市场情报 JNA July/August 2023 | 49 Diamond jewellery by Peter Lam Jewellery Ltd 必得利珠宝有限公司的钻石首饰 Tourism numbers likewise improved drastically, with 2.9 million people visiting the city in April 2023 compared to 4,692 last year. From January to April this year, tourist arrivals reached 7.3 million from 16,182 a year ago. According to Hong Kong jewellery manufacturers, market demand has endured during and after the pandemic, but a new business paradigm is emerging. Jewellery producers are having to innovate strategies and update collections more often as buyers increasingly seek product diversity, exceptional designs and competitive prices. Changing trends Jewellers continued to conceptualise and launch new designs even when businesses came to a sudden halt in 2019, revealed Jacky Lam, general manager of Peter Lam Jewellery Ltd. In this way, companies can still do business by presenting new collections to their customers. Keeping communication lines open remains a crucial business strategy especially with intermittent orders, according to Jacky. Before Covid, it was easier for suppliers to predict when orders would peak and to prepare accordingly. He explained, “Back then, we knew which months or seasons would be the busiest like Christmas or Chinese New Year, for instance. But economic uncertainties are disrupting buying activity in the market. As such, communication is key. We need to understand our clients’ plans so we can meet their demand. We also need to work harder and be more active in the market.” Peter Lam has since updated its high-end jewellery offerings to include larger diamonds as well as fancyshaped diamonds. It has also experimented with a wider range of coloured gemstones to create themed collections and more contemporary designs for the younger market. The company is likewise shining the spotlight on its men’s jewellery line, which is one of its best-sellers. Peter Lam’s major market is the US. It has become a must for jewellery manufacturers to offer a more diversified portfolio of products to meet the demands of more discerning buyers, according to Tom Wan, business manager at Wing Wo Hing Jewelry Group Ltd. Wing Wo Hing, which sells mainly fine and silver pearl jewellery, has clients from the US, Europe and Asia, including China, Vietnam, the Philippines and Thailand. “Buyers are looking for different kinds of jewellery. Coming out of the pandemic, we see demand for both fine and silver jewellery categories. Orders vary per customer depending on price points and the preferences of their own clients,” noted Wan. While the pandemic presented financial challenges, we managed to maintain stability by closely monitoring our inventory and adjusting our production and sourcing strategies to align with changing market demand. – Kavin To, general manager of Legrand Jewellery (Mfg) Co Ltd
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