Hong Kong Watch & Clock Fair 2024 Concludes with Strong Global Participation and Eco-Friendly Focus

The 43rd HKTDC Hong Kong Watch & Clock Fair and 12th Salon de TIME, organized by the Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd, and The Federation of Hong Kong Watch Trades & Industries Ltd, successfully concluded with robust participation despite temporary disruptions from typhoon Yagi. Extended opening hours and the EXHIBITION+ hybrid model ensured exhibitors and buyers could capitalize on business opportunities across both physical and virtual platforms.

Global Buyer Participation and Extended Opportunities

The physical exhibitions attracted over 17,000 buyers from 106 countries, underscoring Hong Kong’s status as a major watch trading hub. Key buyer markets included Mainland China, Taiwan, India, Indonesia, Japan, Malaysia, and Singapore. Additionally, EXHIBITION+ extended the platform for online discussions until September 14, giving buyers and exhibitors more time to network and strike deals.

The event welcomed over 700 exhibitors from 15 countries, marking a strong return of international buyers. Sophia Chong, Deputy Executive Director of HKTDC, emphasized that this year’s fair provided exhibitors with direct insights into customer preferences, enhancing their ability to design and develop competitive products.

Positive Business Outcomes and Buyer Feedback

Numerous exhibitors reported promising business leads. Amy Chow, Vice President of Gordon C & Co Ltd, highlighted the success of the new Green Solutions Suppliers label, which attracted significant interest from buyers, particularly from the Middle East and Southeast Asia. Chow anticipates a 10-20% increase in orders compared to last year, with eco-friendly watches accounting for 10-15% of new deals.

International buyers were also pleased with the fair’s offerings. Stuart McGrath, Managing Director of Armoura Designs Ltd from Ireland, used both the physical event and the hktdc.com Sourcing platform to connect with suppliers. His new business deals, including eco-friendly packaging solutions, totaled around US$110,000.

Mohammad Sajjad, Assistant Vice President of Ethos Limited in India, secured orders worth US$1.2 million for luxury watches and components, emphasizing the value of HKTDC’s Scan2Match feature for efficient, eco-friendly sourcing.

Key Insights from Industry Survey: Growth and Emerging Trends

The HKTDC conducted a survey during the event, interviewing 900 exhibitors and buyers. Results showed optimism for the industry, with 42% of respondents expecting sales growth over the next two years, and 47% expecting stable sales. Japan, Taiwan, South Korea, and Australia were identified as promising traditional markets, while ASEAN countries, the Middle East, and India emerged as top growth markets.

Smartwatches remain the dominant product category, with 40% of respondents expecting their continued popularity. Quartz analogue watches (17%), mechanical watches (15%), and digital watches (14%) also showed significant potential. When it comes to growth, smartwatches, fashion watches, and leisure watches were cited as the top categories by respondents.

Focus on Sustainability with Green Solutions Suppliers Label

With sustainability becoming a critical trend in the watch industry, this year’s fair introduced the Green Solutions Suppliers label, helping buyers easily identify eco-friendly products. Thirty exhibitors adopted the label, showcasing watches made from sustainable materials.

Amy Chow from Gordon C & Co Ltd credited the label for attracting new clients and boosting interest in eco-friendly products. The company expects eco-friendly watches to comprise a significant portion of their new orders.

Hybrid Model Enhances Buyer Experience

The EXHIBITION+ hybrid model continued to bridge physical and virtual interactions, with features like Click2Match and Scan2Match streamlining the buyer-exhibitor connection process. Buyers such as Ilona Remesova from Czechia used the platforms to connect with exhibitors despite the temporary fair closure, ensuring smooth business exchanges. These digital tools provided an extended engagement window for global buyers and helped them continue sourcing products efficiently.

A Successful Blend of Tradition and Innovation

The 43rd Hong Kong Watch & Clock Fair and Salon de TIME 2024 demonstrated the resilience of Hong Kong's watch industry. With strong participation, innovative hybrid models, and a clear focus on sustainability, the event highlighted the ongoing evolution of global watch trends. The fair’s success paves the way for future growth, with participants eagerly anticipating the next opportunity to connect and collaborate.