WITH recent signs that the economy is picking up, fair organisers and exhibitors are optimistic about sales at their events starting this weekend.
The organiser of the seventh JewelFest, which opens today and runs until Oct 18, expects to see sales increase from last year’s $10 million to $12 million this year.
Some 36 exhibitors will showcase $120 million worth of gems at Ngee Ann City Civic Plaza, up from 33 exhibitors and $100 million worth of gems last year.
A four-day car exhibition, the inaugural Asia AutoSalon 2009, opened yesterday at Singapore Expo. About 50,000 visitors are expected at the event, with sales of at least $1 million.
It features more than 100 models from more than 50 exhibitors.
Both organisers cited the improved economy as the reason for their bullish outlook.
Mr Joseph Hong, the chairman of this year’s JewelFest, said: “We will do well because we did well last year, when the show was held right smack in the middle of the crisis.
“Also, many things have improved since. Look at the stockand property-market rally. The recession is over. We can look forward to better times.”
Mr Koh Aik Leong, managing director of MPT Motor Trading, which is organising Asia AutoSalon, said: “Expectations are high because we feel that the economy is slowly picking up."
Their expectations may well come true, if most consumers feel the same way as those interviewed by my paper.
A visitor to the car show, hockey coach Farleigh Clarke, 58, said: “I’ve been planning to get decorative car accessories like sideview mirrors for eight months. Now that the economy is picking up, it is a good time to put my plans into action.”
Jewellery lover and brand executive Rachel Chan, 23, was not bothered by the state of the economy.
She said: “I’m going for gold pieces that have long-term investment value anyway...classic pieces that will last me a lifetime.”
Nonetheless, to encourage consumers to spend at the shows, some JewelFest exhibitors have chosen to display less pricey wares.
Pieces in Poh Heng Jewellery’s collection this year start from a modest $4,600, compared to last year’s, which started at $22,000.
Its director, Ms Chng Hwee Siang, said this was “in response to the economy”.
To attract the crowds, Asia Autosalon has also organised daily performances of drifting – a motor sport that involves drivers forcing their cars into sideway slides at high speeds, through bends in a course – at lower prices.
Mr Koh said: “The usual ticket price for watching performance- car drivers is at least $60 to $70, but, here, we charge $15 for adults and $5 for children.”
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