?> HK jewellery show draws record buyers, response from emerging markets - Retail in Asia

Retail in Asia

In Sectors

HK jewellery show draws record buyers, response from emerging markets

The 30th edition of the HKTDC Hong Kong International Jewellery Show, which closed its five-day run on 9 March, attracted more than 42,000 buyers from some 140 countries and regions, a new buyer record.

This year’s buyer total was up nearly 11 percent over last year, with emerging market buyers up 18 percent.

Hong Kong Trade Development Council (HKTDC) Deputy Executive Director Benjamin Chau said the response was very encouraging, especially from emerging markets.

“The number of buyers from the Chinese mainland was up 24 percent over last year, while Indian and Russian buyers both increased by 16 percent; ASEAN buyers were up 11 percent,” 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.”

More than 3,300 exhibitors from 49 countries and regions also 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 percent of buyers interviewed expect a growing or steady turnover this year, 76 percent of exhibitors interviewed believe that the market this year is better than or comparable to last year.

In addition, 70 percent of the exhibitors interviewed expect a rise in production or procurement costs, and about 30 percent of the exhibitors interviewed indicate that they will consider raising product prices.

Some 66 percent of buyers interviewed expect an increase in procurement spending, and more than 40 percent are prepared for price hikes.

“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.”