17 Oct 2012
World’s Largest Electronics Event Draws Increased Buyer Numbers
Hong Kong Events Show Strength in Emerging Markets, Mobile Audio and Video Items
The electronics fair alone drew more than 64,000 buyers, up 5 per cent, a fair record. The fair witnessed increases in buyers from Asian regions such as the Chinese mainland, South Korea and Taiwan, and significant growth from ASEAN and emerging markets such as Columbia, the Czech Republic, Ukraine and Vietnam.
Organised by the Hong Kong Trade Development Council (HKTDC), the events also generated business opportunities thanks to the participation of more than 120 buying missions representing over 9,300 buyers from 65 countries and regions. Among the major retailers represented were Best Buy (United States), Carrefour (France), MGB Metro (Germany), ozon.ru (Russia), Future Group (India), and PChome (Taiwan).
HKTDC Deputy Executive Director Benjamin Chau said emerging markets are standing out as developed European and American economies remain mired in uncertainty, and buyers become more cautious. “On the other hand, middle class consumer segments in emerging markets such as South America and Eastern Europe are expanding relentlessly and people there are going after consumer goods with outstanding designs and features,” Mr Chau said. “With the increasing popularity of mobile devices such as smartphones and tablets, there is huge demand for related accessories, audio-visual products and apps. So there is still handsome growth potential in the market.”
Small Order Flexibility
This year’s autumn fair was the first to introduce a Small-Order Zone, which offered more than 1,000 premium products from over 220 suppliers. An “Experience Corner” was also set up to allow buyers to inspect or try out products. About 19,000 buyers visited the zone during the fair, creating nearly 13,000 trade connections during the event’s four-day period.
German buyer Rolf Weimann said the new feature helped her find what she needed. “We concentrate on identifying practical small household appliances, and in the Small-Order Zone I have tested out some products. This gives me a better understanding of their features and more confidence in them,” she said. “There are many variables in the market and our sourcing strategy has changed. At this stage we will mostly buy in small batches and will only place repeat orders if market response is good."
Innovative Products, Business Opportunities
The events also provided a platform for business exchanges and creating opportunities. Guo Wenfeng, general manager of mainland exhibitor Yoau Electric Company Limited, said visitor traffic seemed heavier than last year. “We came in contact with more buyers from emerging markets such as Russia and Brazil as well as from North America and Europe. We also have returning customers placing bigger orders.”
KY Hung, president of Hong Kong company Ten Pao International Limited, said the fair has been “instrumental for branding, image-building and market intelligence gathering. We are confident the company will do well in years to come with our investment in new technologies and product category branding endeavours.”
Raj Seth, Director of Audio/Video, Merchandising & Operations of US retailer Fry's Electronics, found potential suppliers on his first visit to the fair as a buyer. “In the current challenging market environment, our task is to identify what customers want. I am interested in finding new OEM products to sell under the Fry's brand,” he said. “What I find here is amazing and I will certainly come back here next year.”
Industry players said they also appreciated having two events in a single venue to find the latest products, technology and market information. “Hong Kong is the best location for sourcing,” said Mihaela Babaran, an Eastern European buyer engaged in the distribution of telecommunication products and software. “The simultaneous running of two major exhibitions has allowed me to come into grasp with product as well as industry trends in one go.”
The 33rd edition of the EFSE and the 17th edition of the electronicAsia will be held in October 2013 in the Hong Kong Convention and Exhibition Centre.
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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