Gold Jewellery apt Valentine Gift for Everlasting Qualities

Women across the globe agree unanimously that a key reason for buying gold jewellery as a gift is “because it is everlasting”, an attribute that makes it very apt for a Valentine’s Day gift, according to participants in World Gold Council’s (WGC) 2008 jewellery survey.

The survey was conducted by independent research firm, GfK, in the key gold jewellery markets of India, China, Saudi Arabia, Italy, Turkey and the USA. 7,500 females aged between 15 and 65 were asked about their reasons for buying and favourite occasions for receiving gold jewellery, with 76% agreeing that “it is everlasting” and Valentine’s Day emerging as a key date.

Lama Al Saheb, Head of Marketing & PR – M.E. Region, World Gold Council, commented on the survey findings:

“Our survey shows that Valentine’s Day is an important occasion for receiving gold jewellery for women in different regions around the world. The higher gold price has added to gold jewellery’s desirability despite these challenging economic times.

Gold’s perceived value and enduring emotional appeal are not mutually exclusive and set gold apart from other traditional gifts and apparently, holds the key to women’s hearts on Valentine’s Day.

“With two-thirds of global gold demand coming from the jewellery sector, understanding our consumer is crucial to both the gold jewellery trade and the gold market as a whole. With retailers under severe financial pressure, unlocking the consumer purse through effective promotion of gold jewellery is critical.

The continuous efforts of World Gold Council and our partners from the gold trade in the key jewellery markets have been notable in keeping this ancient adornment desirable and relevant in today’s competitive consumer market.”

Even the younger segment of those surveyed, who are typically more interested in spending money on gadgets such as mobile phones than spending their disposable income on jewellery, appreciate the romance of gold jewellery with 30% stating they wanted to receive it for Valentine’s Day.

The rising gold price over recent years has increased gold’s desirability as a gift, with women appreciating that they are being given something of lasting value. Women in Turkey and Saudi Arabia are particularly shrewd on this point, with 65% and 70% respectively citing that “gold will not lose its value” as a key reason for buying gold as a gift.





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Damas Joins Hands With WGC To Offer Enticing DSF Deals

Damas, the leading international jewellery retailer in the Middle East, in association with World Gold Council is offering 20kg gold in retail promotion during the 32-day Dubai Shopping Festival (DSF).

On every purchase of gold and jewellery worth Dh500 at one of the participating Damas stores, the customer will be entitled to one raffle coupon and enter into a daily draw to win gold. This mega promotion offered during the biggest regional shopping bonanza will give five shoppers the chance to win 100gm of gold every day and four lucky winners will also get an opportunity to win the grand prize of 1kg gold each.

Tawhid Abdullah, Managing Director of Damas, said: "During DSF, we witness at least 40 per cent increase in retail activities across our outlets. Damas as a support sponsor of DSF has once again entered in this annual event with the commitment to support the initiatives of Dubai Government to promote tourism in the city. Thus on this occasion, on behalf of Damas, I wish to extend our felicitations to the DSF authorities and the government of Dubai for holding this mega event with a lot of success year-after-year and supporting our retail initiatives.”

He added Damas has always created a lot of buzz during DSF by providing shoppers a rewarding experience and an opportunity to win big. “Though the world is passing through an economic meltdown but I’m sure more and more people will buy gold as it still is considered to be the safest investment,”he said. “Being an enthusiastic partner of the Dubai government, every year during DSF we reward our shoppers through great offers and this year is no different. The festival has grown rapidly in size and scope to become the largest and most dynamic festival of its kind in the world. It organizes hundreds of events, which are enjoyed by people of all ages. Thus once again we are offering the best promotions to benefit our patrons during this shopping extravaganza.”

Dubai has earned the title of ‘City of Gold’, and the continuous marketing efforts of retailers such as Damas and the World Gold Council and the annual promotions of its partners play a large role in creating awareness of this prestigious title locally, and internationally. The council has worked closely with the DSF authorities to promote Dubai as the main centre of gold in the region, since the launch of DSF.




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