Market survey conducted by AC Nielson in association with Dubai Gold and Jewellery Group, Dubai Multi Commodities Centre and World Gold Council has revealed that the tourists who throng Dubai for holiday, are the biggest buyers of gold.
Foreign buyers snatched 52 share in gold sales while 43 percent purchase was recorded by locals.
Various shopping festivals and other promotional events have certainly helped the sales figures as the events have a share of almost two-third of annual sales.
Significant finding is that non branded jewellery has left branded rivals way behind with 84 percent of sales going to them.
Colin Griffith, Executive Director for Gold and Precious metals at Dubai Multi Commodities Centre (DMCC), said that they would be working closely in association with DGJG and WGC to get the most out of the findings of the survey.
Sales breakup gives an interesting fact with clear preference for 22kt gold jewellery, particularly among the South Asian emigrant while 'Eighteen-karat jewellery is mainly bought by the modern generation of consumers and European emigrant.
The Dubai Gold and Jewellery Group, Dubai Multi Commodities Centre and World Gold Council plan to make research survey an annual exercise.
marketing@alchempro.com
