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TRADE SHOWS

AS YEAR ENDS FOR REGION’S DIAMOND AND JEWELRY TRADE, BUYERS HEAD FOR JMA HONG KONG, LAST MAJOR SHOW OF 2019

 

JMA Hong Kong, the final major Asian trade show of 2019, which takes place for the 27th time right at the start of the traditional Western holiday shopping season and about three weeks before the beginning of the Chinese New Year, has become the focus of a great deal of attention this year, in part because of the political turmoil currently bubbling in the Asian business capital.

The show, which will run November 28 through December 1 at the Hong Kong Convention and Exhibition Center (HKCEC), 1 Expo Drive in Wanchai, on Hong Kong’s Central island, attracted more than 26,000 buyers over its four-day run last year, which was a 7 percent increase compared to the previous edition in 2017, and a record high number of visitors.

November is a good timing for jewelry trading, the organizers contend, as wholesalers and retailers have stronger impulse on sourcing and restocking inventories before year-end holiday season.

The fair is the only cash and carry jewelry show in Hong Kong, welcoming buyers both from the professional trade and the consuming public.

CHINA’S RISING DOMINANCE IN HONG KONG

The question on many people’s mind has less to do with the Hong Kong’s traditional status as the gateway to the Asian jewelry markets, and more whether the city will continue to play the same economic role in the region as it has for decades, including after end of British role in 1997 and its transition to an autonomous economic and political entity within the greater Chinese entity.

The Chinese promise that its relationship with Hong Kong would function according to “one country, two systems” rules came with a time limit of 50 years only, which in three years’ time will be half over. a blink of an eye in historical terms. What many believe is that, as the increasingly falls into China’s economic orbit, pressure to ensure that it function China’s political orbit will increase continuously. To some degree, they say, the troubles of the past year are indicative of changes that are on their way.

JMA Hong Kong is the only cash and carry jewelry show in Hong Kong, welcoming buyers both from the professional trade and the consuming public. 

What is certain, however, is that China’s economic dominance remains Hong Kong’s strongest card, and this will continue to the be case even as protests in the street continues. The figures coming out of China continue to be astounding. During Singles’ Day shopping extravaganza organize earlier this month by the Alibaba online giant, Chinese consumers reportedly spent $10 billion on a variety of consumer goods in under 30 minutes. 

Furthermore, while affluent Chinese consumers have for years shown a preference for global brands and labels, people are now gravitating more to high-end Chinese designers.

The Wall Street Journal reported that foreign brand shares have dropped by 78 percent in ten years. In electronics, for example, Apple only has a market share of 8.6 percent, ranking fifth behind Huawei, Oppo, Vivo and Xiaoimi, all of whom are Chinese.

The Chinese market increasingly operates according to its own rules. According to De Beers, “couple rings” with matching designs, with one for both partners, is a peculiarity of the market, with 72 percent) of saying that they acquire such items for their wedding.
The most popular couple rings are set with diamonds, making up 83 percent, De Beers reports.

The Hong Kong Convention and Exhibition Center, site of the JMA Hong Kong Show, which will run November 28 through December 1. 

MID TO EXHIBIT AT JMA HONG KONG, NOVEMBER 28-DECEMBER 1

As it does at four Hong Kong shows each year, MID House of Diamonds will present a massive display of merchandise at the 27th JMA Hong Kong.

The MID booth will be located at Booth ED2 in the Diamond Zone in Hall 1 of the Hong Kong Convention and Exhibition Center. It already is possible to set up an appointment at the show by contacting the company’s Hong Kong office at tel: +852-2-545-7118 or email: [email protected]

The MID booth will feature a more than 10,000 white and fancy-colored loose diamonds, including blue, pink, green and yellow, in all shapes and sizes from 0.30 carats to plus-10.00 carats. All eight of the company’s international sales offices will be sending much of their top-quality material, among them a selection of rare GIA certified loose diamonds.

Visitors to the Hong Kong Jewellery & Gem Fair are invited to discover what MID is offering by way of the company’s MID HOUSE OF DIAMONDS app. Designed for smartphones and tablet computers using the Apple IOS and Android operating systems, it has been created especially to meet the needs of the professional diamond trader, tapping into the massive global inventory of merchandise of one of the world’s largest diamond suppliers. It is a fully-functional ordering system. Users are able to conduct detailed searches for specific loose diamonds, receive real-time responses, visually examine the stones and relevant grading reports, view prices and place orders and requests. During shows at which MID exhibits, it provides information about booth location, directions and live updates.