Twin HKTDC Hong Kong jewellery shows attract some 81,000 buyers from across globe, creating world-class trading platform

Over 60% of industry players expect sales to grow in the coming 1-2 years

HONG KONG, Mar 4, 2024 - (ACN Newswire) - Organised by the Hong Kong Trade Development Council (HKTDC), the 40th HKTDC Hong Kong International Jewellery Show and 10th HKTDC Hong Kong International Diamond, Gem & Pearl Show gathered over 4,000 exhibitors from 44 countries and regions. The Jewellery Show concluded at the Hong Kong Convention and Exhibition Centre today and the Diamond, Gem & Pearl Show closed at AsiaWorld-Expo on Saturday, marking the successful return of the "two shows, two venues" format for the first time since the pandemic.

The shows attracted some 81,000 buyers from 137 countries and regions. The Diamond, Gem & Pearl Show drew over 31,000 buyers from 125 countries and regions, while more than 49,000 buyers from 132 countries and regions joined the Jewellery Show. For the two shows together, buyers from Mainland China, India, Japan, the Philippines, Thailand and the United States ranked top in terms of non-Hong Kong visitors, underscoring the shows' leading world position.

Exhibitors and buyers were optimistic about a thriving jewellery market. An on-site survey of 1,435 respondents found 62.3% anticipated growth in overall sales in the next one to two years while 31.3% expected stable sales and only 6.4% predicted a decrease.

Sophia Chong, Deputy Executive Director of the HKTDC, said: "The twin jewellery shows successfully attracted buyers from around the world to return to Hong Kong, and it is very encouraging. Exhibitors stated that buyers had shown a positive sentiment on purchasing, and had connected with new clientele, including those from emerging markets, which is crucial for business growth."

"For the upcoming exhibition peak season, the HKTDC will present some 10 business fairs next month, encompassing a wide range of industries including innovation, electronics, gifts, home products, fashion and packaging. These events will serve as platforms for buyers and suppliers to make business and connect, and in turn solidify Hong Kong's position as a global exhibition centre and bring substantial economic benefits to the city."

Under the hybrid EXHIBITION+ format, the twin jewellery shows combined in-person access at the venues with online negotiations via HKTDC's Click2Match smart business-matching platform, which will be available until 11 March, and buying through hktdc.com Sourcing. The HKTDC launched the self-authentication service at this year's twin shows, enabling buyers to verify identities and obtain electronic badges (eBadges) in advance for rapid, seamless access to venues, greatly enhancing the trade show experience. Most buyers welcomed this eBadge arrangement, including the self-authentication feature and entry arrangements.

Over 60% of exhibitors and buyers optimistic on sales

The HKTDC surveyed exhibitors and buyers on-site, with key findings below:

Market and industry outlook

- Of the respondents, 62.3% anticipated growth in overall sales in the next 12 to 24 months, 31.3% foresaw stable sales and only 6.4% expected a decrease.
- On revenue, 44.4% of exhibitors expected FOB selling prices to rise this year while 69.9% believed production or sourcing costs would go up.
- Respondents considered the Middle East (70.6%), Australia and Pacific Islands (68.6%), India (65.3%), North America (59.2%) and ASEAN (56.3%) to be promising or very promising jewellery markets over the next two years in terms of growth.
- The most popular potential markets were Mainland China (21.2%), North America (17.3%), Northern and Western Europe (16.2%), ASEAN (15.5%), Japan (12.4%), Hong Kong (10.9%) and the Middle East (10.7%).

Product trends:

- In terms of product categories, interviewees expected trendy fashion jewellery (59.5%), precious jewellery (41%) and designers' jewellery (31.1%) to have the greatest market potential.
- Karat white gold (47.3%), karat yellow gold (44.5%) and karat rose gold (24%) were the most popular precious metal products this year.
- Diamond (53.3%) was the most popular gemstone, followed by ruby (28.6%) and pearl (21.5%).

Exhibitors reported higher sales than last year

Trading at the twin shows was promising. One Hong Kong exhibitor, Jessica Kwan, Director of Universal Jewellery Design Centre Limited, said: "We have been participating in the Hong Kong International Jewellery Show since its inception. Over the past 40 editions, our business grew together with the show and our jewellery products are exported worldwide today. During the fairs, we met with new buyers from Mainland China, the Philippines and the Middle East. We expect the sales turnover generated by this year's show to increase by 20%."

At the Hong Kong International Diamond, Gem, and Pearl Show, one of the exhibitors, Rosaria Borriello, Manager of Borriello Massimo from Italy said: "We love the Hong Kong show very much. It's the perfect place to do business and meet customers from everywhere. Our Mediterranean red coral showcased this year has again attracted strong buyers' interest. Customers from Mainland China, India and the Philippines are still our biggest buyers. We've also received enquiries from several buyers from the United States. Sales from Hong Kong's exhibition contribute more than 20% of our business. This show is really important for business expansion."

From a buyer's perspective, Nezar J. Mukhtar, Managing Director of Jamla Jewelry from Saudi Arabia, said: "The Diamond, Gem and Pearl Show draws a large number of industry players from all over the world and serves as the best sourcing platform. Talks are now underway with three exhibitors from Hong Kong and India for loose diamonds in different sizes, colours and shapes. I've also looked for new suppliers and expected to conclude at least US$10 million worth of business. The fair is the perfect place for business expansion."

Chanyut Khieonavavongsa, Graduate Gemologist (GIA) from Tassabee Gems in Thailand, said: "I've been in the jewellery business for 40 years, I visit the HKTDC Jewellery Show regularly because I find more attractive designs and more new suppliers here than at other shows. I have placed orders with four to five suppliers from Hong Kong, Korea and Turkiye for US$100,000 worth of 18K gold mountings. I plan to buy at least US$100,000 worth of finished jewellery at the show too. I like the brand new online self-authentication function within the HKTDC Marketplace App for direct admission. It helps me save queuing time and is very convenient."

Exciting line-up of technology and lifestyle fairs set for next month

Hot on the heels of the twin jewellery shows, the HKTDC will organise a series of trade fairs including the Hong Kong International Lighting Fair (Spring Edition) and the inaugural Smart Lighting Expo from 6-9 April; InnoEx and Hong Kong Electronics Fair (Spring Edition) from 13-16 April; and Fashion InStyle, Home InStyle, Hong Kong Gifts & Premium Fair, Hong Kong International Printing and Packaging Fair, the brand new Deluxe Printpack Hong Kong and Hong Kong International Licensing Show late next month. These events will give buyers a unique one-stop sourcing experience and help exhibitors expand their market reach while boosting Hong Kong's economy. For more details, please visit www.hktdc.com.

Photo download: https://bit.ly/3V1Mwam

Websites:
Hong Kong International Jewellery Show: https://www.hktdc.com/event/hkjewellery/en
Hong Kong International Diamond, Gem & Pearl Show: https://www.hktdc.com/event/hkdgp/en

HKTDC Media Room: https://mediaroom.hktdc.com/en

Media enquiries
Please contact the HKTDC's Communications & Public Affairs Department:
Jane Cheung
Tel: (852) 2584 4137
Email: [email protected]

Clayton Lauw
Tel: (852) 2584 4472
Email: [email protected]

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Source: HKTDC

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