30 April 2009
HKTDC Fair Buyers and Exhibitors Optimistic
April Trade Fair Survey Respondents See Crisis End within 18 Months
30 April 2009 - The economic crisis will be over within 18 months, according to a survey of trade fair buyers and exhibitors taking part in the six fairs organised in April by the Hong Kong Trade Development Council (HKTDC).
Nearly 70 per cent of buyers interviewed in an independent survey believed that the current economic crisis would subside within 18 months. The findings come from Actrium Solutions (HK) Ltd, an independent survey company commissioned by the HKTDC. The company interviewed buyers and exhibitors about their sourcing patterns and business plans in the face of the global financial crisis.
The survey revealed that 82 per cent of buyers interviewed planned to place or had placed orders during the April fairs, while 21 per cent said they had increased their order value over last year, and 47 per cent said their order value remained the same. Fully 96 per cent of buyers interviewed said they would increase or maintain their sourcing pattern through Hong Kong even after the financial crisis subsides.
Emerging-market buyers showed somewhat more confidence in the economy, with 24 per cent saying they would increase their order value, compared to 17 per cent of buyers from mature markets.
In their sourcing, buyers said that they would: order more value-for-money products (83 per cent); be more selective in attending overseas trade fairs (75 per cent); make more frequent orders (62 per cent); place smaller orders (60 per cent); and send fewer buyers to overseas trade fairs (56 per cent).
When choosing sourcing channels, 83 per cent of buyers agreed that attending trade fairs still remained an effective channel in finding high-quality suppliers, while 68 per cent considered Hong Kong trade fairs tops for sourcing value-for-money products.
More than 90 per cent of buyers regarded the HKTDC Hong Kong Electronics Fair (Spring Edition), the Hong Kong Houseware Fair and the Hong Kong Gifts & Premium Fair as "must attend" events.
As for exhibitors, nearly 80 per cent indicated that they would place more focus on mainland and Asian markets. With that in mind, the HKTDC will hold its first local consumer show, the HKTDC Hong Kong Lifestyle Showcase, 14-17 August, a peak season for mainland visitors in Hong Kong. The new fair will be held concurrently with HKTDC Food Expo.
About 180,000 buyers took part in the six fairs organised by the HKTDC in April, spending an estimated HK$1.7billion in Hong Kong. The six fairs were: the HKTDC Hong Kong Electronics Fair (Spring Edition), International ICT Expo, Hong Kong International Lighting Fair (Spring Edition), Hong Kong Houseware Fair, Hong Kong International Printing & Packaging Fair and the Hong Kong Gifts & Premium Fair.
The Hong Kong Gifts & Premium Fair, which opened 27 April with a record 3,975 exhibitors from 38 countries and regions, concludes today at the Hong Kong Convention and Exhibition Centre. The response among buyers and exhibitors has been positive. "Because this fair is the largest gift show in the world, there is the opportunity to meet buyers from many markets," said Andrew Au-Yeung, Head of Marketing and Operation for Hong Kong's AH-HA Company Ltd. "We're particularly targeting Asian buyers with our new brands, which are based on Hong Kong's heritage."
Exhibitor Naresh Lal Shrestha, Chairman of Nepal's Bagmati Arts & Handicrafts, was equally upbeat: "We exhibited here for the first time last year on the advice of a company from India that had been coming here for many years. The results have been good, with new customers from Japan and Australia."
Buyers were also impressed with this year's gift fair. "This show is very well organised, and you can find innovative products here. I've been coming to this event for 10 years," said Muhammed Noufel, CEO & Managing Partner of the United Arab Emirates' Al Yasat Gifts & Hotel Supplies. "Of the five or six suppliers we use regularly in the Chinese mainland, we found three of them at this show and have developed long-term relationships with them."
Added Sergi Derqui, Product
Manager for Spain's Aramis SA: "The quality of the suppliers here is good,
and the staff at the fair are very helpful."
Please contact the HKTDC's Media and Public Affairs Department:
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About the HKTDC
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 offices worldwide, including 11 in the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, www.hktdc.com