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Strong turnout at HK Int'l Jewellery Show 2005

Strong turnout at HK Int
Strong turnout at HK Int

The Hong Kong International Jewellery Show concluded today (March 4) has attracted a total of 26,753 buyers from 124 countries and regions, up 7.39% when compared to the Show in 2004.

In addition to local and mainland buyers, most of the buyers are from the US, Taiwan, Japan, Thailand, the Philippines, Korea, Australia, India and Italy.

According to an independent industry survey conducted by Oracle during the Show, industry players are optimistic on jewellery exports in 2005.

Jewellers expect a 10% increase in sales growth this year. They also expect a bullish growth of 16% in sales growth in emerging markets, such as the Chinese mainland, Russia, India and Eastern Europe.

A total of 427 exhibitors and 716 buyers from around the world joining the Show were interviewed. Most of the respondents (88%) said the global jewellery market in 2005 would be better than or same as in 2004 - a year that Hong Kong experienced a 19% growth in jewellery exports.

Hong Kong jewellers are planning to further grow their businesses by expanding sales in the US and Europe (26%), developing original design business (24%), selling into emerging markets such as Chinese mainland, Eastern Europe and Southeast Asia (20%) and establishing brand business (15%).

Local exhibitors believed that joining trade fairs here in Hong Kong or in major markets are the most efficient and effective way to market their products.

Hong Kong jewellers pay stronger attention to creative designs and branding business than ever. Half of them will develop branding business in the next two years, mainly via building new brands, or acquiring established brand through licensing or co-operation.

At present, local jewellery companies employ 7.2 in-house designers in average. They plan to employ 1.4 more in-house designers in the next 12 months. This is 50% more than in 2003 (4.8 in-house designers in average).

Other highlights:

First Choice Hong Kong: 66% of overseas buyers said Hong Kong and southern China is their most preferred sourcing region as it provides a wide variety of quality goods and located adjacently. Jewellery buyers are impressed by Hong Kong's design, craftsmanship and quality.

Challenges ahead for Hong Kong manufacturers: decline in profit margin as a result of increasing cost (48%) is regarded as the biggest challenge in 2005. They also have concern about their registered designs being copied by competitors (26%), lack of creative designers (19%) and keep competitions from countries in the region (13%).

Product Trends: "simplicity" and "classic" style are preferred, while heart and floral pattern are expected to be popular in 2005.

Consumer segments with highest growth potential:
25-34 executives, professional, office lady and "Tai Tai" aged 35 or above.

Fastest growing Jewellery category: ring is regarded as the fastest growing product category in 2005, followed by necklace and earrings.

In 2004, Hong Kong exported US$ 2.58 billion worth of Jewellery to the world. Hong Kong International Jewellery Show 2005, the largest ever, featured 1,546 exhibitors from 40 countries and regions. The next fair is scheduled for March 7-10, 2006 at the Hong Kong Convention and Exhibition Centre.

Full report (powerpoint)

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Content provided by Hong Kong Trade Development Council