|
|
|
Product Magazines: Product Trends |
|
|
Vol 1, 2004 |
Hong Kong Watch & Clock Fair Review
|
|
Timely Event Draws Crowds
Even
a passing typhoon failed to dampen spirits or deter visitors on the opening
day of the 2003 Hong Kong Watch & Clock Fair, which, as Fair Organising
Committee co-chairman Tse Wai Hang noted, was only appropriate.
He pointed to the traditional Chinese belief that wind and rain bring good fortune, which was certainly true for the 720 exhibitors from 13 countries and regions who welcomed more than 15,000 buyers to the five-day event.
The show, which ran from September 3-7, 2003 and was co-organised by the Hong Kong Trade Development Council (TDC) with the Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades and Industries Ltd, was a runaway success.
The 15,137 buyers who attended represented an increase of 3.7% on the 2002 event and included 1,489 participants from the Chinese mainland, 10.5% more than the previous year.
The Hong Kong Watch & Clock Fair, the first since the announcement of the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and the mainland, benefited from more relaxed travel arrangements for Chinese nationals.
"Buyers
from Shanghai tend to place orders quickly without much bargaining on price,"
Tse observed. "Mainland buyers have very strong spending power and mid-
to high-end Hong Kong watches are their favourites."
Fellow Fair Organising Committee co-chairman Lawrence Cheng also noted Hong Kong manufacturers are improving their productivity and can now accommodate smaller orders. "As a result, small retail chains will come to Hong Kong to purchase," he said.
Cheng added that the US market was picking up and product lines were changing, forcing suppliers to adapt quickly. "Leather straps are becoming more popular," he maintained.
A number of special events and programmes were held to coincide with Asia's largest timepiece fair, including business-matching meetings at which Hong Kong exhibitors were able to discuss the commercial development of brand name watches with representatives of five Hong Kong and international brand names.
The Asian Watch Industry Conference saw industry experts bring attendees up to date on new technology and market developments including in-depth discussion of CEPA, while the creativity of local designers was showcased in the 20th Hong Kong Watch & Clock Design Competition.
This blend of activities impressed Istanbul Chamber of Watches president Murat Beg, who believed the world's second-largest watch show would be an essential diary date in future. "This is only my second visit to the fair and I think it's fantastic, on a level with Basel," he enthused.
"I'm really impressed and will recommend Istanbul members to come and see for themselves. The quality of Hong Kong watches is improving all the time."
Little wonder, then, that the great majority of buyers and exhibitors agreed that they would return for the next Hong Kong Watch & Clock Fair, which will be staged from September 1-5, 2004.
Trends To The Fore
Buyers and exhibitors alike were gearing their businesses for a major expansion in cross-border trade in timepieces, according to a survey commissioned by the TDC and conducted at the show by market researchers AC Nielsen.
More than 40% of exhibitors interviewed planned to expand their wholesale or retailing operations on the mainland, while 19% of buyers interviewed intended to source more Hong Kong-made watches for the mainland market.
The same survey established that the industry's view of prospects for 2004 was robustly optimistic, with 61% of exhibitors and 68% of buyers confident sales would be better in 2004 and even more cautious interviewees believing that business volumes would attain at least the same levels.
There was also a broad consensus on product trends across international markets, with quartz analogue watches and mechanical watches predicted to remain in vogue and white metal and titanium the materials of choice for watchcases. White metal and leather set the style for watchstraps, but on the mainland there is a taste for black metal cases and plastic straps.
Demand for timepieces of varying levels of quality appears to be growing, notably among teenagers in North America, the EU and parts of the Asia-Pacific region.
Female white collar workers in Japan are also regarded as a healthy growth market by buyers, who nominated product quality as the most important purchase criterion closely followed by competitive pricing and innovative design.
Brand Name Gallery A Big Hit
One highlight of a highly successful show was the continued emergence of the Brand Name Gallery, which attracted 36 exhibitors who presented 42 Hong Kong and international labels - an increase of 50% over 2002.
The gallery has become an important platform for Hong Kong brands, showcasing the local timepiece industry's evolution from OEM work into the making and marketing of high quality branded products.
"It also helps keep people in the timepiece industry abreast of market trends," observed Fair Organising Committee co-chairman Tse Wai Hang.
Attendees were drawn into the gallery by a glittering array of stylish designs, and also by four mini fashion parades featuring models in a variety of different outfits - all with watches to match.
WRITTEN BY ROBERT PIERCE
 |
Hong Kong Buyers Request Form | |
Overseas Buyers Request Form | |
More Publications |
 |
tdctrade.com | Web Directory | My Virtual Office | Business News | About TDC |  |
| tdctrade.com Industry Verticals | TDC Global Network | Feedback | Help | ||
|
Copyright (c) 2000-2003 Hong Kong Trade Development Council. All rights reserved. |
|
