HKTDC 2014International Wine and Spirits Fair | 0 Comments
HKTDC HONG KONG INTERNATIONAL WINE AND SPIRITS FAIR: ASIA’S PREMIER WINE EVENT
Asia's most exciting wine & spirit event organised by the HKTDC and held at the HKCEC, the Hong Kong International Wine & Spirits Fair offers a wide range of high quality wine and spirits, beer and other alcoholic beverages, as well as wine production, products and services to buyers from all over the world.
HKTDC Autumn Fairs Bring HK$1.4 Billion to Hong Kong
More than 200,000 Global Buyers Take in Eight Fairs
Nearly 8,700 exhibitors and more than 200,000 global buyers took part in the eight trade fairs organised by the Hong Kong Trade Development Council (HKTDC) in October and to date in November, up five per cent on 2012 totals over the same period.
It’s estimated that the fairs brought over HK$1.4 billion to Hong Kong, not including trade orders.
The eight fairs were: Hong Kong Electronics Fair (Autumn Edition), electronicAsia, Hong Kong International Lighting Fair (Autumn Edition), Hong Kong Optical Fair, and the Hong Kong International Wine & Spirits Fair, which were held at the Hong Kong Convention and Exhibition Centre; and Eco Expo Asia, Sports Source Asia and the Hong Kong International Building and Decoration Materials & Hardware Fair, held at AsiaWorld-Expo.
HKTDC Deputy Executive Director Benjamin Chau noted that more than 200,000 buyers from 163 countries and regions attended the fairs. Nearly 120,000 of them were overseas buyers, an increase of nearly six per cent over the previous year. “According to our statistics, each business traveller spent an average of HK$11,000 during their stay. Based on this figure, the total amount spent by overseas buyers and exhibitors during the fairs could amount to more than HK$1.4 billion, not including earnings from trade orders and related business services.”
Mr Chau said that the overall buyer attendance had returned to pre-financial-crisis levels. Buyers from such emerging markets as Brazil, the Chinese mainland, Indonesia, Malaysia, Poland and Ukraine recorded double-digit growth; attendance from traditional markets Australasia, France, Japan and Korea each rose at least four per cent.
“We think Hong Kong companies can diversify risks by expanding into new markets, taking small orders to widen their customer base and increasing the production of creative and eco-friendly products to improve their competitiveness,” Mr Chau added.
The HKTDC commissioned independent survey agency Ipsos to conduct interviews during the electronics and lighting fairs, seeking their views on market prospects, export outlook and product trends. Nearly 60 per cent of the 1,600 fairgoers interviewed expected market prospects to improve in 2014, while 33 per cent expected no change.
The respondents were generally optimistic about global sales prospects, and they viewed the Chinese mainland, ASEAN and Russia most favourably. Australasia, North America and Western Europe were considered markets with the best growth potential. The survey, however, also showed that manufacturers still face declining profit margins.
Green production is becoming a major trend, with 65 per cent of the buyers interviewed saying that Hong Kong company compliance with environmental regulations is a competitive edge. The buyers also expect manufacturers to incorporate eco-certification, energy efficient products or services and green production practices into their businesses.
“Hong Kong’s suppliers are in an excellent position to capture green business opportunities,” said Mr Chau. “They should consider investing more resources, introducing energy-efficient and emission-reducing production facilities and developing eco-friendly products.”
Smart Product Trends
Regarding product trends for 2014, Electronics Fair respondents believe that the growth of smartphones and tablet computers will continue; they also recognise the potential of 3D printers. For the lighting industry, energy-efficient LED products are becoming more and more popular.
Demand for Small Orders
The survey found that low inventory, short delivery lead-times and small orders have become major sourcing trends. The HKTDC inaugurated the Small-Order Zone last year, and the zone received the UFI Marketing Award 2013 for its effectiveness. At the Electronics Fair and the Lighting Fair, the Small-Order Zone featured 430 suppliers offering more than a thousand products, welcoming nearly 29,000 buyers and generating over 31,000 business enquiries.
Please contact the HKTDC's Corporate Communication Department:
Joe Kainz - Tel: (852) 2584 4216 - Email: firstname.lastname@example.org
About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com.
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