Exhibitors cut prices at SITEX fair to lure customers amid downturn
By Satish Cheney, Channel NewsAsia Posted: 27 November 2008 1831 hrs
SINGAPORE: Singapore's SITEX exhibition, one of Southeast Asia's largest consumer electronics fair is well-known for its cheap bargains and massive crowds. But the exhibition, now into its 20th year, is already feeling the effects of slowing global consumer demand.
The 200 exhibitors are gearing up for a marketing war as they fight to attract some of the 800,000 customers expected to visit the fair by Sunday.
Last year, revenue from total sales at the SITEX exhibition was about S$40 million. But this year, organisers said they will be happy if they come close to that amount.
Exhibitors are slashing their already discounted prices by as much as 12 per cent.
Anantha Sai, general manager, Suzuki Technology, said: "Exhibitors on the whole have priced their products less than last year even when compared with the PC Show, which was held in September. The prices for SITEX are really attractive and keeping in with the current economic situation worldwide."
Oliver Novilla, manager, Axioo, said: "Our prices dropped by 10 per cent. Most of the brands now are dropping their prices. It's a big challenge for everybody now."
To meet the challenge, exhibitors like Suzuki are giving away more freebies and offering better deals if customers trade in their laptops.
The organiser of SITEX expects retailers to take advantage of such exhibitions as they face even tougher times next year.
Edwin Low, CEO, Singex Venues, said: "At the same time, exhibitors will be more aggressive. They will not just depend on the normal ways of retailing the channels. So what they will do is see this as a new channel to do the sales."
For now, exhibitors are hoping for better sales from the traditional surge in shoppers over the weekend.
[Picture from VR-Zone]
- CNA/vm
- wong chee tat :)
By Satish Cheney, Channel NewsAsia Posted: 27 November 2008 1831 hrs
SINGAPORE: Singapore's SITEX exhibition, one of Southeast Asia's largest consumer electronics fair is well-known for its cheap bargains and massive crowds. But the exhibition, now into its 20th year, is already feeling the effects of slowing global consumer demand.
The 200 exhibitors are gearing up for a marketing war as they fight to attract some of the 800,000 customers expected to visit the fair by Sunday.
Last year, revenue from total sales at the SITEX exhibition was about S$40 million. But this year, organisers said they will be happy if they come close to that amount.
Exhibitors are slashing their already discounted prices by as much as 12 per cent.
Anantha Sai, general manager, Suzuki Technology, said: "Exhibitors on the whole have priced their products less than last year even when compared with the PC Show, which was held in September. The prices for SITEX are really attractive and keeping in with the current economic situation worldwide."
Oliver Novilla, manager, Axioo, said: "Our prices dropped by 10 per cent. Most of the brands now are dropping their prices. It's a big challenge for everybody now."
To meet the challenge, exhibitors like Suzuki are giving away more freebies and offering better deals if customers trade in their laptops.
The organiser of SITEX expects retailers to take advantage of such exhibitions as they face even tougher times next year.
Edwin Low, CEO, Singex Venues, said: "At the same time, exhibitors will be more aggressive. They will not just depend on the normal ways of retailing the channels. So what they will do is see this as a new channel to do the sales."
For now, exhibitors are hoping for better sales from the traditional surge in shoppers over the weekend.
[Picture from VR-Zone]
- CNA/vm
- wong chee tat :)
