11 March 2013
Jewellery Show Draws Record Number of Buyers
Emerging Market Buyers Up 18 Per Cent
Hong Kong Trade Development Council (HKTDC) Deputy Executive Director Benjamin Chau was encouraged by the response, especially from emerging markets. “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 per cent,” he said. “The continuing expansion of the middle class and the rapid development of sales channels in emerging markets are fuelling consumer demand for luxury goods.”
Survey Spotlights Prospects
More than 3,300 exhibitors from 49 countries and regions participated in this year’s fair, a new exhibitor record. During the show period, an independent body was commissioned to interview some 800 buyers and exhibitors to understand their views on market prospects, export outlook and product trends.
The majority of buyers and exhibitors interviewed were positive about market prospects. While 85 per cent of buyers interviewed expect a growing or steady turnover this year, 76 per cent of exhibitors interviewed believe that the market this year is better than or comparable to last year. In addition, 70 per cent of the exhibitors interviewed expect a rise in production or procurement costs, and about 30 per cent of the exhibitors interviewed indicate that they will consider raising product prices. Some 66 per cent of buyers interviewed expect an increase in procurement spending, and more than 40 per cent are prepared for price hikes.
Emerging Market Trends
The survey also gathered the opinions of buyers and exhibitors on emerging markets. The respondents generally believe that, over 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 are concerned, 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 Mr 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. About 80 per cent of the respondents said that the show was effective in helping them identify suitable suppliers.”
Small-Order Zone Attracts Buyers
The HKTDC organised more than 90 overseas buying missions to take part in the show. In addition, more than 20 special activities, from parades and seminars to networking receptions, were held to help participants expand their business contacts. In response to market needs, a Small-Order Zone was added to the show this year. It offered jewellery purchases in small quantities, between five and 500 pieces, and at prices below US$1,000 per piece. The zone attracted more than 4,600 buyer visits and created about 8,000 trade enquiries.
“The setting up of the Small-Order Zone was really considerate of buyer needs,” said United States buyer Daniel Katz, sourcing at the show for his own jewellery shop. “We focused on silver items and jewellery in simple and young styles.”
“This exhibition is a perfect venue for us to find new products and keep abreast of design trends,” said Prasanna Kumar, President of the Indian jewellery shop Nathella, participating in the show for the second time. “We have identified three or four suppliers and have placed US$1 million worth of orders so far.”
“We see positive momentum at this show, as buyers are more confident to place orders now,” said Vishal P Mehta, President of Dimexon (Hong Kong) Ltd. “So far, buyers from the Chinese mainland, Hong Kong, Indonesia, Singapore and Thailand have placed orders for our loose diamonds. For finished jewellery, we have received orders from many buyers, especially those from Asia and the Middle East. We are cautiously optimistic about this year’s business.”
Wang Ensheng of Shanghai’s Laofengxiang, which was exhibiting at the fair, said the jewellery company’s participation had been fruitful. “By joining the show, we have been able to bring the Laofengxiang brand to the international arena, to get to know more overseas buyers and tap opportunities for cooperation.”
The jewellery show is organised by the HKTDC in cooperation with the Hong Kong Jewellers' & Goldsmiths' Association, the Hong Kong Jewellery & Jade Manufacturers Association, the Hong Kong Jewellery Manufacturers' Association and the Diamond Federation of Hong Kong.
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 on 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. For more information, please visit: www.hktdc.com.