Tag: sourcing

HONG KONG, Jun 28, 2022 - (ACN Newswire via SEAPRWire.com) - International trade fairs and sourcing modes have seen dramatic changes in the wake of the COVID-19 pandemic, with the organisers of many physical exhibitions and seminars taking a new digitised or hybrid path. To assist enterprises in adapting to the new normal, and help them stay closely connected to international buyers, the Hong Kong Trade Development Council (HKTDC) is launching the brand-new hybrid exhibition model EXHIBITION+ to strengthen its exhibition platform. Meanwhile, the HKTDC International Sourcing Show runs from 5 to 8 July at the Hong Kong Convention and Exhibition Centre (HKCEC). Exhibitors and buyers at the event will be among the first to enjoy the smart business-matching platform, Click2Match, to actively assist them in seizing business opportunities.HKTDC Deputy Executive Director Sophia Chong introduced the newly launched exhibition model EXHIBITION+ at a press briefing today, while Zuri Jewelry Company Ltd Director Victor Yiu (L) and Chit Tat Clock & Watch Co Ltd General Manager Philip Lau (R) shared their successful experiences using the Click2Match platform.The physical HKTDC International Sourcing Show will run at the Hong Kong Convention and Exhibition Centre from 5 to 8 July. Exhibitors and buyers can use the smart business-matching platform, Click2Match, from 5 to 15 July to connect with global buyers. The photo shows the 2021 HKTDC Lifestyle Sourcing Show.HKTDC Deputy Executive Director Sophia Chong said: "The pandemic has had a tremendous impact on Hong Kong's economy and particularly on small and medium-sized enterprises (SMEs). Amid the ongoing pandemic and geopolitical tensions, many enterprises have sought support from policies and aid packages to help them ride out the storm. From March 2020, the HKTDC adjusted quickly to the new reality, moving its various physical fairs, large-scale seminars and business-matching meetings to online platforms, striving to continue connecting local businesses with international buyers and offering various kinds of support. Now, the Council is launching EXHIBITION+ to help enterprises get better familiarised with digital platforms and capture online-to-offline international opportunities around the clock."More than 90% of buyers have used online sourcing platformsAccording to a recent buyer survey conducted by the HKTDC, which interviewed 600 international buyers from Association of Southeast Asian Nations (ASEAN) countries, Australia, Europe, Mainland China and the United States, most respondents (93%) had used online sourcing platforms, and over 85% had participated in virtual fairs to meet their sourcing needs. The majority of respondents said they would be willing to conduct sourcing through physical fairs (63%) or hybrid fairs (59%) once travel restrictions are lifted. The survey findings revealed that in the future, physical and online-to-offline integrated fairs could complement each other. (Key survey findings are shown in the appendix below.)EXHIBITION+ reinvents trade fairs to serve businesses anytime, anywhereEXHIBITION+ comprises four key exhibition elements, including HKTDC-organised physical fairs, the smart business-matching platform Click2Match, online-to-offline seminars under the Intelligence Hub, and the hktdc.com Sourcing platform, to provide round-the-clock services that boost the flexibility and effectiveness of business promotion for SMEs and offer benefits such as extended fair periods, expanded platforms and enhanced opportunities. EXHIBITION+ extends face-to-face interactions from physical exhibitions to an online smart business-matching platform to help enterprises connect with business partners proactively. As always, the HKTDC's 50 global offices will actively recruit international buyers, while its business-matching specialists will match suitable exhibitors according to buyers' sourcing demands, and arrange online and offline meetings to facilitate business cooperation.Experience a unique business journeyWith EXHIBITION+, exhibitors can start displaying their products to buyers on the fair website one month before the physical fair, while buyers can browse for products and shortlist exhibitors. One week before the physical fair, both buyers and exhibitors can actively search for business targets through the Click2Match platform, check out AI-recommended leads and send meeting requests. During the physical fair, they can meet at the fairground or online via Click2Match, while further online meetings can be scheduled and conducted up to one week after the fair. Exhibitors can still receive sourcing enquiries from buyers up to one month after the fair.Click2Match connects suppliers with global buyers in a clickSmart business-matching platform Click2Match is built on the HKTDC's extensive database to greatly enhance the accuracy of smart matching through AI and big data analytics. Compared to physical exhibitions, where exhibitors typically need to wait for buyers to visit their booths, Click2Match enables them to actively search for suitable buyers and arrange meetings with global buyers. The platform features meeting scheduling, video conferencing, instant messaging, message translation (up to 14 languages), and file-sharing functions to facilitate easy communication between buyers and suppliers.Fair attendees need just one account to seamlessly connect to the various HKTDC online platforms, allowing them to navigate between fair websites, Click2Match, hktdc.com Sourcing and the HKTDC Marketplace App anytime and anywhere. In addition, a series of online and offline seminars and conferences will be hosted during exhibition periods, helping attendees tap into the latest market trends by attending activities in person or watching via livestreaming or playback.Some exhibitors were given prior access to use the Click2Match platform in March. One of the exhibitors, Zuri Jewelry Company Ltd Director Victor Yiu, said the platform is very user-friendly. "We can even check buyers' information before the fair and understand their sourcing demands, allowing us to better prepare for meetings and select the right products for buyers," Mr Yiu said. Another exhibitor, Chit Tat Clock & Watch Co Ltd General Manager Philip Lau, said he is using Click2Match to actively search for overseas buyers. "We will keep track of AI-recommended leads, look at their sourcing demands and schedule meetings in advance, hoping to increase the chance of