Jewellers in Qatar are expecting an uptick in sales in the roundup to the upcoming Diwali festival on October 30, according to market sources.
“Footfall in our shops has increased and there have been a lot of people making inquiries since we launched our promotion for the Diwali festival,” Malabar Gold & Diamonds regional head Santhosh TV told Gulf Times yesterday.
Diwali (or Deepavali) is the festival of lights, celebrated by millions worldwide. Many expatriates in Qatar also believe the festival is an auspicious time to buy gold and jewellery, as well as other gift items.
Because of the festivities, Santhosh said the market “will become lively,” adding that in the previous week, Malabar experienced a surge in sales of diamond jewellery.
“We already have a significant number of bookings for gold and we expect to have good sales by the end of the month. Compared to last year’s festival, we are expecting sales to increase by 20% to 30%.
Definitely, the Diwali festival will help increase our sales, especially after the summer lull,” he stressed.
The same sentiment was expressed by Rajesh Devkota, who manages Sky Jewellery at the Gold Souq at Souq Waqif. He said they are expecting a 20% to 25% increase in sales during the Diwali Festival.
Aside from the festival, some staff managing other shops at the Gold Souq agreed that the cool months ahead will start attracting more tourists to Qatar. “The souq is a tourist destination and our sales are also dependent on foreign visitors, aside from Qataris and the resident population,” a staff said.
Mohamed Rasheed al-Hashmi, hypermarket manager at LuLu D-Ring Road, said they are offering a range of promotions in relation to Diwali.
The promo items include incense sticks, brass incense holders, tea light candles, copper and clay pots, among others. There is also a stall dedicated to a variety of sweets and spicy chips.
“This is a festive occasion and we are expecting many customers. Compared to last year’s Diwali festival, we are expecting a 25% to 30% increase in sales during the celebrations,” he added.