Indians big winners of gold during DSF

Jewellery sector managed to pull in greater footfall during the last two weeks

This year’s Dubai Shopping Festival (DSF) saw a large number of tourists at jewellery stores, with Indians being the largest winning community, the Dubai Gold & Jewellery Group said yesterday.

After analysing the raffle coupons, many tourists at the festival were seen to be from the GCC region, Europe, South Asia, Mena, America, CIS and Australia.

The latest list of gold winners showed that 50 per cent of them are tourists whereas the largest winning community is Indian, who represent the larger chunk of the jewellerybuying population.

“The jewellery sector managed to pull greater footfall into the jewellery stores during the last two weeks and this has translated into an increase in the average value per transaction compared with what it was during the previous three months,” said Tawhid Abdullah, Chairman, Dubai Gold and Jewellery Group.

He referred to the “comfortable pricing of gold,” as a major positive factor for incremental business.

Based on an analysis conducted in the middle of DSF 2017, participating jewellery outlets witnessed a considerable growth in sales volume — both in ticket sale and number of transactions — during the group promotion compared to the previous year, explained Abdullah.

“The figure is steadily growing. Thirty-four kilos of gold is a big winning proposition. This year three lucky winners will take home gold every day. Shoppers are eagerly looking forward to this life changing opportunity,” he added.

Abdullah pointed out that since the start of the festival, which is running from December 26, 2016 to January 28, 2017, gold prices have remained affordable. “This has played an instrumental role during Christmas and New Year sale season that led to an influx of visitors to jewellery outlets,” he said. Transit passengers can also participate in the promotion through Dubai Duty Free from all terminals of Dubai International Airport, which is the world’s busiest airport for international passengers with traffic exceeding 78 million passengers.

During the promotion campaign organised by the Dubai Gold and Jewellery Group, customers who purchase jewellery worth Dh500 will be entitled to one raffle coupon.