During its two jewellery fairs, which welcomes exhibitors and visitors from all over the world, the HKTDC commissioned an independent on-site survey that interviewed 1,347 exhibitors and buyers to gauge their business expectations and views on the industry’s latest developments.
With the Sino-US trade conflict weighing on the global economy, the survey found that 60% of respondents were neutral or positive about their export performance over the near term, while close to 80% were optimistic or neutral about the prospects of Mainland China and the United States resolving their trade issues.
In terms of overall sales, 61% of respondents said they expected to see no change this year, with 33% expecting sales to increase and only 6% anticipating a sales decline. This suggests that the world-wide jewellery industry is generally optimistic about the business outlook, despite the current global uncertainties. The survey also found that 47% of respondents expect production or sourcing costs to rise, while 68% anticipate that prices will remain unchanged, 25% expect prices to rise, and 7% believe that prices will drop.
Trend-based fashion jewellery most popular among survey respondents
Looking at specific product categories, most respondents expect trend-led fashion jewellery to have the greatest market potential (71%), followed by designer jewellery (67%), jewellery for weddings and special occasions (64%) and precious jewellery (62%).
In terms of the retail price range, the majority of respondents (63%) expect products priced from US$501 to US$1,000 (£380-£758) to have the greatest potential, followed by products in the US$1,001-US$5,000 (£759-£3791) price range (54%) and those in the mid-to-low price range of US$101-US$500 £77-£379)/
White gold expected to be most popular product material in 2019
As for the most popular product materials in 2019, the survey found that 54% of respondents favoured white gold, followed by rose gold (39%), platinum (36%) and yellow gold (36%). In terms of gemstones, diamonds remained the most popular (54%), followed by aquamarine (18%), jade (17%) and pearls (15%).
The respondents were also asked about the growth prospects for different emerging markets over the coming two years. Most considered the prospects of Mainland China to be the most promising (64%), followed by ASEAN countries (42%), Eastern Europe (33%) and Russia (33%). For traditional markets, the respondents viewed Hong Kong (55%) and Western Europe (55%) most favourably, followed by North America (50%) and Japan (40%).