Hong Kong consumers' enthusiasm returns

 

Hong Kong's Computer and Telecommunication Festival began on August 21 at Wan Chai Conventional and Exhibition Center. Some of the participants in this event will sell their electronic products in fairly low prices.

Hong Kong's Wen Wei Po reported that on August 23, the Computer and Telecommunication Festival has entered its third day of exhibition. It was Sunday so that the event attracted record-breaking 170,000 people/times to visit Wan Chai Convention and Exhibition Center in north of Hong Kong Island. It has been a 42 percent increase of customers compared to last year's events. One person, who had bought electronic products that worth about 180,000 Hong Kong Dollars, was the biggest single buyer.

Electronic product industry predicted that the consumers' heat would last until the end of the exhibition, on August 24. It would also be the last grand shopping event held this summer holiday in Hong Kong. Looking back the four exhibitions: Book Fair, Food Expo, Cartoon Festival and Computer Festival, which were all according to the new business principles of "low prices, innovative and gimmicks" cured the prolonged sluggish Hong Kong consumer market, attracted about 2.5 million customers to attend. Hong Kong Retail Management Association said, due to the world financial tsunami, which began last fall, shop owners had to use the slogan "if people do not buy we will sell below cost" to stimulated purchasing desires among locals.

In the Computer Festival, the small notebook computers have been the favorite. The prices were down 10 to 15 percent to last year and the sales amount went up sharply 30 percent. One buyer bought 30 computers once and paid 180,000 Dollars, and many companies as big purchasers were still going strong.

Customers would like budget printers rather than the expensive one for above 600 each. Printers marked 200 to 300 Dollars were most popular. Vendors had to give supermarket-shopping coupons to attracted customers.

The gimmicks used during the summer holiday events included 20 to 30 percent discounts for books, some books sold just 8 Dollars; and one Dollar for a hundred balls of local special snack products.

Hong Kong Retail Management Association thought that there would be two-pole effect for these exhibitions. It would be having good results easily if exhibition participants to promote new stuffs or new brands, but it would affect the business. For example, one or two weeks after a computer fair ended, the sales of PCs would drop drastically. Because businesses took part in the exhibitions cut prices to clear their storage and customers would buy them in advance of people's purchasing plans.


(This news article is a translation from Chinese texts for travel reference. It does not represent the views of AbsoluteChinaTours)


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