As the records show, about 17,000 trade buyers visited recently closed 30th anniversary edition of Hong Kong Watch & Clock Fair. It is also noted that there were 12 percent more visitors from rapidly developing nations, mostly from the Middle East, Southeast Asia, India and the Chinese mainland.
To secure better insight in market trends, Hong Kong Trade Development Council which organized the event ordered an independent survey. For this purpose, researchers interviewed 408 exhibitors, as well as 705 buyers. The results show that cautious optimism is the prevailing opinion about the market in the next year, with the highest hopes set for the Chinese market. Besides, the interviews of exhibitors show that approximately four fifths of them either received orders, or they are at least negotiating orders during the “Baselword of the East”.
It is also important to underline that about two thirds of the fair exhibitors have already organized sales in the Chinese mainland, or they are making preparations to start selling products there in the next three years. Those that have already started selling in the highest populated nation in the world, expect that the sales volume will be increased in the upcoming year.
When speaking of their biggest concerns, the watch manufacturers underlined higher production costs on the Chinese mainland, and about one third of them expect higher prices of the watches for that reason.
Prognosis is Black, but Only for Preferred Color
Buyers generally agree on the assessment that China is the market that will grow most. Other promising markets are Southeast Asia and India. Quite interestingly, most buyers predict that black will be the most desired color for both straps and dials.
The survey showed that almost half of the manufacturers acquire a part for their products from Japan. However, one third of them have admitted that they started looking elsewhere after the catastrophic Japanese earthquake that occurred earlier this year.
Benjamin Chau, the Deputy Executive Director of the organization that made this fair, expressed his satisfaction with the latest edition of the biggest watch fair on Earth. According to his opinion, the survey proves that both exhibitors and buyers use this event in order to connect with buyers and suppliers. “The Hong Kong Watch and Clock Fair will continue to play an important role for companies that want to establish their business network,” concluded mister Chau.