4 May 2010
HKTDC April Fairs Attract More Than 200,000 Buyers
Buyers Optimistic About the Economy: HKTDC Survey
4 May 2010 – Seven trade fairs organised by the Hong Kong Trade Development Council (HKTDC) in April, the peak season for buying, attracted nearly 10,000 exhibitors and more than 200,000 buyers, an increase of 14.7 per cent over last year.
A survey conducted during the fair periods by an independent company appointed by the HKTDC found that the buyers from around the world were generally optimistic about global economic development over the next 12 months. Most of the buyers indicated that they expect increased buying expenses, and more than 60 per cent stated that they had already placed or would place orders at the fairs.
The survey interviewed 1,288 buyers attending the HKTDC Hong Kong Electronics Fair (Spring Edition), the HKTDC Hong Kong Houseware Fair and the HKTDC Hong Kong Gifts and Premium Fair. Survey questions asked buyers for their outlook on the global economy, procurement demands in various markets and product trends.
The survey found all buyers to be optimistic about global economic development over the next 12 months, with 65 per cent of the interviewed buyers expecting growth in their industries, 71 per cent expecting an obvious increase in consumer spending of their country or region and 65 per cent indicating an increase to be made to their procurement expenses. Of those expecting increased procurement, 95 per cent predicted a rise of 10 per cent or more.
HKTDC Deputy Executive Director Benjamin Chau also noted that the survey found 64 per cent of the buyers had placed or were ready to place orders at the fairs.
“Among buyers from developed markets such as Europe and the United States, the percentage of those who had placed or would place their order was close to 70 per cent,” said Mr Chau. “Since the United States and the European Union are Hong Kong’s second- and third-largest export markets, respectively, this is good news for Hong Kong.”
Emerging Appetite for High-Tech
The survey found that the fairs attracted many new buyers, with more than 30 per cent of those interviewed being new buyers at the fairs. Most were from emerging markets in Asia and Latin America. Nearly 50 per cent of the buyers from the BRIC nations (Brazil, Russia, India and China) were also first-time visitors. Among buyers from the Chinese mainland, India and Brazil, more than 50 per cent said they intended to increase their sourcing high-tech products; this percentage was higher than expressed by buyers from mature markets.
Mature Markets: Brand, Quality and Green
Buyers from mature markets such as Europe and the United States considered brand image, product quality assurance and green design as the key factors in their procurement activities. The survey found that exhibition zones which showcased brand image were most welcomed by buyers. The percentage of buyers visiting the Hall of Fame at the Electronics Fair, Hall of Elegance at the Houseware Fair, and Hall of Fine Designs at the Gifts Fair was 55 per cent, 64 per cent and 74 per cent, respectively. These zones were particularly welcomed by buyers from Australia, Europe and North America.
The Testing & Certification Zone at the Electronics Fair, newly established to tie in with the Hong Kong Chief Executive’s proposed development of six pillar industries, also attracted many buyers from developed markets – reflecting an interest in products with strong brand image and quality.
Green products with environmentally friendly designs received growing attention from the global marketplace. More than half of the interviewed buyers from mature markets said they will increase procurement of green products and tended to be more enthusiastic than buyers from emerging markets. The Solar Photovoltaic Technology Zone and the Green Electronics Square at the Electronics Fair also tended to attract many buyers from mature markets.
Growing concern about environmental protection was also reflected in responses from buyers from the Chinese Mainland and India, two BRIC nations experiencing rapid economic growth. Some 68 per cent of the mainland buyers and 57 per cent the Indian buyers interviewed buyers said they intend to increase their procurement of green products. The figures indicate much higher demand in those countries than in other emerging markets.
Mr Chau suggested that Hong Kong exporters and suppliers give more thought to developing environmentally friendly products, or adding environmental protection elements to their current lines, to meet the market demands if they plan to enter mature markets or the mainland and India.
More than 97 industry seminars and networking activities were organized during the seven fairs, attracting 8,435 participants with first-hand market information.
“While buyers and exhibitors can place or receive orders in these fairs, they can also obtain the latest market intelligence in various markets through contact with industry players from different regions,” said Mr Chau. “Such information would be crucial for an enterprise making a business plan for the next one to two years, and for developing new products.”
Please contact the HKTDC's Corporate Communication Department:
Tel: (852) 2584 4216
About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 in the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online.