In an exclusive interaction with MediaBrief, Arti Saxena, Director and Head of Marketing, India at the World Gold Council, speaks about the Council’s mandate to drive gold demand, the consumer insights that shaped the ‘Moment is Gold’ campaign, and the shift in gold’s relevance among younger generations. She also shares the Council’s creative collaboration with BBDO India, the long-term media strategy targeting Gen Z and millennials, and upcoming plans to reposition gold as a compelling investment asset.
Saxena kicks off the conversation by speaking about the role of the World Gold Council. She explains, “From the Council’s perspective, our mandate is to increase the demand for gold. We heavily invest in research, and by research I mean large-scale consumer surveys to understand barriers, triggers, and emerging trends. This work is widely published for the industry to use.
“Apart from that,” she says, “we also do a lot of work around the gold industry—whether it’s supply, demand, or any other numbers, they all come from us. Every three years we refresh our research to identify gaps, and Moment is Gold is a campaign actually based on those insights.”
Arti Saxena on recent market trends
Speaking about recent market trends and the shifting dynamics of gold demand, Saxena shares, “If we look at gold demand over the last 10 years (till 2023), it was largely stagnant. Jewellery was around 80% of the total demand and investment about 20%. In 2024, because of the historic peaks in gold prices—we saw 40 peaks last year, which was unprecedented—the equation changed.
“Jewellery demand dropped to about 70%, while investment rose to 30%. In Q2 of this year, jewellery demand actually declined by 17% in tonnage, even though value terms rose by 20%. So, from the commercial side, demand has been either stagnant or declining in jewellery. This is a big concern for us.
“For millennials and Gen Z, this constant discounting has eroded the emotional connect with gold. Our consumer surveys confirm this lack of relevance, especially among Gen Z. Back in 2019, our survey had shown early signs of this, which led us to launch our You are Gold campaign. Moment is Gold is the next step in this journey, shaped by consumer insights and demand-side challenges,” she adds.
From traditional occasions to everyday moments
Discussing changing consumer behavior, particularly among younger audiences, Saxena pointed out how traditional patterns of gold buying no longer align with the lifestyle and mindset of Gen Z. She says, “If you look at traditional gold purchases, they are tied to key occasions—Dhanteras, Akshaya Tritiya, weddings, anniversaries, childbirth, or graduations. Gold plays a significant role here. But when we studied Gen Z consumers, we realized they live in the ‘now.’ They’re seeking instant gratification. They travel, spend freely, and are moving from a savings mindset to a consumption-driven economy.”
She continues, “This made us realize that life is not just about big occasions—it’s also made up of smaller, meaningful moments. Whether big or small, these moments are worth celebrating. And if they deserve to be celebrated, they should be celebrated with something as pure and beautiful as gold. This insight formed the genesis of the Moment is Gold campaign.”
Creative partnership with BBDO and Josy Paul
On working with BBDO India and Josy Paul, Saxena said, “It was absolutely fantastic. We run a very rigorous pitch process at the World Gold Council. Earlier this year, BBDO won the mandate unanimously. The team, led by Josy Paul, has been extremely passionate.”
She continues, “When you look at the campaign closely, you’ll notice very unconventional thinking—not just in the concept and strategy, but also in how jewellery is portrayed. One of the insights we uncovered was that gold jewellery often ends up locked away. That led to our ‘life beyond the locker’ philosophy.
“In this campaign, we’ve reimagined jewellery styling. We worked with the best stylists to show how gold can be worn with diverse outfits, styled in bold, unconventional ways. The idea is to celebrate gold as something you love, something full of emotions—so why not wear it, flaunt it, and make it part of your everyday life?
“Thanks to Josy and the BBDO team, we’ve been able to think very differently about how jewellery can be presented,” Saxena added.
Media strategy and campaign amplification
The campaign launched in the run-up to the festive season, but Saxena stressed that it is designed for the long term. “Yes, the timing is by design. But this campaign is not limited to festivals—it’s a multi-year campaign that goes beyond traditional occasions to include all kinds of meaningful moments.”
“We’re targeting millennials and Gen Z,” says Saxena, “who together make up nearly 65% of India’s population. So our strategy is digital- and social-first. The lion’s share of our budget has gone there. We’re also using television, but very selectively—focusing on programs with high youth viewership, like reality shows. We’ve added a small burst of print during the festive season, because print carries credibility at this time of year.”
For the World Gold Council, digital activations go beyond traditional platforms. Explaining this, she says, “Digital is much more than Google and Facebook. We’re using CTV (Connected TV), OTT platforms, and tech-enabled campaigns with dynamic creative optimization—serving different ads to different audience cohorts to maximize engagement.”
On how engagement fits into the strategy, Saxena says, “Engagement is critical. On social media and through tech-enabled campaigns, we’re using dynamic creatives tailored to different cohorts. These ads are designed not just for viewership, but also to encourage interaction and build a deeper connect with audiences.”
Expectations from the campaign
Sharing the broader vision behind the campaign, Saxena emphasised the Council’s long-term goals and its dual focus on reshaping consumer perceptions and supporting the industry.
She says, “We have high expectations. For us, it’s always a dual play. First, our primary audience is young consumers—millennials and Gen Z. Through this campaign, over the next few years, we hope to move the needle in terms of how they perceive gold jewellery. We want to reimagine the space gold occupies in their lives and make it relevant again.”
Saxena adds, “Second, our stakeholder is the industry itself. We are partners to the gold industry, and we want them to also think beyond traditional occasions. We’re encouraging bold choices in jewellery and challenging old stereotypes.
Citing an example she recalls, “A decades ago, people avoided wearing gold jewellery late at night because of safety concerns. But today, consumers carry expensive gadgets, handbags, and cosmetics without hesitation. So why hold back with gold? We want to break these stereotypes and move the industry forward.”
Looking beyond jewellery: gold as investment
While the current campaign spotlights gold jewellery, Saxena noted that the Council is equally focused on strengthening gold’s position as a strategic investment asset. She explained, “While 70% of demand comes from jewellery and 30% from investment, at the Council we give equal weight to both. While Moment is Gold is focused on jewellery, we are simultaneously working on a campaign around gold as an investment.”
She wraps up by saying, “In the last six months alone, gold has risen by 26%. That’s a compelling story for investors. Gold is an essential part of a portfolio—it’s a diversifier. So it’s very important for us to build the strategic case for gold as an investment asset. You’ll hear more from us on this in the coming months.”
