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HK Jewelry Show Participants Optimistic About Jewelry Market
Most exhibitors and buyers at the Hong Kong International Jewelry Show feel confident in the market outlook for 2001, according to a survey released by the Hong Kong Trade Development Council Thursday.
Of the 464 exhibitors and 892 buyers interviewed, 45 percent of exhibitors and 55 percent of buyers expect the market outlook for 2001 to be better or slightly better than 2000.
As for Hong Kong's jewelry manufacturing strength, the survey found about 40 percent of Hong Kong companies interviewed are original design manufacturing (ODM) manufacturers and the percentage is expected to grow in the coming years.
The key attractions of Hong Kong products are quick delivery, innovative design and good quality, the survey said.
On the Chinese mainland market, the survey predicted that the mainland's impending entry to the WTO is expected to lead to an expansion of the jewelry retail market.
However, the survey also gave a warning that Hong Kong jewelry manufacturers may face keener competition with their mainland counterparts after it joins WTO.
The survey revealed Hong Kong jewelry manufacturers' keen interest in the mainland market. A quarter of exhibitors currently has sales activities in the mainland and about 40 percent plan to tap into the market, it said.
On the overall jewelry market, respondents expect the EU to be the fastest growing jewelry market, and more than 40 percent of respondents are optimistic about the U.S. market despite concerns that the U.S. economy may be slowing down.
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