Dubai: Sales in the jewellery sector have continued to experience a significant increase in Dubai, with the jewellery retailers putting forth vigorous discount policies to attract locals in the UAE. The relocation is in response to the evolving consumer trends and high world gold prices.

According to industry sources, jewellers are turning to promotional tools like lower or no making charges to spur demand. These promotions are already working in the stimulation of buying,g especially among the locals who are increasingly contributing to the market.

The change of strategy is based on the decline in sales with tourists, so now retailers should concentrate on the local market. Consequently, resident purchasers have turned out to be a major support of demand in the Dubai gold retail market.

Shift Toward Resident-Focused Sales Strategies

Retailers in Dubai are rapidly changing their pricing models to fit the purchasing behaviour of the residents. Reduction of making charges, one of the limited elements of pricing gold flexibly, has enabled jewellers to provide perceived value without affecting the underlying base gold rate, which is set by the global markets.

Besides discounts, numerous retail outlets are also offering time-sensitive offers and packages to attract more customers. The strategies are already helping to draw more customers to the streets, and several retailers have reported that the number of people visiting the store has been on a steady increase, as observed by the residents in pursuit of better offers.

According to market analysts, these discounts targeted at consumers are positively influencing consumer confidence in the global marketplace, despite high gold prices. The seasonal demand,d with the assistance of the forthcoming cultural and festive events, ts is also likely to give extra impetus to sales.

Analysts believe that with the existing pricing policies, the gold industry in Dubai could still experience growth in the next few months, but the growth will be fuelled by the local population and not foreign tourism.