Monday, 8th January 2007 (3394 views)

Gold sales during the Dubai Shopping Festival (DSF) are set to break predicted levels, according to the Dubai Gold & Jewellery Group (DGJG).

DGJD is expecting to add a further 15 per cent to its initial forecasts of gold sales topping AED 800 million (£112.7 million) during the festival as jewellery outlets continue to experience strong trading as their new collections prove popular with shoppers.

Tawhid Abdullah, managing director of DGJG, explained: "Sales have exceeded our expectations this DSF. Considering a year on year growth of 70 per cent reported by 350 participating member outlets."

He added: "Customers are clearly motivated by our DSF offers giving them a chance to win one kilo gold daily and also the stock of new designs in stores."

In 2005, the 13-day long festival resulted in sales at jewellery outlets worth a total of AED 279 million (£39.3 million) worth of pieces, while the first 13 days of the current DSF has seen turnover for the stores increase to around AED 440 million (£62 million).

Dilip Popley of Popley Jewellers said: "The ongoing DSF promotions have helped increase retail sales and shoppers are making a beeline to buy jewellery."

"Tourists are making use of this opportunity to get the best deals in latest designs of gold and diamond jewellery; they also purchase the special DSF pendant as a souvenir to carry home," he added.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.