orders being placed."hktdc.com Sourcing helps explore blue ocean opportunitiesAs an extension of the physical fairs, hktdc.com Sourcing provides a trusted year-round online promotional platform. In addition to connecting with buyers at physical fairs, exhibitors can also seek out potential buyers in unexplored blue ocean markets, such as those specialising in online sourcing and overseas buyers that are unable to visit fairs. The platform shows exhibitors' profiles, along with a comprehensive overview of their products and services, increasing their exposure to buyers. The HKTDC recently added a "Request for Quotation" (RFQ) service to the platform, collecting sourcing requests from quality and reliable buyers and helping suppliers to seize every opportunity.Comprehensive support to help SMEs' transformationTo comprehensively facilitate SMEs to upgrade and transform their business, and to help them maintain their competitiveness, the HKTDC offers a series of platforms and services, including the Digital Academy and E-Tailing Academy, providing professional training related to e-commerce and digital business. The Council also collaborates with major technological enterprises to provide cost-effective e-commerce, digital marketing and enterprise resources planning for SMEs.T-box helps SMEs create business opportunitiesTransformation Sandbox (T-box) is a three-month programme initiated by the HKTDC to promote SMEs' business upgrading and transformation, catering to their needs in the areas of branding, e-commerce, manufacturing and supply chain solutions and exploring new markets. The programme provides advisory services, workshops and government-funding information, helping enterprises to navigate trends, enhance techniques and expand their business network. T-box has attracted more than 2,000 SMEs to join since its launch. The HKTDC will step up its efforts to assist Hong Kong's SMEs in further developing overseas markets through a series of activities. These include liaising with Hong Kong business associations around the world and providing training, group consultations and exchanges with trade committees from foreign chambers of commerce or consulates to join HKTDC's overseas events, helping to build commercial connections and arrange business matching.The HKTDC also strives to support SMEs in exploring business opportunities in other mature or new markets, including continuous support for Hong Kong companies in developing business in the ASEAN bloc and reinforcing the HKTDC's flagship overseas promotional events. For example, the "Think Business, Think Hong Kong" event will be enhanced with online-to-offline promotional platforms, offering a continuous business matching service along with an SME support scheme and various training activities, helping Hong Kong companies to connect with global enterprises and seize business opportunities in a more effective way.Physical International Sourcing Show runs in parallel with online Click2MatchThe upcoming HKTDC International Sourcing Show brings together seven trade fairs, including the HKTDC Hong Kong Electronic Fair (Spring Edition), HKTDC Hong Kong International Lighting Fair (Spring Edition), HKTDC Hong Kong Gifts & Premium Fair, Hong Kong Houseware Fair, HKTDC Hong Kong Fashion Week, HKTDC Hong Kong International Home Textiles & Furnishing Fair, and the Hong Kong International Printing & Packaging Fair, attracting over 1,700 exhibitors from 12 countries and regions with more than 83,000 products. The physical edition will be held from 5 to 8 July in the format of display showcases. Exhibitors and buyers who cannot join due to international travel restrictions can stay connected through Click2Match, the smart business-matching platform of EXHIBITION+, from 5 to 15 July.Four themed categories display a variety of productsThemed "Smarter Sourcing - Better Living", the International Sourcing Show will highlight a broad range of quality lifestyle products under four main categories, namely Healthy Living, Smart Living, Stylish Living and Sustainable Living. Highlighted products include the TiO2 table lamp, which features 24/7 antibacterial, antivirus, and air purification functions; smart cycling glasses that combine micro-lens, micro-display and thin-film encapsulation Internet of Things (IoT) technologies; and a wireless "lapstation" bag combining wireless charging and workstation, with heat ventilation and water-resistant design.Seminars share marketing strategies and innovative technology applicationsA host of seminars will be held during the show covering hot topics such as digital and social media marketing strategies, testing and qualification services for textiles and shoe production supply chains, the aesthetics of scientific design research, IoT innovation beyond the home, and an introduction to the government's Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund). There will also be networking sessions, assisting enterprises to stay connected and expand business opportunities.Main survey findings from "B2B Online Sourcing: A Buyer Behaviour Study Towards Recovery"Buyers who used online sourcing platforms in the past 12 months- Yes 93%- No 7%Buyers who joined virtual fairs in the past 12 months- Yes 85.5%- No 14.5%Buyers' sourcing preferences in post-COVID-19 era- Physical fairs 63%- Hybrid fairs 59%- Virtual fairs 37%- Online sourcing platforms 21%2022 International Sourcing Show DetailsDate and time (physical fair): 5-7 July (Tue to Thu) 10am-6pm, 8 July (Fri) 10am-5pmOpening period for Click2Match platform: 5-15 JulyVenue (physical fair): Hall 1C, Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wan Chai, Hong KongExhibition covered: - Hong Kong Electronics Fair (Spring Edition)- Hong Kong International Lighting Fair (Spring Edition)- Hong Kong Gifts & Premium Fair- Hong Kong Houseware Fair- Hong Kong Fashion Week- Hong Kong International Home Textiles and Furnishings Fair- Hong Kong International Printing & Packaging Fair (co-organised with CIEC Exhibition Company [HK) Limited)International Sourcing Show website: https://isshow.hktdc.com/Related website- hktdc.com Sourcing: https://sourcing.hktdc.com/- HKTDC Media Room: http://mediaroom.hktdc.com/- Photo download: https://bit.ly/3HYyQUNAbout HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiriesPlease contact the HKTDC's Communications & Public Affairs Department:Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.orgAgnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)