Survey compiled during HKTDC Housewares Fair shows industry players cautiously optimistic about market prospects.
To gauge the industry’s views on market prospects, product trends and the current hot issues, the HKTDC commissioned an independent on-site survey during the recently concluded Houseware Fair, during which a sample of 535 buyers and exhibitors were interviewed. Despite the current economic uncertainty felt around the globe, 53% of respondents expected the ongoing Sino-US trade friction to have no impact on the sector’s export performance over the next six months, while 60% believed Brexit will have no impact over the same period. The survey also found industry players to be cautiously optimistic about market prospects, with 37% of respondents anticipating overall sales to grow and 51% expecting sales to remain steady in 2019.
Respondents were also asked for their views on the growth prospects for the industry’s major sales markets. The survey revealed that Japan (67%), Taiwan (66%) and Hong Kong (65%) are the three most promising traditional markets, while Mainland China (70%) and ASEAN countries (67%) are the two emerging markets with the strongest growth prospects.
Asked about different product categories, respondents said that eco-friendly products (16%), kitchenware and gadgets (15%) and furniture (10%) are the product categories with the highest growth potential. Simple designs (43%), trendy designs (41%) and multifunction products (30%) were viewed as the most outstanding product styles this year.
