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Author: david365
Date Created: Nov 28, 2008 - 1:43:21 AM
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The first Weihai International Fishing & Outdoor Exhibition was held from Nov 9th to Nov 11th. Boasting of over 600 fishing tackle making factories, 400 of which are of considerable size, Weihai has the largest output of fishing rods and lures among all cities in China. At Weihai International Exhibition Center, buyers from the US, Germany, Russia, Austria, etc met with more than 160 fishing and outdoor gear suppliers, 80 local fishing tackle makers and the rest mainly from Beijing, Tianjin, Dalian and Ningbo.
Fishing is a popular entertainment in countries like Japan, Australia as well as in some countries in Europe and Southeast Asia. Most Chinese fishery enterprises rely on the export of fishery products. For the fishing industry, the time from November to May of the next year is the usual exporting season. However, now the chill of the economic crisis is in the air. Chinese small and medium sized fishing tackle makers have already felt the impact. Many big company owners said that they would feel the shock soon, because the economic crisis will reduce people's purchasing power which will lead them to spent more money on daily necessities and less on entertainment. Under the circumstance, this exhibition is of great significance. It does not only bring potential clients in the house for Chinese fishing gear suppliers, but also boosts the communication between home sellers and overseas buyers.
Faced with a shrinking foreign market, many industries plan to shift their attentions to domestic market, which unfortunately is not so appropriate for the fishery industry. In the city of Weihai, 90% fishery enterprises rely on exporting to foreign countries and only 10% supply for the domestic market, for there are way less people entertain themselves by fishing in China than in western countries. Moreover, because the fishing culture in China differs itself from that in most foreign countries, products popular among foreign clients may turn out to be rarely sought for. Therefore, fishing tackle dealers will have to develop new products to cater Chinese purchasers.
Actually, new products and technologies are the highlights on this exhibition. Through this exhibition, suppliers can find out exactly what buyers are looking for, which kind of products are in great need, which are not, what advanced technologies are in need, etc. Information is absolutely firsthand.
Keeping updated with the latest technologies might help a business to survive. However, its sustainable development counts on brand building and extension. Some domestic trading companies have their own brands, but companies that export fishing gear never have brands of their own. Products' quality is not the problem. Lots of fishing gear sold in America and Japan are made in Weihai. Weihai fishery gear manufacturers have been doing OEM for foreign markets, and this has left them limited profit and capital accumulation which is the stumbling block on their road to promoting their products and building their brands. "No matter how tough the task of building our own brand will be, we've got to accomplish it, because if our brand becomes well-known internationally our profit might double." said Yu Zhufu, sales manager of Weihai Xinxing Fishing Tackle Co., Ltd.
According to the Iresearch, B2B business has a link relative ratio of only 0.7%. This round of economic crisis put foreign consumers' belief in economics under attack. Their consumer demands decreased sharply, and so did their orders of China's products. Thus, B2B runners found it more difficult than before to get new paid customers.
In such a decaying atmosphere, Alibaba still won a nearly 5% increase of the market compared with the 2nd quarter of the year, owing to the offline exhibitions Alibaba held for their clients. Offline exhibitions offer buyers and sellers the opportunity to deal directly. Out there on the exhibitions, suppliers and purchasers would also form an updated understanding of the industry status quo and would find a way to overcome the present toughness for mutual benefits.
Iresearch estimated that B2B will have an £¤1.6 billion revenue in the final quarter of the year, largely due to the holiday season of Christmas. Additionally, opening of the 3 links between Taiwan and Chinese mainland would expand trades between these 2 areas, which is a freshly baked cake for B2B.
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