New Buyers Doubled at Global Source's Private Sourcing Events in First Half
August 8, 2011
New buyers at Global Sources’ Private Sourcing Events more than doubled for the first half of this year, according to company officials. Among new buyers were AEON, E.Leclerc, Forever 21, Fujitsu, J.C. Penney and Lidl.
"As product costs increase, we are looking for ways to reduce expenses in other areas. Private Sourcing Events save us time and money by short-listing quality suppliers who meet our strict requirements before any meetings take place,” said Jacqueline Au, buying manager for AEON Hong Kong.
She added, “This has freed our sourcing teams to spend less time searching for new suppliers and products and more time focusing on product quality."
In the first half of this year, 200 sourcing teams from more than 80 international buying organizations met 1,042 pre-screened suppliers to evaluate their capabilities to accept future orders. Meetings were held in key manufacturing hubs across China, as well as at Global Sources' China Sourcing Fairs.
"In today's business environment, buyers are looking for ways to streamline their sourcing operations and reduce costs," said Global Sources' Chairman and CEO Merle A. Hinrichs. "Private Sourcing Events help them do that by connecting buyers with verified suppliers who have been pre-selected based on their own requirements. Accordingly, a growing number of buyers see this as an efficient and cost-effective channel for their Greater China sourcing."
Categories at the events included baby and children's products, mobile phone accessories, apparel and fabrics, gifts and packaging, sports equipment, mobile tablet devices, digital portable devices, building materials, vehicle parts, green lighting, furniture, power supplies and batteries.
"As emerging markets continue to show strong growth, we are seeing an increase in the number of buyers from Russia, Latin America and India,” Hinrichs added. “Our one-to-one meeting format provides the ideal environment for buyers from these regions to outline their specific market needs and confirm suppliers' capabilities."
Participating buyers from emerging markets included CENCOSUD, Coppel, Falabella, Future Group, Grupo Elektra, Intelbras, Onida and Videocon.
Suppliers also benefit from participating in Private Sourcing Events, according to Global Sources’ officials.
"For suppliers looking to move up the value chain, Private Sourcing Events introduce them to market-leading buying partners who can help them increase sales and create more innovative products,” Hinrichs said. “It is also an ideal way for them to expand to new markets.”
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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