Gold retailers in Bahrain capitalise on high demand, introduce Eid offers
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Report by Zahra Ayaz
Gold has always been considered a valuable and timeless gift, appreciated by people of all ages and backgrounds.
Besides being considered a smart investment, it is often considered an attractive gift choice for those looking to provide a meaningful and lasting present, especially on occasions like Ramadan.
In Bahrain, market experts told The Daily Tribune, Ramadan has driven up the sales of gold, pearl, and diamond jewellery, particularly during the Eid holidays.
They also attribute this pent-up demand to Bahraini women’s strong appetite for gold.
To make the most of this scenario, gold retailers have also come up with various offers and discounts on their jewellery products, such as “Golden Gift,” zero making charges, cashback, lucky draws, and zero deduction on old gold exchange.
Shamlal Ahamed, the Managing Director of International Operations at Malabar Gold & Diamonds, has confirmed this market trend to The Daily Tribune.
“We had increased our jewellery collection in anticipation of the upcoming Eid and Akshaya Tritiya festivals,” he said, adding the collection includes intricately designed gold, diamond, and precious gem jewellery.
In addition, the company has introduced various offers to enhance customers’ shopping experiences. One of these offers is the “Golden Gift” offer, which, he said, assures customers of receiving gold coins on the purchase of gold and diamond jewellery.
Furthermore, he emphasized that the company’s portfolio of gold (22K, 21K, and 18K) and diamond jewellery designs is regularly updated to cater to the constantly changing preferences.
“Even though a large section of customers are expats, our showroom in Bab-Al Bahrain caters exclusively to local Arabs with an exquisite collection of Arabic jewellery in 21K and 18K gold,” he added.
“We also have ambitious expansion plans in the country with more showroom openings,” he added. Malabar Gold & Diamonds, which currently operates seven showrooms in Bahrain, is ranked as the 6th largest jewellery retailer globally.
It’s also worth knowing that the hugely popular Manama Gold Festival will take place from April 13 to May 27 at Souq Al Manama.
According to the Bahrain Tourism and Exhibitions Authority, this year’s edition will have the participation of more than 300 gold shops in Souq Al Manama.
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