The online sale of gold and silver items has risen substantially in India. The state of Gujarat alone accounts for 10-15% of the total online sales. Jewelry and coins are the items with highest demand.
Surveys indicate that majority of customers who indulge in online purchase of gold and silver items belong to the age group between mid-20’s and mid-30’s. More surprisingly, 80% of the online customers are males, Kothari noted. Furthermore, over 40% of the items sold online are one-gram gold coins.
According to trade sources, the slowdown in gold market has affected online sales too. But with the advent of festive season, the demand is likely to pick up. The bullion sales through online platform are expected to triple during the current fiscal.
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