Dealers: It does not include gold jewelry.. And officials in the sector referred it to competition and marketing old models

Outlets offer value-added offers and discounts on “jewelry” of up to 50%

Outlets confirmed that price cuts do not affect the profit margin in jewelry.

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Recently, jewelry trade outlets in Dubai and Sharjah have offered offers on jewelry products with discounts of up to 50%, in addition to value-added offers that include giving gifts, including gold coins upon purchase.

And "Emirates Today", in a field tour of the markets of the two emirates, focused most of the discount offers on "diamond" jewelry, with offers for exchange or resale.

Dealers reported that the offers are useful in the sector, but do not include gold jewelry, while officials and experts in the sector attributed these offers to the high competition between outlets and the disposal of stocks of previous models, with the difficulty of recycling them, compared to gold jewelry, which explains why these offers were not presented in a way Similar to artifacts.

In detail, the dealer, Ahmed Samih, said that he "noted the availability of multiple offers in jewelry outlets recently, by offering large discounts or value-added offers, which allows consumers to have various alternatives when buying."

And the consumer, Mona Abdullah, indicated that “discount offers are available on jewelry, especially (diamonds), without the availability of similar offers on goldware products.”

The dealer, Hassan Abdul Karim, explained that he "observed competition between stores in Dubai and Sharjah, for discounts on jewelry products, which is reflected positively on consumers," noting that "the offers increase their benefits if they include gold jewelry, especially since most consumers prefer to diversify products. upon purchase.

In turn, the CEO of "Al Kalouti Jewelry", Tariq Al-Madaqah, said that "the discounts on jewelry, especially those made from (diamonds) are due to the high competition in the markets, targeting outlets to increase their shares of market sales, in addition to the desire to dispose of the stock of jewelry products. One of the old models.

He added that «price cuts do not affect the profit margin in jewelry, but they are useful in disposing of previous models, especially with the difficulty of recycling jewelry products, compared to gold jewelry, as the latter is subject to melting and re-formation again, if not sold, with a loss not exceeding 5 Only %, which explains why similar discount offers were not offered on gold jewellery.

For his part, the director of the “Rikesh Jewelery” company, Rickish Dhann, indicated that “the competition is currently between jewelry selling companies to offer discounts in varying proportions with the aim of stimulating sales and attracting consumers,” noting that “not offering discounts on gold jewelry, due to the fact that the latter is distinguished With a higher profit margin and the difficulty of recycling or disposing of previous seasons models compared to handicrafts.”

He explained that «the stores are turning to those marketing policies for their products, with price discounts on (diamonds) being attractive to them».

And the director of sales at the "Al-Sarraf Jewelery" store, Abdullah Muhammad Ali, said that "the focus of discounts on jewelry provides an opportunity for consumers to choose between the available alternatives."

He pointed to offering discounts ranging between 40 and 50 percent on jewelry products, with offers for added value represented in giving buyers the ability to resell jewelry to the store while retaining rates of up to 70 percent of the purchase value.

For his part, the director of sales at the "Diamond Jewelery" store, Dilip Soni, explained that "the jewelry markets, especially (diamonds) are currently witnessing discounts of up to 50% in a number of companies' outlets," noting that "these offers are largely aimed at attracting Consumers and tourists of different nationalities and increase market shares for sales.”

Most of the offers were focused on “diamond” jewelry, with offers for exchange or resale. 

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