Jewellery trade shows held in mixed mode and open to public
For the first time, two major jewellery shows in Hong Kong are open to members of the public and held in a hybrid format with a physical exhibition supplemented by an online matching service.
The 37th Hong Kong International Jewellery Show and the 7th Hong Kong International Diamond, Gem and Pearl Show hosted by the Hong Kong Trade Development Council (HKTDC) opened yesterday.
The physical exhibition for the twin shows held at the Hong Kong Convention and Exhibition Centre will run until July 29, while the online service will end on August 5.
Because of COVID-19 restrictions on international travel, most of the 440 exhibitors are local companies, who have had to adjust their business strategy.
Mr. Stanley Chu Kum-wing, an expert in jade from Anton Jewellery, said the shows used to be world-oriented, but had become a local exhibition this year.
“We will select jewellery that is more popular with local people,” he said. “The number of exhibits has been reduced to one-third (of the original amount), and prices are very favourable. "
An on-site helper of the HKTDC, who asked not to be named, said the previous jewellery exhibitions were always world-class trade shows, and there were usually many exhibitors from all over the world.
However, almost all of the exhibitors this year were local companies, and the shows were being opened to the public to increase visitor numbers because there were few visitors from overseas.
Singapore’s Leow Antique Watch & Jewellery is one of a few non-local exhibitors. Mr. Lik Szeto, told The Young Reporter that the company has great confidence in the Hong Kong market, where customs declaration procedures are relatively simple and tax is very low.
He said Hong Kong plays a very important role to the company’s customers, who are mainly overseas Chinese from Singapore, Malaysia and Hong Kong.
"Despite the negative impact brought by the epidemic, there are many online channels that are very convenient. Many customers can also consult online and then buy online," said Mr. Szeto.
According to the HKTDC, the export value of Hong Kong's fine jewellery rose sharply by 82.3% to total HK$28.65 billion in the first five months of 2021, compared with the same period last year.
During the same period, local sales of jewellery products, watches and clocks and valuable gifts also increased significantly by 34.2%.
The total export value of fine jewellery is already back to the pre-pandemic level, and the retail market is also showing a good trend, says the council in a press release.
HKTDC Deputy Executive Director Benjamin Chau said: “The first payment under the Consumption Voucher Scheme will be made at the beginning of August, and we believe Hong Kong companies will grasp the opportunity presented by our shows to source jewellery of different types and price ranges in anticipation of this business opportunity.”
Jewellery lover Viola, who preferred to be called by this name, said the epidemic did make her adjust her consumption budget, and she was attracted to the exhibition by the big discounts offered by some exhibitors.
"I don't really know how to choose quality jewellery products. So I’ll usually choose some big brands with guaranteed quality control,” she said.
Viola said she came to the exhibition as many big brands and jewellery appraisal services were gathered at the same venue, making it very convenient for customers who do not know much about jewellery.
Another visitor, Hua Jie, who runs a jewellery company, said that the epidemic had little impact on her willingness to buy jewellery.
"I buy jewellery mainly for investment," said Hua, who added that she believed the value of some jewellery products may appreciate after the epidemic.
《The Young Reporter》
The Young Reporter (TYR) started as a newspaper in 1969. Today, it is published across multiple media platforms and updated constantly to bring the latest news and analyses to its readers.
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