The Hong Kong Trade Development Council (HKTDC) recently issued a statement summarising the performance of both its shows – the sixth edition of the HKTDC Hong Kong International Diamond, Gem & Pearl Show (February 26 to March 2, 2019) and the 36th HKTDC Hong Kong International Jewellery Show (February 28 to March 4, 2019).

“The two shows featured a total of more than 4,600 exhibitors and welcomed a record number of over 90,000 buyers from 141 countries and regions, up 4% over the previous year,” HKTDC said summing up the main statistics of the shows. “More than 35,000 buyers attended the Diamond, Gem & Pearl Show, while about 55,000 visited the Jewellery Show.”

Benjamin Chau, Deputy Executive Director of the HKTDC, commented: “Facing an uncertain global economy, jewellers have been actively enhancing their design and R&D capabilities in recent years. The growing diversity of designs and materials was demonstrated in the exhibits at this year’s shows, which successfully attracted the attention of global buyers. We are delighted that the buyer attendance at the two shows 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. The implementation of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area is set to bolster Hong Kong’s position as an international exhibition and sourcing hub and generate even more opportunities for Hong Kong’s businesses.”

The HKTDC had commissioned a survey by an independent agency which was conducted on-site, during the shows. The survey interviewed 1,347 exhibitors and buyers to gauge their business expectations and views on the industry’s latest developments. “With the Sino-US trade conflict weighing on the global economy, the survey found that 60% of respondents were neutral or positive about their export performance over the near term, while close to 80% were optimistic or neutral about the prospects of Mainland China and the United States resolving their trade issues,” HKTDC said reporting the survey’s findings.

With regard to overall sales, 61% of respondents said they expected to see no change this year, with 33% expecting sales to increase and only 6% anticipating a sales decline. “This suggests that the jewellery industry is generally optimistic about the business outlook, despite the current global uncertainties,” HKTDC commented.

The survey also found that 47% of respondents expect production or sourcing costs to rise, while 68% anticipate that prices will remain unchanged, 25% expect prices to rise, and 7% believe that prices will drop.

The survey polled respondents about specific product categories, as well. A majority of those interviewed expect trendy fashion jewellery to have the greatest market potential (71%), followed by designer jewellery (67%), jewellery for weddings and special occasions (64%) and precious jewellery (62%).

In terms of the retail price range, the majority of respondents (63%) expect products priced from US$ 501 to US$ 1,000 to have the greatest potential, followed by products in the US$ 1,001-US$ 5,000 price range (54%) and those in the mid-to-low price range of US$ 101-US$ 500 (53%).

In terms of the most popular materials in 2019, the survey found that the major number of respondents (54% ) favoured karat-white gold; followed by karat-rose gold (39%), platinum (36%) and karat-yellow gold (36%). In terms of gemstones, diamonds remained the most popular (54%), followed by aquamarine (18%), jade (17%) and pearls (15%). 

Asked about the growth prospects for different emerging markets over the coming two years, most considered Mainland China to be the most promising (64%), followed by ASEAN countries (42%), Eastern Europe (33%) and Russia (33%). For traditional markets, the respondents viewed Hong Kong (55%) and Western Europe (55%) most favourably, followed by North America (50%) and Japan (40%).

“This year marks the sixth year that the HKTDC has adopted the "two shows, two venues" format, showcasing finished jewellery at the Jewellery Show and jewellery raw materials at the Diamond, Gem & Pearl Show, held at AsiaWorld-Expo,” HKTDC stated. “The twin-show format provides exhibitors and buyers with a highly effective platform to connect with potential business partners.”