Exhibitors agree the time is right for China
The strongest growth in the global timepiece market in 2011 is to take place in China, according to the majority of exhibitors taking part in a survey Friday at the Hong Kong Watch and Clock Fair.
Held at the Hong Kong Convention and Exhibition Centre (HKCEC) and sponsored by the Hong Kong Trade Development Council (HKTDC) this past week, 62 percent of exhibitors and buyers said the fastest rate of growth will take place in China. This was followed by 21 percent who believed it would be the United States and 18 percent who vouched for India.
China’s large population and fast economic growth means timepiece consumption on the mainland will reach all segments of the market, said Joseph Chu, chairman of the Federation of Hong Kong Watch Trades & Industries.
The survey, commissioned by the HKTDC, gathered opinions from 405 exhibitors and 700 buyers during the event .
The US, Germany and Japan are the exhibitors’ top three timepiece export markets according to the survey. Market research firm Actrium Solution’s Managing Consultant Christine Kwok said the mainland’s current low timepiece consumption provides ample room for watch and clock manufacturers as well as distributors to explore.
Though more than 60 percent of exhibitors interviewed have – or are planning to develop – sales channels to the mainland market, the remainder said they still are hesitant about such a move .
“It is largely because they still lack knowledge about the mainland market or have yet to find suitable distributors to help them expand their business there,” said Kwok, adding that the fair has provided a platform for these exhibitors to explore business potential as much as establishing brands and launching new products.
China Daily
(HK Edition 09/11/2010 page3)
http://www.chinadaily.com.cn/hkedition/2010-09/11/content_11288194.htm
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