24 December 2018
Good branding and design are likely to help sustain jewellery sales in 2019 amid global economic uncertainties, the Hong Kong Trade Development Council (HKTDC) said in its latest report.
In its Export Outlook 2019, the council further said “growing conservatism” among consumers may weaken demand for high-end items but added that “the rising popularity of accessible items that feature good branding, design, quality and craftsmanship may help support jewellery sales.”
Consumer appetite for gold in major markets such as China and India meanwhile is likely to drive global demand for gold jewellery.
Other jewellery products, including platinum and diamond-set pieces, may also remain popular, HKTDC said.
In its report, the council said the global economy remains susceptible to increasing uncertainties and slower growth in 2019. Some emerging economies however are expected to enjoy a near-term improvement due to a recovery in global demand and improved commodity prices.
“Given the continuing momentum of global economic growth, and the recent progress in Sino-US trade negotiations, we are cautiously optimistic about the prospects for Hong Kong’s export performance, expecting a 5 percent growth in exports in 2019,” the council said. “This forecast is supported by our latest HKTDC Export Index survey, in which 51 percent of the exporters surveyed said they expected their sales to increase or remain unchanged over the coming year.”