Gold shops brace for God of Wealth Day crowds

Jewellery companies have stocked up on various gold items to meet a surge in demand on the God of Wealth Day on the 10th day of the lunar year, which falls on February 10 this time.- Photo courtesy of PNJ

Jewellery companies have stocked up on various gold items like traditional figurines of the God of Wealth inscribed with the words Phuc (Happiness), Loc (Prosperity), Tai (Wealth), and Tho (Longevity), the 12 zodiac animals and lucky charm bracelets made of 24k and 18k gold.

Since it is the Year of the Tiger, the animal also widely features on gold products.

Phu Nhuan Jewelry Joint Stock Company has launched Kim Dan Dai Cat figurines (large size) made of 24k gold-plated alloy inlaid with rubies, Kim Dan Thinh Vuong figurines (small) made of 24k gold and rubies and weighing half a tael and Kim Dan Sum Vay made of 24k gold-plated alloy with cubic zirconia stones, available for the first time in Viet Nam.

PNJ has also launched a limited edition set of six gold pieces, Xuan An Khang, charm bracelets with the word ‘Lucky’ inscribed, and gold pieces weighing 0.05-0.1 tael in designs inspired by the symbols of coin, carnations, apricot flowers, swallows, and others.

Le Tri Thong, CEO of PNJ, said the economy was hit hard last year, and consumers cut spending on most items but “We see that from the end of last year sales have been growing very well.”

Besides, with the volatility in the securities market, investing in gold is a good option, he claimed.

With gold prices much higher than in past years the company has a wider price range than last year for affordability, he said.

DOJI has stockpiled 380,000 gold items for its 2022 Gold Festival that runs from February 8 to 10, an increase of 15 per cent from last year, with the main products including 24k items in blister packs weighing 0.1, 0.2 or 0.5 tael and gold coins inscribed with images of the god Caishen.

SJC has a gold series a lucky gold series this year, including figurines of tigers made of 24k gold in 1 tael and 0.1 tael, and a 0.1 tael 24k bullion inscribed with images of tigers and images of the God of Wealth, Maitreya and others.

Others like Sacombank Jewelry Company and Phu Quy Gold, and major gold shops across the country too have stoked up.

Thong said: “We have made plans. In areas designated green (low risk of COVID) and yellow (medium risk) zones where we can allow customers to shop in person, we will create more customer experience spaces and offer them more choices.

“In the orange or red (high risk and very high risk) areas, we have online sales plans to help customers feel secure about transacting with us.”

Tran Nguyen Phi Long, head of retail marketing at PNJ, said, “At our physical stores, we will open more counters on peak days to reduce waiting time.

“On our online sales channel, we have delivery plans in place to ensure delivery is made on the God of Wealth Day, and in some areas we can deliver within three hours.”

Gold and jewellery shops also said they plan to open earlier and close later than usual to cope with the rush.