From April 26, retailers began operating from 11am to 9pm, while wholesale offices are open from 10am to 5pm.
Dubai Gold & Jewellery Group (DGJG), the trade body for the gold and diamond jewellery sector in Dubai, has announced the re-opening of the iconic Dubai Gold Souk in Deira, in accordance with the directives by the Supreme Committee of Crisis and Disaster Management.
From Sunday, April 26, the souk’s retailers began operating at reduced trading hours, with retail stores to operate from 11am to 9pm and wholesale offices to work from 10am to 5pm.
Prior to the reopening, Dubai’s Al RasNaif, Deira Gold Souk and individual stores have completed an extensive sterilisation programme with stringent guidelines and to ensure the Dubai Department of Economic Development’s 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 stone 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 industr,y we are all gearing up to meet the government’s 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 per cent capacity operations.”
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, 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 people to follow safety and precautionary 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 accommodate 30 per cent of the workforce and customers, that will enable the correct practice of physical-distancing norms. Sanitisers, masks and gloves will be made available to all staff and customers to minimise any risk of transmission of Covid-19 within the outlets.
Chandu Siroya, Vice Chairman of DGJG, added: “Dubai gold and diamond jewellery retailers are doing a great job of following all the required precautions in sync with the government’s advice. They will operate in accordance with all guidelines as laid out by Dubai Government to ensure the health and safety of our retailers and customers. From adhering to the timings to sanitising 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 improve customers’ experience where the focus will be to make them confident of their retail environment.
When asked about expected sales, Abdul Salam KP, Treasurer of DGJG, commented: “From last year’s Akshaya Tritiya to this year’s Akshaya Tritiya, gold prices are up about 35 per cent 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, a pandemic, or an economic slowdown. This can be easily analysed 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 employees about how to monitor customers within the souk area or outlets to ensure all standards are met and focus on mitigating the impact of Covid-19.
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