The 133rd Canton Fair, also known as the China Import and Export Fair, was held from April 15th to May 5th, 2023. The event was split into three phases, with the second phase from April 23rd to 27th being the focus of this article. The second phase of the fair showcased various products such as consumer goods, gifts, and home decorations. This year, the fair had some notable highlights that are worth discussing.
Main Highlights of the 133rd Canton Fair’s Second Phase
Highlight 1#:
One of the main highlights of the second phase of the Canton Fair was the increase in online purchasing agents. Although due to various reasons, major European and American retail buyers were unable to attend the event in person, they still sent Asian or domestic purchasing agents. It was noticeable that there were fewer European and American buyers present at the event. This was mainly due to several reasons.
Firstly, many European and American buyers were not aware of the relevant policies due to the sudden lifting of the pandemic restrictions in China.
Secondly, many buyers had planned their trips for the year in advance, with China opening up slightly later than expected, and thus they had to resort to inviting suppliers to attend meetings in Vietnam instead.
Thirdly, many clients encountered difficulties in obtaining visas, with embassies in various countries being understaffed and facing a backlog of applications from the past three years.
Fourthly, the inflation in various European and American countries has led to high inventory levels for retailers, which is also an important reason for the decreased purchasing intentions of some buyers.
Lastly, the density of flights between China and foreign countries has not yet fully recovered to pre-pandemic levels, resulting in higher airfare prices, especially for routes between China and the United States, which has discouraged many buyers from attending the Canton Fair.
Highlight 2#:
Another highlight of the second phase was the significant increase in purchasing agents from Asian and Belt and Road countries. According to statistics, most of these buyers were from Asia Pacific countries and regions such as Malaysia, India, South Korea, and Singapore. Established Asian companies such as Lotte from South Korea and Daiso from Japan also attended the event, and they have a significant influence in the Asia Pacific region.
Highlight 3#:
The third highlight was the increased focus on offline exhibitions by e-commerce platforms. For the first time, purchasing agents from Amazon Singapore’s large sales center, including the head of the Southeast Asian sales team, attended the event. Newcomer SHEIN, a rising e-commerce platform, has also invested $100 million in building a Brazilian supply chain. SHEIN’s Brazilian purchasing agents were present at the event, but unfortunately, many participating factories were not familiar with the platform.
Highlight 4#:
Lastly, traditional foreign trade enterprises have embraced various types of customers. Due to the development of industrial technology and flexible supply chains, small quantity orders have become feasible even for large companies. We believe that this is also due to the promotion and influence of online business on the entire industry chain.
Conclusion
Despite some challenges due to the ongoing COVID-19 pandemic, the second phase of the 133rd Canton Fair had some notable highlights that are worth discussing. The event continues to provide valuable opportunities for businesses to expand their networks and explore new markets.
