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Twin Jewellery Shows Welcomed Over 74,000 Buyers |
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| 2014/3/19 |
The inaugural Hong Kong International Diamond, Gem & Pearl Show and the 31st edition of the Hong Kong International Jewellery Show, ended last Friday and yesterday respectively. The Hong Kong Trade Development Council (HKTDC) this year introduced the new “two shows, two venues” arrangement, which separates raw stones and jewellery material and finished jewellery collections into two locations, The two shows welcomed more than 74,000 buyers from 145 countries and regions. Nearly 46,000 visitors attended the Jewellery Show, an increase of nine per cent from the previous year, while the Diamond, Gem & Pearl Show welcomed more than 28,000 buyers.
“Both the Diamond, Gem & Pearl Show and the Jewellery Show have been very successful,” said Benjamin Chau, HKTDC Deputy Executive Director. “In addition to setting a buyer attendance record at the Hong Kong International Jewellery Show, the number of buyers from Asia, such as the Chinese mainland, India, Taiwan and Thailand, have also recorded double-digit percentage growth. On the other hand, traditional markets such as the United States, Germany, Italy and Belgium, also recorded significant growth. The results are very encouraging.”
More than 3,850 exhibitors from 53 countries and regions participated in the two shows. During the fairs, the HKTDC commissioned an independent survey, which interviewed 923 buyers and exhibitors about their views on market prospects, as well as product and industry trends.
Chinese Mainland Tops Survey
The survey revealed that more than 80 per cent of buyers expect steady or increased turnover this year, while over 91 per cent of the buyers believe that jewellery retail prices will remain steady or increase. Asia remains the most promising market for buyers; 66 per cent of those interviewed are optimistic about the Chinese mainland jewellery retail market – the highest among the major markets, followed by ASEAN countries.
Most buyers interviewed consider product quality (83 per cent) to be the top consideration of jewellery consumers, followed by design (80 per cent), craftsmanship (79 per cent), price (78 per cent), after-sales service or warranty (75 per cent), and branding (66 per cent). In terms of consumers purchasing behavior, 81 per cent of buyers expect more jewellery consumers to conduct price comparison. Some 70 per cent of buyers foresee consumers purchasing smaller quantities for each order. As Internet penetration continues to increase, two-thirds of buyers expect consumers to increase their online jewellery purchase and review the products on the Internet and social networks.
In terms of industry trends, exhibitors anticipate the average order size to be reduced this year, and buyers will opt for lower priced products. Exhibitors also believe that buyers will ask for better payment terms, maintain lower stock levels, and expect a shorter lead time.
“Two Shows, Two Venues” Well Received
Exhibitors and buyers welcomed the new “two shows, two venues” arrangement. “The ‘two shows, two venues’ gross exhibition area has expanded to over 123,000 square meters, allowing more local and overseas exhibitors to participate,” Mr Chau said. “A greater variety of jewellery finished products and raw materials are also provided, enhancing trading efficiency, doubling business opportunities.” Mr Chau noted that more than 90 per cent of buyers surveyed considered the new arrangement effective or better than last year’s for searching suppliers. More than 70 per cent of exhibitors also expect to receive more orders than last year.
“With the ‘two shows, two venues’ arrangement, over 240 Italian exhibitors joined this year’s Jewellery Show and Diamond, Gem & Pearl Show, with 42 per cent increase from last year, the highest participation among all editions,” said Giovanni Sacchi, Head of Promotion Department of the Italian Trade Agency. ”The two shows provide perfect platforms for Italian jewellery manufacturers to expand their businesses in the Chinese mainland and in Asia.”
“We have joined the Hong Kong International Jewellery Show for the third consecutive year,” said US exhibitor Eliot Elihu, Vice President of Essex Global – Bijan and Co Inc. “We are happy to have met more mainland buyers this year because we are keen to further develop the mainland market.”
“The show is an excellent promotion platform for us to launch new collections and announce the latest business developments,” said Aaron Shum, President of Aaron Shum Jewelry Ltd, Hong Kong, which held a kick-off ceremony at the Fair to launch a new cooperation with Chow Tai Fook Jewellery. “We are pleased to announce that our company and Chow Tai Fook Jewellery Group Ltd have entered into an exclusive distributorship for the Greater China region.”
News Source : AsiaToday |
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Company : AsiaToday
Country : Hong Kong
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