Young Brits ditch shares and shares for gold bars, luxurious watches and vinyl information
Gen Z and Millennials are ditching ‘traditional’ investments focusing more on collectable items, such as luxury handbags and sports memorabilia.
Young Brits are turning their backs on traditional stocks and shares, opting instead for gold bars, posh watches, and even vinyl records as they look to cash in on alternative investments. A survey of 1,000 Gen Z and Millennials revealed that 52% are moving away from ‘traditional’ investment paths, choosing to focus on collectables like luxury handbags and sports memorabilia.
The study found that four in 10 reckon gold is the golden ticket to future wealth, with over half believing gold will hold its value over time, and 38% under the impression demand will keep going up. Another 32% think crypto currency could be a long-term winner.
The research was commissioned by IRN-BRU to mark its Golden Girder giveaway. In this golden opportunity, four lucky fans will bag an 18-carat golden one-inch girder, worth £10,000, affectionately known as the ‘One Inch Wonders’. These can be found by scanning a QR code on cans or bottles in supermarkets.
To kick off the search, rush hour commuters were gobsmacked to see a giant golden girder hanging next to one of Scotland’s busiest motorway sections, courtesy of the brand. Dangling from the top of a crane, the large girder sported a cheeky message that read – ‘Size doesn’t matter, it’s what you do with it that counts’.
Kenny Nicholson at IRN-BRU shared: “Our poll reveals young Brits reckon the real money is in the things they genuinely love like trainers, handbags, vinyl and watches, rather than the boring world of finance – and many are already building a collection.
“We’re here to help and know lots of savvy savers would put their limited-edition ‘One Inch Wonder’ aside for the future as they see their prize’s potential for growth. It just goes to show, size doesn’t matter.”
Almost half of Gen Z believe they are more financially astute than older generations when it comes to increasing their wealth. Four in ten attribute this confidence to being more tech-savvy, while 42% credit their access to online financial information.
The study revealed that 16% of Gen Z and Millennials have already invested in gold, with a further 56% eager to join the trend soon. Interestingly, a quarter believe that unconventional investments could yield higher returns. For instance, 9% are banking on their vinyl collections appreciating in value.
However, there is a sense of missed opportunities among some with 59% regretting not investing sooner in certain areas; cryptocurrencies (34%) and gold (16%) topped the list of investments they wish they’d capitalised on earlier.
Quickly becoming a collector’s item, experts predict IRN-BRU’s 18-carat gold girder will double in value by 2040 if the price of gold continues its upward trajectory.
Kenny added: “There’s three golden girders still out there and excitement is reaching fever pitch as Brits rush to get their hands on one.”
