End of old Lunar Year and starting days of the next Lunar Year are very often the best business seasons for gold companies. During this period, when remittance surges and people get a lot of salary and year-end bonuses, consumers have the tendency to buy gold of value preservation as well as storage.
When the New Year starts, the custom of people buying gold has become very common. People from many far away provinces like Lang Son, Bac Giang or Hoa Binh go by cars and public means of transport to urban areas like Hanoi or Bac Ninh provinces to buy gold. For some people, they even save money the whole year to buy a lot of gold on this occasion for praying and saving purposes.
In order to meet up with demands, gold companies take this chance to launch many kinds of products like 24k pigs, Buddhas, rings, bullion and sheets. Companies’ own products like one tenth of a tael to half a tael rings made with 24k gold are favored by many people.
This year the trend of God of Wealth day’s product sees new trend. Jewelry companies launch many new kind of products based on conception of Chinese Feng Shui, which the the combination of things to prevent bad luck and bring good luck for consumers.
Unlike other kinds of products that can have big promotions, because of the high value, gold products cannot have big sale promotions. Some companies instead chose to give customers the God of Wealth coupon, which customers can use to have some price reductions when they buy more than $250 of gold products. At the same time gold companies give customers the small presents to attract customers going back to the stores.