Ashraf Rizvi, Founder and CEO, Gilded
Now gift with the glitter of gold
By: Ashraf Rizvi, Founder & CEO – Gilded
“India’s affinity for gold is the foundation on which Gilded was founded. While gold forms an integral part of many Indian traditions, it is cumbersome and in today’s age a risk to one’s health to buy, especially due to the crowds during busy festivals. The year-end is already witnessing festivities galore, with Navratri, Dussehra, Dhanteras, and Diwali rolling in one after the other. We, at Gilded, understand the importance of buying gold on an auspicious occasion, and offer authentic physical Swiss gold digitally to Indians to buy and hold as an heirloom and store of value, and also gift digital gold to loved ones.
The new Gilded app has been downloaded over 50,000 times since its launch in July 2021 and we have nearly a quarter of customers making multiple purchases with many starting out with as little as a gram and then increasing their gold purchases over time. A Gilded customer holds an average of greater than 1 gram gold in their account. Many Gilded customers have made use of the convenient gifting feature. There has especially been significant traction from urban cities such as Delhi, Hyderabad, and Chennai.
With the streamlined Send feature introduced on the Gilded app, we are seeing increased usage of this feature month over month. In our earlier avatar as Digital Swiss Gold, we saw a significant increase in gold sales during the days leading up to Akshaya Tritiya in May. This clearly indicates that Indians find digital gold to be a safe and attractive purchasing and gifting option, and we expect to see a similar upward trend this time as well.
Gen X and older generations tend to be more inclined towards spending on gold during festivals. Digital gold is appealing to generations across, be it Gen Z, millennials, or older generations, as it allows Indians to marry traditions with a digitally savvy lifestyle. Indians can easily buy Gilded gold through a mobile app with minimal effort and gift it to loved ones across the country to celebrate the auspiciousness while saving 6-10% as compared to published Indian gold prices. The purchase can be made right from the comfort of their homes and without having to risk themselves by going to retail outlets. This is also a key advantage during a time when most families might still not be able to gather for celebrations due to the pandemic and travel restrictions.
Given the festive season also marks prosperity, it is a great time to take a step towards financial freedom and begin building wealth by conveniently investing in gold digitally. Gilded digital gold can be bought in affordable fractions, enabling a larger part of the population to own mobile, functional and accessible precious gold as their property.”
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Copyright © 2014 - 2021 The Global Indian New Network (TGINN)