Financial news
Written by: Yue Yueting
2019-12-11 08:30
Last updated: 2019-12-11 08:30December is the peak season for traditional consumption. However, due to the impact of social events, the retail industry in Hong Kong has blown lightly, and the public's willingness to consume has dropped significantly. In order to cope with the quiet market, retailers are urging Valley sales. The old-fashioned "Chaochang" Mong Kok Centre Shopping Centre launched a "Christmas Thanksgiving Offer" this month. More than 100 merchants launched a "buy one get one free" offer. The merchants include watch stores, shoe stores, jewelry stores, women's clothing stores, Snack shop and so on.
Nearly one-third of the merchants in Mong Kok Centre Shopping Centre participated in the "Christmas Thanksgiving Offer" event. It is understood that
In October, the value of retail sales in Hong Kong plummeted by 24.3% year-on-year, the largest decline in history. During the cold winter of retail, merchants are also going to save their lives. Shops in Mong Kok Central Shopping Centre launched a "buy one get one free" offer in December. Based on the information provided by the merchants, the ownership of the mall is scattered. This event was initiated by a large owner, so all the merchants under the owner participated.
It is worth noting that there are up to 300 shops in the Mong Kok Centre Shopping Centre. Not all merchants have participated in this event. The participating shops will stick the designated merchant stickers prominently in the shop.
"Hong Kong 01" reporter contacted the owner for more details of the event, but the owner refused to accept the interview.
Watch shop clerk A Hui hopes that the "buy one get one free" event can increase the business volume of the store. Even if the owner may not launch a new promotion in the new year, the store will also launch a preferential customer attraction. (Photo by Wu Yueting)
Merchants: Events make business better
One of the participating merchants is the watch store's immediate watch industry. The store launched a Daniel Wellington series of watches at half price. The clerk A Hui explained that this brand of watches is more popular with young people, and because the surface has different sizes, the prices are different, even Couples may not want to buy two watches of the same model, so the shop decided to offer a half price discount.
A Hui said that in recent months, the continued social movements and the obstruction of traffic have caused the store's business to fall by more than half. "I have tried to open a single card all day, and I want to open a shop two days a week!" She revealed After participating in this event, the business has started to improve. Many customers went to the store to inquire about the relevant discounts, and hope to do more business during the Christmas season.
Ms. Tan, owner of Aiqi Jewelry Store, said that the social movement has greatly affected the business, and the owners have provided short-term rent reductions. I hope that the owners can continue to introduce relevant measures to cope with the difficulties with the merchants. (Photo by Wu Yueting)
Another participating merchant, Ms. Tan, owner of Aiqi Jewelry Store, said that in the past, there were more people on Saturday and Sunday in the mall. However, clashes have occurred in Mong Kok from time to time in recent months, and the flow of people has greatly decreased. She also has to close the shop early, and her business has fallen by at least 40%. Therefore, she decided to participate in the buy one get one free event, hoping that it would be effective in publicity and drive up the business volume. "The business has been bad in the past few months, so I want to do more business during Christmas."
Retail Association expects to cut more than 5,600 employees in the next 6 months
Hong Kong's retail industry revenue declines 17.5% in third quarter
Retail Management Association: Retail decline in December or bottoming out does not rule out continued decline next year
Retail Market Mong Kok Centre