Jewelry Buyers to Avoid 'Flashy Brands' in 2016, Says Hong Kong Report

Finance and Trade
23/12/2015 08:41

Next year is "unlikely to be an overly painful year for Hong Kong exporters," says the Hong Trade Kong Development Council in a forecast regarding business in 2016. There should be "a more stable - albeit still unspectacular - external trade environment pushing against unabated headwinds. With regard to jewelry, consumer appetite will again be impaired by the shift away from lavish consumption. Most shoppers, thanks to their caution, will likely stick to less pricey articles marked out by good quality and craftsmanship, rather than flashy brands. While likely to secure more orders, Hong Kong exporters will have to struggle with the fluctuating costs of precious stones and metals, especially in the case of bullion, given the diverse monetary policies of the major central banks worldwide. These vagaries in raw material prices will be a major element of uncertainty, and could expose the jewelry sector to particular risks and challenges."