January in Hong Kong is where the rubber hits the road when it comes to toy buying. Those buyers attending this year's Hong Kong Toys and Games Fair on the Hong Kong island or working the toy district in Kowloon should enjoy the experience. It looks like this year, unlike the last few, that retailers should find it to be a buyer's market.
Here is why I say that: Global Sources , a research and sourcing service for trading partners, sent me a very interesting survey they conducted on how Chinese exporters see the rest of 2012. The title of the article accompanying the survey says a great deal: “Survey: China suppliers cautiously optimistic about export growth." After reviewing it, my sense is that it should be a good year for buyers.
It should be noted that the survey was not just for toys but for all consumer products. What struck me as most significant was that exporters expressed concerns about a combination of softer exports to the US and Europe and increasing costs. As a result, there is price competition and that means that buyers visiting Hong Kong this year may find that suppliers are more willing to negotiate.
This situation may be short lived, however, as according to the survey; exporters are expecting consolidation which means fewer competitors. So, bottom line, it could be a buyer’s market in Hong Kong this year; enjoy it while you can.