The physical exhibitions of the 43rd HKTDC Hong Kong Watch & Clock Fair and 12th Salon de TIME, organised by the Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades & Industries Ltd, successfully concluded yesterday.
Despite the fairs closing temporarily due to typhoon Yagi, businesses were still able to capture more opportunities as the organisers extended the opening hours for three of the five fair days. Buyers and exhibitors were also proactively encouraged to use the EXHIBITION+ hybrid model for business exchange.
The physical exhibitions attracted some 17,000 buyers from 106 countries and regions. Global buyers from outside Hong Kong mainly came from Mainland China, Taiwan, India, Indonesia, Japan, Malaysia, the Philippines, Singapore and Thailand, highlighting Hong Kong’s importance as a watch trading centre. The EXHIBITION+ hybrid model will enable exhibitors and buyers to enjoy extended business discussions until 14 September.
Salon de TIME and CENTRESTAGE, HKTDC’s concurrent fashion event, were also fully open to the public for the first time. The public count for the events exceeded 15,000 visits. Watch and fashion enthusiasts were able to appreciate the pinnacle in craftsmanship and design and purchase their favourite items.
HKTDC Deputy Executive Director Sophia Chong said: “The Hong Kong Watch & Clock Fair and Salon de TIME brought together over 700 exhibitors from 15 countries and regions. In addition to welcoming international buyers, this year’s Salon de TIME was fully open to the public for the first time, providing a one-stop sourcing platform and creating new business opportunities. Exhibitors were able to learn about customer preferences immediately, which will help strengthen product design and research and development, enhancing competitiveness in the future.”
Ms Chong added: “An exciting line-up of mega events will captivate visitors this autumn. The Hong Kong Electronics Fair (Autumn Edition) and the concurrent electronicAsia will be held on 13-16 October, followed by the Hong Kong International Lighting Fair (Autumn Edition) on 27-30 October. The International Outdoor and Tech Light Expo will be held from 29 October to 1 November. These fairs will be held under the EXHIBITION+ hybrid model, helping businesses capture new opportunities.”
Survey uncovers promise in ASEAN and the Middle East
To gauge watch and clock industry trends for next year, the HKTDC conducted an on-site survey, interviewing some 900 exhibitors and buyers on the market outlook and product trends.
The survey found that 42% of respondents expect overall sales to grow over the next 12-24 months, while 47% expect sales to remain unchanged. Japan, Taiwan, Australia & Pacific Islands, and South Korea were seen as offering the best growth prospects over next two years among traditional markets, while ASEAN, the Middle East and India were seen as offering the most promising growth prospects over the next two years among emerging markets.
In terms of product trends, 40% of respondents expected smartwatches to continue as the most popular watch category. Other respondents pointed to quartz analogue watches, cited as the most popular watch category by 17%, mechanical watches, cited by 15%, and digital watches, cited by 14%. When asked about watches with the highest growth potential, 46% of respondents cited smartwatches, 37% said fashion watches and 19% said leisure watches.
Green Solutions Suppliers label debuts this year
In recent years, more watch manufacturers have been using sustainable materials to make watches and watch straps. Amid the sustainability trend, the two fairs introduced Green Solutions Suppliers label this year to make sourcing easier for buyers. These labels were used by 30 exhibitors.
Amy Chow, Vice President of Hong Kong exhibitor Gordon C & Co Ltd, said: “The Green Solutions Suppliers label helped attract buyers to our booth. Buyers from the Middle East and Southeast Asia were very interested in our eco-friendly watches. The business atmosphere is good this year. We expect that new orders at this year’s exhibition will increase by 10-20% compared to last year. About 10-15% of new orders will be for environmentally friendly watches.”
Armoura Designs Ltd, an Irish jewellery and watch company, has been using the hktdc.com Sourcing platform to find suppliers. Mr Stuart McGrath, the company’s Managing Director is impressed with the platform and has connected with various quality suppliers through it. He said: “This is my first time visiting the Hong Kong Watch & Clock Fair in person. I have found five watch suppliers for OEM projects and have also procured a green packaging solution from an exhibitor. The total value of these business deals is around US$110,000 (~HK$858,000). The EXHIBITION+ model enables me to source online and offline for more opportunities.”
Ethos Limited is a retail chain for deluxe watches in India. Mohammad Sajjad, the company’s Assistant Vice President, visited the fairs to look for new brands. He said, “I have ordered sapphire watches and sapphire watch cases, stainless steel watches and automatic health indicator watches from three Hong Kong exhibitors. The order amount was around US$1.2 million (~HK$9.4 million). This time, I also used the Scan2Match function. It is a useful and resourceful tool. It helps record details of exhibitors of interest in a digital, eco-friendly manner.＂
Ilona Remesova, Prime’s Purchasing Manager, a buyer from Czechia, said that she continued to contact exhibitors during the fairs’ temporary closure through HKTDC’s Click2Match smart business matching platform at her hotel and successfully arranged online meetings. She also returned to the venue when the exhibition reopened and continued the conversation with the exhibitors she contacted online before.
Websites
Hong Kong Watch & Clock Fair: hkwatchfair.hktdc.com
Salon de TIME: hkwatchfair.hktdc.com/te
Also read: Inaugural Hong Kong Shopping Festival ends successfully
About the 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 SMEs, in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
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