Dubai Gold & Jewellery Group (DGJG), the trade body for the gold and diamond jewellery sector in Dubai, announced the re-opening of iconic Deira Gold Souk, in accordance with the directives by the Supreme Committee of Crisis and Disaster Management. Starting April 26, the retailers within the souk will be operating at reduced trading hours - retail stores to operate from 11 AM to 9 PM and wholesale offices to work from 10 AM to 5 PM.
Prior to the opening, Dubai's Al Ras Naif, Deira Gold Souk and individual stores have completed an extensive sterilization program with stringent guidelines and to ensure DED retail protocols within strict health and safety guidelines.
Commenting on the opening announcement, Tawhid Abdullah, Chairman of DGJG said, “We express our gratitude towards the leaders of this country, all the Government entities, Dubai Police, CID and all the first responders who worked tirelessly to get us to this point. The UAE has led by example and left no stones unturned before easing the COVID-19 restriction and opening shopping malls, markets and commercial outlets. It is a good step towards safely opening the economy and as an industry we are all gearing up to meet the Govt. expectations and consumer confidence. It is our collective effort aimed at successfully implementing the retail protocol mandated by Dubai Economy in a manner that is both safe and effective, as we prepare in stages in the coming months to work towards 100% capacity operations.”
Also, with the partial opening of malls, there are more than one retail touchpoints for the gold and diamond jewellery consumers. Commenting on behalf of the mall based jewellers, Mr. Amit Dhamani, Joint Secretary of DGJG said, “We are delighted to welcome back our customers and patrons of our businesses. Along with high-street stores, various fine jewellery boutiques and large Jewellery brands that have presence in Dubai based malls are also imploring towards the safety and precaution measures as per the directives. This is along with physical distancing measures that each Jewellery retailer has planned. We are excited to see how our efforts will pan out during this new way of retailing.”
As per the guidelines, this stage of retail operations will allow retailers to employ 30% of the workforce and customers, that will enable the correct practice of physical distancing norms. Sanitizers, Masks & Gloves will be made available for all staff and everyone including customers to minimize any risk within the outlets.
Mr. Chandu Siroya, Vice Chairman of DGJG, added by saying, “Dubai gold and diamond jewellery retailers are doing a great job on by following all the required precautions in sync with the Govt. advices. They will operate in accordance with all guidelines as laid by Dubai Government to ensure the health and safety of our retailers and customers. From adhering to the timings to sanitizing Jewellery pieces, we are working at all levels to ensure that customers feel safe to shop.”
While all the efforts are to operate with highest safety measures, Dubai Gold & Jewellery Group retailers are also looking at ways to work on customer experience where the focus will be to make them confident of their retail environment.
When asked on the expected sales, Mr. Abdul Salam KP, Treasurer of DGJG, commented, “From last year's Akshaya Tritiya to this years's Akshaya Tritiya, gold prices are up about 35% in a span of one year and is expected to further rise. With the opening of the retail outlets, we expect gold jewellery demand to pick up as Gold has proven to be a safer investment option in this market condition. Historically the value of gold Jewellery has appreciated during uncertain times, pandemic, or an economic slowdown. This can be easily analyzed by studying the last 20 years, as gold price is hiked by 500 per cent.”
DGJG will also guide the retailers to debrief all working staffs how to monitor customers within the souk area or outlets to ensure all standards are met and focus on cutting short the impact of COVID-19.