Qatar's jewellery and gold retail market has a total annual value estimated at around QR1.2bn, with the unique craftsmanship skills offered by many local gold retailers and workshops keeping the industry constantly expanding.
Gold jewellery alone accounts for roughly 41% of the total local jewellery market revenue, supported by constant consumer demand mainly due to cultural and heritage factors, population diversity, and attractive competitive retail prices supported by tax-free advantages.
In spite of the fluctuations in international gold rates, which normally reflect on the local market, gold shop retailers, especially the outlets within the traditional markets (souqs), noted that demand has remained good among most nationalities, in particular during the holidays, special occasions, religious festivals and the summer time.
Retailers within Doha's traditional markets, particularly the historic Souq Waqif and the Gold Souq, have continued to witness healthy footfall throughout the year.
These markets remain among the country's most popular destinations for both residents and tourists seeking handcrafted jewellery, personalised designs, traditional Gulf ornaments, and internationally recognised brands.
Shop owners indicate that while customer purchasing patterns have evolved in response to higher global prices, transaction volumes remain strong, particularly during peak shopping seasons.
"We receive orders all the time for special custom-made ornaments such as pendants with names written in Latin or Arabic calligraphy,” said Abdulkreem, a jeweller at a traditional Souq. “We have ready-made designs to offer customers to choose from, but customers can also bring their own designs, such as names written in certain formats, pendants that have particular designs and rings that have special patterns, and our skilled craftsmen will do them within a few days."
He noted that customers often prefer designs inspired by traditional local patterns and scenery such as falcons, wings, palm tree fronds, traditional Arabic and Islamic geometric patterns and roses.
"The more intricate the requested design, the higher the labour charges, but the price of gold remains the same according the daily market value and the calibre, with many people often go for 21K and 22K,” Abdulkreem said. “So, first the required amount of gold is estimated and a quote for the final cost is agreed upon, then the order will be ready within a few days."
In the meantime, many retailers across the country noted that higher prices have done little to dampen the overall consumer interest and demand, but buyers have become more selective, often choosing lighter-weight pieces or purchasing during promotional campaigns while continuing to prioritise gold as both an adornment and a long-term investment.
"There are some categories of customers who view gold as a solid investment, better than cash, as it keeps its value against potential inflation,” said Khalid, a gold retailer at a shopping mall jewellery outlet.
“Such customers often look for gold jewellery at the lowest possible labour charges,” he said.
“They usually do not pay much attention to the design and ornamental value, and look for things made of gold, without any stones or decorative material, Khalid added. “They mostly go for chains, bracelets and rings of 21K or higher."
Meanwhile, a number of gold shop owners pointed out that younger customers are increasingly seeking personalised jewellery, custom-made pieces, and minimalist designs suitable for everyday wear, while traditional customers continue to invest in heavier, old-style ornaments.
Shopping trends are also experiencing a major transformation with the extensive use of digital technology, as many retailers post their updated collection catalogues and heavily use social media marketing to attract younger consumers.
However, small gold shops and workshops in key areas of Doha, especially at souqs, are expected to remain highly competitive and favoured by general customers due to their flexibility in offering various designs and responding to special customer demands, in addition to their willingness to tolerate aggressive bargaining of labour charges, which can be 10% to 25% lower than the well-established brands.
