Factors Influencing Consumer Buying Decisions on Gold and Gemstone Jewellery in Myanmar

This study aims to delve into the multifaceted determinants that shape consumers’ buying decisions concerning gold and gemstone jewellery in the Myanmar market. The dynamic landscape of the Myanmar gold and gemstone jewellery sector is characterised by a diverse array of marketing strategies and evolving product designs. A spectrum of motivations underpins consumer preferences, encompassing gift-giving, investment and adherence to traditional cultural practices. As such, this research underscores the myriad influences that guide Myanmar consumers in their choices regarding these precious commodities. To achieve an in-depth comprehension of buying behaviour and the sociocultural factors within which Burmese consumers operate, an explanatory research design is adopted. The ensuing quantitative insights synergise with qualitative data collection, enabling a comprehensive exploration of sociocultural dynamics and the intricate interplay among factors impacting buying behaviour. Employing a nonprobability sampling technique, data is collected via self-administered online survey questionnaires. The mixed research method is used to cover quantitative and qualitative research methods; the sample size of 314 respondents, convenient sampling method to collect the data; multiple linear regression analysis method is applied to test the hypotheses by using SPSS software; further enrichment is achieved through in-depth interviews with the five customers by using a semi-structured questionnaire; each exhibiting unique profile across the demographic dimensions is conducted via virtual platforms on Zoom. In addition to probing into the three prominent drivers of buying decisions, namely, cultural significance, investment purpose and buying good fortune – this research embarks upon an exhaustive review of pertinent literature, elucidates the chosen methodological framework and delineates the anticipated contributions of this study. By shedding light on the intricate underpinnings of consumer decision-making in the realm of gold and gemstone jewellery, this research paves the way for prospective advancements for investors from both domestic and international markets. Furthermore, the insights gleaned herein hold the potential to foster skills enhancement and professionalism among industry personnel while also furnishing invaluable support for propelling Myanmar’s gold and gemstone jewellery sector towards sustained economic growth.