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Nearly 210,000 Buyers Source at HKTDC Trade Fairs in April(May 03, 2011)
Hong Kong, May 3, 2011 - (ACN Newswire) - Nearly 10,400 exhibitors and close to 210,000 trade buyers took part in the seven trade fairs mounted by the Hong Kong Trade Development Council (HKTDC) in April. More than half the visitors were from the Chinese mainland and overseas, bringing HK$1billion in spending to Hong Kong, excluding trade orders.
The seven HKTDC trade fairs in April were: the Hong Kong Electronics Fair (Spring Edition), International ICT Expo, the Hong Kong International Lighting Fair (Spring Edition), the Hong KongHouseware Fair, the Hong Kong International Home Textiles Fair, the Hong Kong Gifts & Premium Fair and the Hong Kong International Printing & Packaging Fair.
Billion Dollars for Hong Kong
HKTDC Deputy Executive Director Benjamin Chau said nearly 210,000 buyers from 170 countries and regions sourced in Hong Kong in April. Buyers from the mainland and overseas grew eight per cent, to over 120,000. A business traveller spends, on average, HK$8,201 in Hong Kong, according to the Hong Kong Tourism Board. "The fairs bring at least a billion dollars to Hong Kong, not to mention the profits from trade orders and related business services," said Mr Chau.
Emerging Market Buyers
Mr Chau said that the HKTDC's April fairs recorded a significant growth in buyers from BRIC countries (Brazil, Russia, India and Chinese mainland) and VISTA countries (Vietnam, Indonesia, South Africa, Turkey and Argentina). "The seven fairs drew a total of over 60,000 BRIC and VISTA buyers, a 15 per cent increase over last year. The HKTDC has strengthened our promotions in these emerging markets, inviting more buyers to Hong Kong. In this way, we hope local traders may have more opportunities to enter these markets."
Mr Chau pointed out that Japan's earthquake and tsunami did not affect the activities of Japanese traders in Hong Kong, with over 5,000 buyers and 55 exhibitors taking part in HKTDC fairs last month, up nearly two per cent and 139 per cent respectively. "Thenatural disasters in mid-March have led to a shortage of electronics parts and components in Japan," said Mr Chau. He added that "Japanese traders make use of the Hong Kong trade fairs to find new partners and look for alternatives in other countries."
The HKTDC appointed an independent company to conduct a survey on market prospects and product trends during the fair period. More than 1,600 buyers and exhibitors were interviewed for their views on the electronics, gift and houseware industries, including the impact of Japan's earthquake on the industries. The survey found that Japan's crisis is having a bigger impact on the electronics industry than the houseware and gift sectors. Over 50 per cent of the interviewees at the electronicsfair said they were affected, compared to only about 20 per cent of houseware and gift fair interviewees. Key areas include a rise in product sourcing and selling prices and a delay in delivery lead times.
Among electronics industry interviewees,more than 50 per cent said that only 10 per cent of materials supplies have been affected by Japan's quake. Over 40 per cent of affected electronics manufacturers revealed that they would increase their selling price. Only 28 per cent of interviewedelectronics buyers, however, expected that they would have to increase their sourcing prices. "Manufacturers may find it difficult to shift the increased cost to buyers and consumers. We believe, however, that the industry can respond to the challenges positively," said Mr Chau. Over 60 per cent of manufacturers interviewed believe that the impact will last for only about six months or less, while nearly 60 per cent of interviewed buyers said it would take six months to a year to get back to normal.
Overall, a positive market outlook is expected in the electronics, houseware and gift industries. More than 80 per cent of the respondents believed that the market is much better, better than, or the same as last year. Among those positive respondents, over 40 per cent are forecasting double-digit growth in the coming year. The survey also predicted a comeback in the United States and European markets. The interviewed exhibitors believed that the US and Europe willhave the biggest growth in the retail market. Buyers are prepared to pay more, given the renminbi appreciation and rise in labour costs and raw materials. Nearly 60 per cent of interviewed buyers expect the average unit price of products will go up this year.
Industries Go Green
Over 80 per cent of the interviewed exhibitors said they have increased their efforts in green manufacturing, investing more on installing energy-saving equipment in their production lines and improving the green features in their products. About 60 per cent of electronics buyers said they were sourcing more green products. And gift buyers believe that product design with technology and green concepts will make a splash in the market.
New Tech Adds Value
Mr Chau noted that the HKTDC has introduced a variety of new services in its trade fairs, including an electronic magazine tailored for iPhone and iPad users. "It combines the best of trade fairs and product magazines, attracting more buyers fromemerging markets," said Mr Chau. "The publication has recorded more than 3,700 downloads at our trade fairs in April. We will launch an Android version later this year."
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 and three in the US, 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, please visit www.hktdc.com.
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Related Keywords:Trade Shows General
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