Common demographics of gold buyers

Posted by daniel rosenfeld

The trends in gold trading are interesting and do not fluctuate a lot. As a gold trader it is critical that you understand these demographics in order to do better market segmentation and targeting. Here are the demographics of gold buyers in Bronx.

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Largely demanded those social economic classes

Gold jewelry is very costly and only people with higher levels of income can afford several of them. You will need to trade with those in the upper social economic levels if you want to make significant sales. This is particularly the case when it comes to selling pure gold items and jewelry. Most of the gold buyers in the Bronx are also very selective of what they choose to buy.

However, over 50% of middle class gold buyers in the Bronx go for the coated items or ones with small gold additions. These have the advantage of bringing down the cost to a more reasonable level. If you can target this group and provide them with special designs, you will no doubt have a lot of clients and profit. However, as a marketing strategy, you are encouraged to consider reaching a wider range of clients to be assured of a larger client base.

Most of the traders are middle aged women

Women, when compared to men, prefer gold items because they make them look fashionable. They also tend to go for golden ornaments to stand out. To make more sales, it is advisable to target women more in your business. One trader who convinced me to buy a golden wedding ring argued that his business changed and became more profitable after starting to focus more on middle aged women. You will find that many of them have stable careers and want to feel at their best.

Presently, men are becoming important gold buyers in the Bronx. They mainly want to have golden wedding rings, studs, or time pieces. It is prudent that you stock golden items that are not too feminine in design if you want to get the attention of men.

One cannot forget to take note of couples holding their weddings. About 10% of couples preparing to hold their weddings prefer to use Fgolden rings because they see them as important marks that reflect their commitment. This is a special target that you can utilize to get regular clients. Follow these trends and you will be assured of getting more business.

If you want to find gold buyers in the Bronx area then you must read this ”sell gold” guide before selling anything.

Visit the Luriya Bronx Gold Buyers page now.

Also Read:

Gold Buyers VS. Pawnshops in NYC, The Low-down

Avoid Fraudulent Gold Buyers around Manhattan

Scrap Gold Buyers - An Overview

Topics: Gold

March 17, 2017