The Hong Kong Trade Development Council (TDC) will showcase a
vast range of products from 30 Hong Kong companies at the Import
Section of the 102nd Canton Fair.
Products on show include electronic gadgets, electrical
appliances, decorative items, gifts, jewelry, food and
utensils.
It is the second time the TDC has brought Hong Kong companies to
participate at the Canton Fair.
TDC's Senior Manager of Product Promotion Daniel Lam pointed out
that the Canton Fair is its preferred platform to promote Hong Kong
products to tens of thousands of mainland buyers.
TDC also sees potential for Hong Kong products on the mainland,
especially the new-middle-class consumer market.
The size of this market on the mainland is growing quickly. At
present there are about 100 million people in the middle income
strata, with an annual income of 60,000 yuan or above, and
constituting the upper 15 percent of the population in terms of
household income.
Spending is increasingly perceived as a pastime of the new
middle-class families. While new mids consumers are getting more
taste-driven and interest-oriented in their purchasing, they have
learned to appreciate personal style and trends.
As revealed in the research, 81 percent of such people said they
are willing to pay more for products of good design and style, 77
percent are willing to pay more for goods of unique creative idea
and 68 percent are willing to pay more for goods of latest
international trends.
"According to our survey conducted in five major mainland
cities, Hong Kong products enjoy a price premium of around 20
percent, and our products are regarded by urban consumers as
excellent in quality, safety and design, while price is very
affordable," said Lam.
When compared with products of other regions and countries, the
overall strengths of Hong Kong products lie in their trendiness,
creative ideas, suitability and good taste.
Hong Kong fashion style is considered by many new mids (over 70
percent of respondents) as trendy, international, simple, elegant,
individualistic and tasteful.
Some 85 percent of the interviewed new middle-class people
perceived Hong Kong fashion as one belonging to the middle and
upper-middle price range.
New-middle-class consumers have a favorable impression of Hong
Kong jewelry, as a symbol of true value and good craftsmanship, 76
percent of the new mids regard them as premium products targeting
the upper-middle to upper-end market.
Although Hong Kong watches are not as well known as other famous
watchmakers, mainland consumers consider Hong Kong watches to be
good in quality and suitable for their needs. Currently, 55 percent
of the new mids regard Hong Kong watches as priced in the
upper-middle range.
Hong Kong household electrical appliances are perceived as
having a high technology level and being value for money, 86
percent of the new mids interviewed considered products from Hong
Kong belong to the middle and upper-middle price range.
The perceived strengths of Hong Kong consumer electronics are
hi-tech, and to a lesser extent, suitability to consumer needs and
value for money. Hong Kong's consumer electronics are regarded as
middle and upper-middle priced products by 83 percent of the new
middle-class consumers.
Hong Kong toys are perceived to be safe and educational in
nature, characterized by their innovativeness, good design and
quality. In terms of price, 86 percent of the new mids regard Hong
Kong toys are middle and upper-middle range products.
In addition to promoting Hong Kong products at the Canton Fair
to traders, TDC will stage a mega show in Hangzhou this November to
promote the city's stylish and branded products to consumers.
(China Daily October 15, 2007)
