Some brands suddenly sell unlimited sales on God of Wealth days

On February 26, the 10th day of the God of Wealth, a series of big brands such as DOJI, PNJ, Bao Tin Manh Hai announced that customers can buy plain gold rings and 24K gold rings in unlimited quantities. This development is different from the previous period when units often limited the daily supply of 24K gold, especially plain rings due to low profit margins.

In Ho Chi Minh CityDOJI’s gold, silver and gemstone center on Ham Nghi street has more than 40 customers waiting in line to buy gold. DOJI staff said there is no limit to the purchase of plain rings, the store supplies enough gold rings from 1 tael to 10 taels. As for the Than Tai gold product, each person can buy a maximum amount.

PNJ store on Hai Ba Trung street also sells unlimited 24K plain gold rings on God of Wealth day. The most crowded area is the God of Wealth gold counter, horse mascot and gold ring.

Similar, in Hanoisome businesses such as DOJI, Bao Tin Manh Hai announced unlimited quantity and same-day gold payment. A few days before, these units had limited sales volume. Bao Tin Minh Chau applies customers to receive a maximum of 3 amounts in advance, the rest will be delivered later on March 12, but there is no limit to the total amount of customers’ purchases.

Some other big brands such as Sacombank – SBJ, SJC, Mi Hong still limit purchases per person, but also record more abundant supply than usual.

As noted by VnExpresscrowded conditions and long queues still occur at some big brands, people are easier to buy than every year. Many businesses encourage customers to transfer money to shorten payment time.

Currently, each gold tael is sold for about 18.4 million VND, double the price at the same time last year. The price is so high that many people only buy small quantities to “get lucky” or accumulate assets at the beginning of the year.

Ms. Cam Tien (Xom Chieu ward, Ho Chi Minh City) initially planned to buy 5 ounces of Than Tai gold but saw the price drop so decided to buy one ounce. According to her, this year’s atmosphere is not as crowded as previous years, partly due to the weather, partly due to the high price of gold. “One tael of gold is equal to a month’s salary. The price is so high that I just bought a little for luck,” she said.

Ms. My Huyen (Gia Dinh ward, Ho Chi Minh City) bought 5 pieces of Kim Ma, saying this is the 6th consecutive year she has accumulated gold on this occasion. Accumulated from a time when the gold price was about 50 million VND per tael, Huyen now owns more than 3 taels of gold, worth about 555 million VND at current prices.

“Every year my mother reminds me to buy gold at the beginning of the year for good luck. My family sees this as ‘sow’s gold’ so we keep it and don’t sell it,” she said.

Similarly, Ms. Minh Thu, 54 years old, said she still maintains the habit of buying gold on the 6th day of the God of Wealth this year. “Every year I buy 1-2 plants, but the price is high so now I only buy 1-2 just for luck,” she said.

Mr. Truong Quang Dat, Chief of Office of the Board of Directors of Bao Tin Manh Hai, said this year’s trend has changed clearly. “Instead of buying in large quantities, customers prefer small products, from one to five centimeters,” he said.

A representative of Sacombank – SBJ also commented that the trend of “luck” for the God of Wealth this year is different. In addition to gold, people are also interested in investment silver products. This brand sells a maximum of 3 taels of gold and 10 taels of silver for immediate delivery per person on the occasion of the God of Wealth. Many people take advantage of this opportunity to buy more silver pieces when they receive the goods on the same day, instead of having to wait according to the appointment letter as before.

On the day of the God of Wealth, gold houses also apply many forms of payment and divide customers to reduce waiting time. PNJ allows customers to pay by credit card for transactions under 20 million VND per day per customer when buying gold bars and plain rings during February 24-27. For transactions of 20 million VND or more, customers need to transfer the entire amount.

Meanwhile, Bao Tin Minh Chau deployed the “golden ATM” model, allowing customers to choose products, scan citizen identification cards and pay online before going to the counter to receive gold, shortening payment time from a few minutes to a few dozen seconds.