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Effective Expositions
Making the most out of trade fairs
By: Diamond World News Service
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Jul 5 2014 5:20PM
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Reference: 9294  

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In the times of global economic uncertainty, is it feasible to invest in these expensive shows, was our next question. On this, Rebecca So from HKTDC said, “As there are different trade shows around the globe, it’s important for sellers to choose the best-fit ones according to their business objective and strategies to obtain the most enhanced trading efficiency.The diversity and internationality of buyers’ portfolio arealso key factors to drive a successful trade show, connecting the exhibitors to the market that they would like to explore.” While for Sunny Chan of UBM Asia, participation fee is one of the most important factor as he said, “Participation fee is one of the factors that influence the exhibitors’ decisions. Most of the exhibitors consider not only the booth price, but the effectiveness in terms of selling product, promoting brands, meeting new business partners and collecting market information, among others.”

Also, some of the buyers like Ishu Datwani felt that the increasing number of trade shows is reducing the margins of the sellers. Giving a cautionary message he said, “It is true that the number of shows in the past couple of years which has increased has led to an increase in cost and reduction in margins for the sellers. Hence, one has to been very careful when deciding on which show to participate in.”

Most of the exhibitors echoed the fact that most orders are placed during the show; however many times the confirmation of a particular order only comes in after the show.While some said that the orders take place sometimes during the show or after the show. It all depends upon how the exhibitor has made an impact through innovative placements, exquisite designs and intelligent marketing. Rebecca So from HKTDC clarified it further by saying, “By the clear segmentation of products and targeted buying missions, many orders had been placed during the show or potential partnerships were formed after the show.To our best knowledge, the magnitude of orders may be up to millions of U.S. dollars as told by Essex Global, a leading fine jewellery company from the U.S.”

Samir Sagar had different sentiments to share when he said, “Usually, the retail orders aren’t placed at the show. With certain products such as bangle designs, the customer preferences are known making it easier for the team to confirm order there itself. However, with other main jewellery pieces, only designs are selected and the karigars/manufacturers are asked to visit the merchandise team on a later date with the selected items to finalize orders.”

This all due to the fact that the trade show may or may not have the right kind of visitors. The visitors differ from show to show. As Ishu Datwani pointed out that most of the shows have the right kind of visitors. While Samir Sagar had a different take on this as he added, “Much depends on the promotional strategies adopted to popularise the tradeshow. For example, IIJS is well known in the industry and thus, sees at least 70 per cent of apt footfalls. Practically, everyone who comes in as visitors has a direct/ indirect relationship within the industry.” While Sunny Chan from UBM Asia said different kind of visitors are a boost to the business as he said, “Among the visitors, they are representing different business nature, including retailer, wholesaler, manufacturer, importer, exporter jewellery designer, private collector, chain store and more. The strong participation of jewellers from around the world brings to the fair/exhibitors unmatched business opportunities.Further, exhibitors are also conducting business between themselves at the show as the exhibitors who are the manufacturers for finished jewellery will buy loose gems from the exhibitors selling diamonds, pearls and gemstones in order to design and manufacture the fine jewellery. Also, both loose and finished jewellery exhibitors will buy equipment, tools and packaging products at the show as well.”

Though the trade shows are getting expensive, these shows are here to say. Samir Sagar on importance of trade shows for the gems and jewellery industry said, “In 2013, the domestic Indian jewellery industry was pegged close to Rs. 2,51,000 crore, generating large scale employment and contributing nearly 7 per cent to the GDP of the Indian economy. Being one of the world’s largest market and highest consumption, the Indian gem and jewellery industry is looking towards a bright future.With such a large market, connecting buyers and sellers becomes vital for the growth of the industry. The presence of trade fairs within the industry works towards this end; to facilitate an increased interaction among various touch points.”

“Expositions provide a unique networking platform to both Indian and foreign participants. They help in promotion, marketing and publicity efforts of participating companies. Exhibitions lead to joint ventures, tie-ups and they also help bring in investment in the Country,” said an official from Federation of Indian Chambers of Commerce and Industry (FICCI).

As dependable modes for exchange of information, exhibitions are being globally recognised as the pertinent medium for doing business today. The current slowdown in the gem and jewellery market is the idyllic time for the industry to showcase its presence on exhibition floor, as the industry is very much in a position to reinforce its tenacity, strength and collaborative nature.In fact, in tough market conditions, it becomes all the more imperative for all businesses to show greater visibility, strong fundamentals and continuation of businesses. The platform is ideal for exhibitors to nurture the trust and confidence across the supply chain, is the general consensus amongst all the players.

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