Weak Demand, Slow Traffic at Macau Show
[2009-01-12]
The second annual Macau Jewellery & Watch Fair ended on a low point on Sunday as demand and buyer traffic failed to pick-up since the show opened on Thursday.
Reports from the fair signaled that the opening day was the strongest day of the show, although already weak compared to last year’s inaugural event. Traffic on Friday and Saturday diminished further and by Sunday "many exhibitors had given up and didn't bother to show up," said one Rapaport observer. "It seems there were more exhibitors than buyers," he added.
The weak trade was due to fewer buyers attending the show, particularly from mainland China, and to the lack of demand for big stones. Even trade between exhibitors, which had been a strong point at Macau 2008, was almost non-existent this year, the observer explained.
To explain the poor showing, some pointed to the unfortunate timing of the show given its close proximity to the Chinese New Year, which falls this year on January 26. Most Chinese buyers have already placed their orders for the New Year, so they didn't bother coming to Macau, one attendee explained. Others noted the Chinese government's new visa restrictions, which allow residents of mainland China only one visit to Macau every three months.
Reports from the fair signaled that the opening day was the strongest day of the show, although already weak compared to last year’s inaugural event. Traffic on Friday and Saturday diminished further and by Sunday "many exhibitors had given up and didn't bother to show up," said one Rapaport observer. "It seems there were more exhibitors than buyers," he added.
The weak trade was due to fewer buyers attending the show, particularly from mainland China, and to the lack of demand for big stones. Even trade between exhibitors, which had been a strong point at Macau 2008, was almost non-existent this year, the observer explained.
To explain the poor showing, some pointed to the unfortunate timing of the show given its close proximity to the Chinese New Year, which falls this year on January 26. Most Chinese buyers have already placed their orders for the New Year, so they didn't bother coming to Macau, one attendee explained. Others noted the Chinese government's new visa restrictions, which allow residents of mainland China only one visit to Macau every three months.
Source: www.0755zb.com
Keywords:Jewellery; Watch
Related Articles:
