Hong Kong Watch & Clock Fair news
Mainland buyer attendance at Watch & Clock Fair boosted by individual travel

Relaxed individual travel and the Cepa factor have combined to boost mainland buyer attendance at the Hong Kong Watch & Clock Fair which ended on Sept 7. Close to 1,500 mainland buyers have visited the fair. Industry leaders reckon the two measures will benefit the development of the industry.

Co-chairman of the Fair Organising Committee Mr. Tse Wai Hang said the relaxation of individual travel to Hong Kong for residents in several mainland cities not only had boosted the sales of local watch retailers by 50%, but also brought new mainland buyers and extra business for the exhibitors. Many of these buyers were from the smaller watch shops in the mainland.

“Buyers from Shanghai tend to place orders quickly without much bargaining on price. Mainland buyers have very strong spending power. Mid- to high-end Hong Kong watches are their favourite,” Mr. Tse said.

One of the exhibitors, Mr. Patrick Chau, Chairman of Peace Mark (Holdings) Limited, said quality brands are increasingly sought after by mainland consumers. The company will focus its efforts on understanding consumer preference in different regions and continue to expand its franchise business of branded watches in China.

A survey conducted during the fair found that nearly 60% of interviewed buyers and exhibitors have identified their Cepa strategy and 19% of interviewed buyers indicated that they would source more Hong Kong made watches for the mainland market.

“The industry should capitalise on this opportunity and do its best to fulfill rush orders in the remainder of this year,” Mr. Tse said.

Another exhibitor, Samuel Ribet, Assistant Director of Daka Development Ltd specialising in design and marketing, pointed out that traditional OEM (original equipment manufacturing) business is facing intense competition. Developing one's own innovative products will add more value and create a niche in sales and marketing, he added.

For example, the company's Pin Clock which won the first prize of the Open Group at the 20th Hong Kong Watch & Clock Design Competition has attracted a lot of enquiries from buyers. Featuring an innovative design based on electromagnetic principles, Pin Clock applies a patented mechanism which lifts and retracts pins to display hours and minutes. The company plans to develop a series of new models using the same patented technology.

According to Benjamin Chau, TDC's Director of Exhibitions, a total of 15,137 buyers visited this year's fair, up 3.7%. The Chinese mainland topped the list with 1,489 buyers, up 10.5%. The turnout is satisfactory.

“TDC will step up promotions in the Chinese mainland to attract more private enterprises to source Hong Kong products from our fairs,” Mr. Chau added.

The next fair is scheduled for September 1-5, 2004 at the Hong Kong Convention and Exhibition Centre.

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Source: TDC press release
September 2003