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Retailers rake in profits this Diwali season

Dubai's retailers are enjoying a boom time this week as the Indian community goes on a buying spree for Diwali, a popular festival in India.

  • By Cleofe Maceda, Staff Reporter
  • Published: 23:36 October 27, 2008
  • Gulf News

Dubai: Dubai's retailers are enjoying a boom time this week as the Indian community goes on a buying spree for Diwali, a popular festival in India.

Malls and jewellery traders are already set to spoil shoppers for choice, stocking up on inspiring gifts and jewellery items, which are expected to be the runaway hit this season. Other retailers are also offering Diwali gifts to drive up consumer spending.

According to K.P. Baiju, managing director and chief executive officer of Buz Consulting, Diwali is one of the lucrative festivals for the retail sector, as the plethora of attractive offers has been proven to encourage more people to open their wallets.

"Overall retail in Dubai will pick up now because of Diwali. In terms of general retail, there will be a lot of offers and opportunities for customers to purchase," Baiju told Gulf News.

To mark the Diwali celebrations, the Dubai Outlet Mall announced that shoppers who spend Dh350 sbetween Sunday and Wed-nesday will be entitled to a Diwali gift.

"Like all other major festivals, we extend our sincere greetings to everyone and welcome them to Dubai Outlet Mall for Diwali. We offer a wide selection of memorable, traditional and classic gifts for Diwali with affordable price choices," said Vishal Mahajan, director of Dubai Outlet Mall.

Diwali's shopping fever doesn't just permeate the malls. According to the World Gold Council, Dubai's gold souq and jewellery shops have also stacked an array of products that range from necklaces, earrings, pendants, finger rings and bracelets.

Lama Al Saheb, public relations manager of World Gold Council, said the markets are full of traditional Indian jewellery, including pieces that have been exclusively handcrafted to highlight the emotions attached to Diwali, as well as gold's eternal value.

"Indian women enjoy wearing gold jewellery on Diwali as it enhances their femininity and adds a dash of glamour to their outfits during the festive occasion," Al Saheb said in a press statement.

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