Local markets are currently witnessing extensive promotions and discounts on diamond jewelry, ranging from 40% to 75%, along with a 'buy-back' guarantee. 'Emarat Al Youm' observed during a field tour of retail stores that these offers and discounts are widespread, both in shopping malls and in open-air markets. Consumers interviewed by 'Emarat Al Youm' stated that these unprecedented offers have significantly increased in recent months in a large number of stores, urging that such extensive discounts should not be limited to diamond jewelry alone but should also include gold jewelry, which is in higher demand. On the other hand, traders and company officials attributed the rise in diamond jewelry offers to marketing policies aimed at boosting sales to capture larger market shares during the holiday and tourism seasons. They noted that the concentration of large offers on diamond jewelry is due to profit margins that allow for such significant discounts, unlike gold, which is difficult to include in similar promotions. Consumer Samer Amin said: 'Offers on diamond jewelry have spread widely and increased significantly in many specialized retail stores in recent periods,' pointing to 'fierce competition' where stores offer 'additional discounts' that exceed those in other stores, which expands purchasing options for shoppers. Consumer Majed Ibrahim described the current discounts on diamonds in markets as unprecedented due to their widespread presence in many stores, and said that discounts are a positive aspect that should be applied to gold jewelry, which is in higher demand. In the same context, consumer Ziyad Abdel Ghani told 'Emarat Al Youm' that 'discounts on diamonds in stores currently range between 40% and 75%,' noting that these are large percentages compared to diamond prices and are unprecedented in terms of discount rates and the number of stores offering them. Abdel Ghani suggested similar discounts for gold jewelry. Consumer Jihad Bahaa agreed that the current wide offers on diamond jewelry in markets are a positive development, but said: 'The benefit would be greater if similar offers were applied to gold jewelry in the same stores.' Sales Manager at 'Al-Saraff Jewelry,' Abdullah Mohammed Ali, said: 'Markets have recently seen a rise in discount offers on diamond jewelry in many stores, whether through a buy-back guarantee that preserves a large portion of the value, reaching up to 70%, or through price discounts,' attributing these offers to the desire to liquidate products and stimulate sales during the current holiday and tourism seasons. Executive Vice President of 'Al-Jawhara Group,' Mohammed Tagedd Abdullah, said: 'Large discounts on diamond jewelry are a striking feature in gold and jewelry markets at present, and they are due to marketing policies, sales stimulation, and capturing a larger market share before the end of the year, especially during holiday seasons and tourism booms when there is increased demand for purchasing such gifts.' In response to consumer demands to include gold jewelry in such offers, he said: 'It is difficult to apply diamond jewelry discounts to gold jewelry, considering that profit margins allow for such discounts in diamonds, but they cannot be applied to gold.' Meanwhile, Jay Dahkan, Managing Director of 'Dahkan Gold and Jewelry Trading,' told 'Emarat Al Youm' that 'the large discounts among stores on diamond jewelry are due to those stores' desire to stimulate sales, increase the liquidation of many models, and speed up capital turnover, in addition to higher competitiveness, especially during holiday, tourism, and festive seasons.' He added: 'Profit margins on diamond jewelry allow for such large discounts, but it is difficult to apply them to gold jewelry, which has lower profit margins that do not allow for such large discounts.'
