The 37th Hong Kong International Jewelry and the 7th Hong Kong International Diamond, Gem and Pearl Show hosted by the Hong Kong Trade Development Council concluded successfully on July 29. The exhibition survey pointed out that the recovery of consumption power and the rise of online commerce have brought new opportunities to the industry.
The epidemic has changed the global economic landscape, and the entry and exit restrictions of various countries have hindered global travel. Many companies hope to use online and offline hybrid methods to strive for business. Zhou Qiliang, Vice President of the Hong Kong Trade Development Council, said: "The epidemic has brought an impact on business and trade. On-site surveys at the exhibition found that 44% of interviewed exhibitors and buyers believed that travel restrictions under the epidemic have become a major business challenge. 31% and 19% believe that the recovery of spending power and online commerce are opportunities for business this year."
"The results of the survey coincide with the TDC's strategy. We have grasped the market pulse and corporate needs, and responded quickly. For the first time, we opened two jewellery fairs to the public to allow exhibitors to reach more retail customers and open up new sources of customers. For the first time, the two exhibitions will be paralleled by physical and online exhibitions, creating more business opportunities for buyers and sellers."
In order to let the jewelry industry understand the industry trends, during the exhibition, the Hong Kong Trade Development Council conducted a questionnaire survey of more than 800 exhibitors and buyers. The results found that buyers and exhibitors were cautious about the economic prospects. 54% of the respondents expected sales to increase. Year-on-year decline, only 29% think it will stay the same; 45% think there is pressure on purchasing and production costs, but more than half (54%) say that the retail price of the product will remain the same.
