October 21, 2009
“The changes in the global economy have done more than affect income and jobs around the world. They have also had an affect on holiday celebrations around the world. This is because merchants of all types have to find new ways to lure in customers, who may not be willing or able to spend as much money. This means these merchants are getting creative and are working hard to find items and set up deals that are irresistible to customers.”
The condition of the world economy has an effect on holiday celebrations everywhere. While merchants in the United States are doing their best to figure out just how they will lure shoppers and convince them to buy during the holiday season here, vendors in other countries are also facing the same issue. Everyone wants to strike gold and find that one product o r group of products that shoppers will not be able to resist.
This past weekend marked the start of the Hindu festival of Diwali. One important part of this South Asian religious holiday is that people buy gold and lots of it, usually. Gold bars and gold coins, as well as gold jewelry and gold adornments are snatched up as the holiday approaches.
Diwali is also known as the Festival of Lights and celebrates the triumph of good over evil on a personal level. It also celebrates the victory and homecoming of certain cultural heroes who were welcomed with lights. The hero being celebrated depends on the region and this holiday is observed by South Asians of different faiths.
This year, the worldwide recession, along with the increase in the price of gold has changed people’s normal holiday gold buying habits. Where at one time people bought gold and did not think of buying platinum, some have decided with the price of gold being as high as it is, they might as well buy platinum.
Jewelers who want to sell gold are also selling smaller pieces of jewelry–be it gold, platinum or diamonds–perhaps in an effort to win over reluctant consumers. The smaller pieces may cost more than people want to pay, but they are still priced lower that larger pieces of jewelry