Gold businesses hit it big on God of Fortune day

Many businesses claim that daily revenue during the God of Wealth holiday this year is 'unprecedentedly' high, with some even comparing profits in less than 24 hours to an entire month of normal business.

Most major gold brands reported a "record" revenue on God of Wealth Day. At PNJ Jewelry Company, preliminary statistics for the entire system (as of the evening of February 6) showed that revenue reached 560 billion VND, of which revenue from products for God of Wealth Day was 490 billion VND, more than double the same period last year. The company's representative called this revenue a "record".

Gold shops are busy welcoming customers from 5am to late at night on God of Wealth Day. Photo: Giang Huy.

Similarly, DOJI Gold and Gemstone Company also recorded double the revenue of last year. Mr. Duong Anh Tuan - Representative of DOJI Group said that yesterday (February 6, or January 10 of the lunar calendar), more than 220,000 products were sold, double the number of last year. "Just yesterday morning, the number of transactions increased dozens of times compared to normal days", said the representative of DOJI. This year, this unit only makes products from one tael or more, so it is estimated that the revenue of this gold house could be around 700-800 billion VND if calculated roughly with the gold price of about 36.7 million VND per tael on God of Wealth day.

Tran Nhan Tong Gold Street (Hanoi) is crowded with people coming to buy gold from early morning until late at night on God of Wealth Day. Photo: Giang Huy.

Refusing to provide specific figures, Mr. Vu Minh Chau - General Director of Bao Tin Minh Chau Gold Company said that the number of people coming to buy gold was much higher than last year, but they mainly bought gold from half a chi to one chi, a few people bought two chi. The number of people buying gold bars larger than 5 chi per tree was not as high as last year, so the estimated revenue only increased by one and a half times compared to the 2016 God of Wealth season. However, the representative of Bao Tin Minh Chau also admitted that the revenue on this year's God of Wealth day was also considered "unprecedented".

This year, the target audience for gold buying on God of Fortune Day is also noted by businesses to be more diverse, from small traders, housewives, artists, businessmen, office workers, even ordinary workers such as motorbike taxi drivers, lottery ticket sellers, and even the elderly... The scene of queuing up recurs from early morning to late at night, but the organization of the gold shops is considered more thoughtful than previous years.

According to gold businesses, this year's God of Wealth season, gold bars of Wealth or zodiac signs are still popular. Special products such as golden roosters, chickens that lay golden eggs weighing 20 chi... "sold out" early. By the end of yesterday, many customers still came to buy and agreed to deposit for later delivery.

Buying gold for luck on God of Fortune Day has become popular not only in the South but also in the North in recent years. According to experts, this is also a "God of Fortune" day for gold shops because the percentage of gold bought on this occasion that is sold back to businesses is not much because people buy it mainly to keep it for luck. The general director of a business also said frankly that selling gold on a God of Fortune Day brings in more revenue than a normal month.

According to VNE