day.
The rising gold price over recent years has increased gold's desirability as a gift, with women appreciating that they are being given something of lasting value. Women in Turkey and Saudi Arabia are particularly shrewd on this point, with 65% and 70% respectively citing that "gold will not lose its value" as a key reason for buying gold as a gift. In contrast to gold jewellery, which has clear financial value, other luxury consumables were viewed as having short-term aesthetic appeal and therefore lacked the investment value and the longevity of gold.
Women in the USA and China cite a more romantic sentiment behind buying gold as a gift, with 56% of those surveyed in both countries agreeing that gold "is a symbol of love".
In India it appears women regard gold as an indicator of emotional ties, with 81% claiming that the amount spent on gold jewellery reflects how valued someone is.
Other key occasions on which women like to receive gold are birthdays, wedding anniversaries, weddings and religious festivals, with women also buying gold jewellery for themselves on these occasions.
Christina Sami, Head of Marketing Development at WGC, added: "We are not in the business of advising men on gift purchases, but these findings speak for themselves!"
For further information or to receive an executive summary:
Matt Graydon, Head of External Relations, World Gold Council, on + 44 (0)207 826 4716, or email matt.graydon@gold.org
Rebecca Clark, Capital MS&L on + 44 (0) 207 307 5342, or email rebecca.clark@capitalmsl.com
Notes to Editors:
World Gold Council marketing programmes are built on a foundation of understanding of consumer attitudes and behaviour, enabling the gold industry to reinvigorate the promotion of gold jewellery.
World Gold Council
The World Gold Council (WGC), a commercially-driven marketing organisation, is funded by the world's leading gold mining companies. A global advocate for gold, the WGC aims to promote the demand for gold in all its forms through marketing activities in major international markets. For further information visit www.gold.org.
