The sixth HKTDC Hong Kong International Diamond, Gem & Pearl Jewellery Show (Feb 26 to March 2) and the 36th HKTDC Hong Kong International Jewelry Show (Feb 28 to March 4), both coordinated by the HKTDC, have reached a positive conclusion. The two shows attracted a total of more than 4,600 exhibitors and received a record number of more than 90,000 buyers from 141 countries and territories, up 4 percent from the year before. More than 35,000 buyers attended the Diamond, Gem & Pearl Show while the Jewellery Show was visited by around 55,000 people.
Benjamin Chau, HKTDC ‘s Deputy Executive Director, said: “In recent years, in the face of an unpredictable global economy, jewellers have been aggressively improving their design and R&D capabilities. In the exhibits at this year’s shows, the increasing diversity of designs and materials was demonstrated which successfully attracted the attention of global buyers.
“We are pleased that the buyer attendance at the two shows has reached a record high, with a satisfactory growth in attendance from emerging markets such as Mainland China, India and ASEAN countries such as the Philippines, Singapore, Malaysia and Indonesia. Implementing the Guangdong-Hong Kong-Macao Greater Bay Area Outline Development Plan is set to strengthen Hong Kong ‘s position as an international exhibition and sourcing hub and to generate even more opportunities for businesses in Hong Kong.
Survey reveals positive experiences in the jewellery market
The HKTDC commissioned an independent on-site survey during the shows, which interviewed 1,347 exhibitors and buyers to gage their business expectations and views on the latest developments in the industry. The survey showed that 60% of respondents were supportive or positive about their export results over the near term, while nearly 80% were optimistic or favorable about Mainland China and the United States’ prospects of resolving their trade issues.
In terms of total revenue, 61 percent of respondents said they anticipated no improvement this year, with revenues expected to grow by 33 percent and revenue expected to fall by just 6 per cent. This suggests that despite the current global uncertainties, the jewellery industry is generally optimistic about the business outlook. The survey also found that 47 percent of respondents expect the cost of production or sourcing to increase, while 68 percent expect prices to remain unchanged, 25 percent expect prices to rise, and 7 percent think prices to fall.
Planned return on sales in 2019
– A 33 per cent rise
– 61 per cent unchanged
– Reduce by 6 per cent
Pricing expected to change in 2019
– A 25 per cent boost
– 68 per cent unchanged
– Cut by 7 per cent
Trendiest fashion jewellery among survey respondents
Looking at different product categories, most respondents expect fashionable fashion jewelry to have the greatest market opportunity (71%), followed by designer jewelry (67%), wedding and special occasions jewelry (64%) and precious jewellery (62%). About the retail price range, most respondents (63 percent) expect goods priced between US$501 and US$1,000 to have the greatest potential, followed by goods in the price range of US$1,001-US$5,000 (54 percent) and those in the mid-to-low price range of US$101-US$500 (53 percent).
The survey found that 54 % of respondents favored karat-white gold, followed by karat-rose gold (39%), platinum (36%) and karat-yellow gold (36%) for the most popular product materials in 2019. Diamonds remained the most common in terms of gemstones (54 per cent ) , followed by aquamarine (18 per cent), jade (17 per cent), and pearls (15 per cent).
In addition, the respondents were questioned about the growth prospects for different emerging markets over the next two years. Most considered Mainland China ‘s prospects to be the most promising (64%), followed by the ASEAN countries (42%), Eastern Europe (33%) and Russia (33%). The respondents viewed Hong Kong (55 percent) and Western Europe (55 percent) most favorably for traditional markets, followed by North America (50 percent), and Japan (40 percent).
High-end jewellery still delivers
The Jewellery Show, held at the Hong Kong Convention and Exhibition Centre, is the global jewelry industry ‘s annual signature event. Many exhibitors take the opportunity to launch or promote new jewellery items, lay the groundwork for sales for the coming year and help develop global markets.
Hong Kong exhibitor Foo Hang Jewellery Ltd is one of the largest importers of diamonds in Hong Kong with a history that goes back over 70 years. Speaking of the company exhibiting for the second time at the Jewelry Show in the Hall of Extraordinary, Terence Wu, Head of Purchasing & Marketing, said: “With the presence of the world’s most renowned jewelry firms, this luxury zone offers an perfect forum for us to display exclusive and exclusive collections and draw high-end clients from all over the world. Buyer traffic is on last year, and we met new buyers from Mainland China , Taiwan and the USA. We’ve already sold jewellery worth more than HK$1 million on the show’s first day.
Buyers wishing to source in the Greater Bay Area
This year marks the sixth year that the HKTDC adopted the format of “two shows, two venues,” showcasing finished jewellery at the Jewellery Show and raw materials for jewellery at the Diamond, Gem & Pearl Show, held at AsiaWorld Expo. The twin-show model offers a highly successful forum for exhibitors and buyers to link up with potential business partners.
Guangzhou City You Nuo Jewelry Co Ltd has sold its natural colored stones and jewelry items primarily through third-party e-commerce platforms such as Amazon and Tmall to Mainland Chinese and international buyers. Liu Wenhui, CEO of the company, said: “Every year we take advantage of the Diamond, Gem & Pearl Display to buy more colored stones like morganite, aquamarine, tanzanite, rubies and emeralds in 2019. Discussions for various stones are now under way with current suppliers, with orders valued at US$ 1-2 million. At the same time, we are looking around for new ruby and emerald suppliers. At the show, we expect to buy products worth a total of 4 million USD.
In addition to the exhibits, during the two shows the HKTDC arranged a series of events to encourage trade between industry. This included the Jewellery Gala Dinner, Jewelry development workshops, marketing strategies and quality expectations, as well as customer conferences, jewelry parades and networking receptions.
