NON-BRANDED JEWELRY ACCOUNTS FOR VAST MAJORITY OF JEWELRY SALES IN DUBAI
Tacy, Israel
8 October 2006
Non-branded jewelry accounted for 84 percent of all jewelry sales in Dubai, according to a new industry survey conducted by AC Nielsen and commissioned jointly by the Dubai Gold and Jewellery Group, Dubai Multi Commodities Centre and World Gold Council. Locally manufactured jewelry accounted for 42 percent of sales, trailing significantly behind imports.
The survey found that tourists account for 52 percent of gold and jewelry sales in Dubai, while Dubai residents account for 43 percent.
The industry survey also found that diamond jewelry sales accounted for 35 percent of annual retail turnover.
Retailers say that the local Dubai Shopping Festival, Dubai Summer Surprises and Ramadan initiatives accounted for nearly two-thirds of annual sales.
“These findings reflect the latest trends in Dubai’s gold and jewelry trade, and will assist all market players in strategizing their business opportunities,†explains Chetan Karani, Deputy Managing Director, Dubai Gold and Jewellery Group.
