Abdel Aal Salima, the director of the gold division at the Monoufia Chamber of Commerce, said that gold stores started to exhibit unsold gold accessories with discounts to motivate customers to buy them, and to decrease the demand for gold bars and pounds.
He added that gold traders decided to adopt this new direction instead of re-manufacturing those unsold pieces into bars amid the high demands for gold pounds and bars, therefore, the corporation started to change its 15-day policies to deliver the products.
Salima also revealed that the demands for gold bars are more than the capacity of the markets, so the new direction targets to decrease the demand for gold bars.
On his side, George Tadres said that the outlet policy is in retail stores as they are unloading their old products at lower prices.
Tadres highlighted that in case there are different products that are unsold, the stores can give them back to the factory or producer to sell them once again.
He added that store owners can make different discounts that could reach 50% to market these products more, unlike the famous brands that can't decrease the manufacturing expenses. So, many sellers re-manufacture the unsold products instead of selling them at discounted prices.
Contributed by: Rana Atef
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