On the 9th day of Lunar New Year, Tran Nhan Tong street, which is regarded as Kingdom of Gold of Hanoi by many people, is surprisingly crowded. The gold companies have sent to the streets so many good looking staffs wearing uniforms to call for customers to go in.
The number of security staff is rumored to have doubled over the past several days. The number of customers buying gold surged to more than 6 times compared to normal days.
Nguyen Kieu Oanh works for a big real estate company in Hanoi. Today, she stopped working earlier than normal to go to Tran Nhan Tong street to buy 24k gold ring and gold jewelry to wish for luck.
Finally, she spent about $500 for both the tenth of a tael 24k gold ring for saving and one pair of ear rings for wearing. For her, the decision to go and buy gold there is just the matter of interest because so many people do the same, not because she cares too much about luck.
According the representatives of some gold companies, they consider the God of Wealth day as a good chance of doing business. So they have been carefully prepared for this day from many months before. They hired more designers, run advertising campaigns on many means of media like social media, newspaper or TV to attract customers.
Tran Nhan Tong about 2 decades ago used to be the kingdom of jeans, clothes. But time by time, the popularity of jeans fades, Tran Nhan Tong surges to become the Kingdom of Gold in Hanoi. Currently, Tran Nhan Tong enjoy the presence of biggest gold companies in Vietnam like Bao Tin Minh Chau, PNJ, Phu Quy, Doji, etc.
During this God of Wealth business season, the demand for gold products surges, but the flow of customers falls mainly on the stores of big brand names as mentioned above. The small companies cannot compete because they lack the advantage of finance and human resource. This can be seen on the contrast when big store are always full of people while small stores are almost empty in this very exciting business time for gold companies.