Emerging Markets Drives Record Number of Buyers to HKTDC's Jewellery Show
In its 30th year, the Hong Kong Trade Development Council’s HKTDC Hong Kong International Jewellery Show just keeps growing, with 42,000 buyers from some 140 countries and regions, an 11 percent increase, compared with last year.
The emerging markets saw an even bigger boost in buyer attendance, with an 18-percent increase, compared with last year.
“The number of buyers from the Chinese mainland was up 24 per cent over last year, while Indian and Russian buyers both increased by 16 per cent; ASEAN buyers were up 11 percent,” said HKTDC’s Deputy Executive Director Benjamin Chau.
He added, “The continuing expansion of the middle class and the rapid development of sales channels in emerging markets are fuelling consumer demand for luxury goods.”
Another record was set with more than 3,300 exhibitors from 49 countries and regions participating in this year’s fair which ran in earl March at the Hong Kong Convention and Exhibition Centre.
During the show, anindependent body was commissioned to interview some 800 of them to understand their views on market prospects, export outlook and product trends.
Here are some of the findings:
· The majority of buyers and exhibitors interviewed were positive about market prospects.
· While 85 percent of buyers interviewed expect a growing or steady turnover this year, 76 percent of exhibitors interviewed believe that the market this year is better than or comparable to last year.
· In addition, 70 percent of the exhibitors interviewed expect a rise in production or procurement costs, and about 30 percent of the exhibitors interviewed indicate that they will consider raising product prices.
· Some 66 percent of buyers interviewed expect an increase in procurement spending, and more than 40 percent are prepared for price hikes.
The survey also gathered the opinions of buyers and exhibitors on emerging markets.
The respondents generally believe that, during the next two years, sales to the Chinese mainland, India and Russia, as well as ASEAN, will see significant growth, with more than half the respondents saying that the mainland market has the most potential.
As far as product materials, exhibitors and buyers interviewed expect that white gold will be the most popular in the coming year, followed by silver and yellow gold.
As to product trends, modern, minimalist and feminine designs are now dominant. Diamonds are the most popular gemstone, followed by pearls and jade.
Respondents’ appraisals of the fair were positive, according to Chau.
“The survey reveals that buyers generally find the quality and design of Hong Kong jewellery to be outstanding, while offering a variety of styles,” he added, “About 80 percent of the respondents said that the show was effective in helping them identify suitable suppliers.”
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