Written by: Yue Yueting
2019-12-18 17:30Last updated: 2019-12-18 17:30
December is a golden date for the bar industry. Recently, MTR's pick-up time has returned to normal, and the social atmosphere has improved. Many bars have launched discounted customers. More than 20 restaurants in Lan Kwai Fong have launched the "Spread The LOVE" event, which offers dining and holiday-limited menu discounts as low as 40% off. Chen Jinhui, the executive director of Languifang's concept of dining and entertainment, said that merchants have seen a stable consumer sentiment, and hope to promote public consumption through discounts. They expect the overall business volume to be flat in December.
He also predicted that the business volume of some Lan Kwai Fong merchants recorded a double-digit decline this year, and some merchants saw a smaller decline in business. He hoped that the business would improve next year.
Recently, the subway's closing time is normal. Due to the convenient transportation, the flow of people in Lan Kwai Fong has picked up. Chen Jinhui pointed out that the business of bars and restaurants in Lan Kwai Fong has started to rise, and some restaurants have launched discounts such as: one main dish, one free one, and some restaurants have launched Happy Hour alcohol discounts.
Regarding the bar industry's discounts of up to 10% off, he believes that these are only short-term concessionary measures, mainly to encourage the public to spend; but the key to business recovery is whether the public's consumption intentions have improved, and large discounts cannot be launched in the long term Instead, guests will focus more on the quality of food, drinks and services.
Chen Jinhui, the executive director of Languifang's concept of food and entertainment, pointed out that the early collection of subway cars in September had a significant impact on merchants. The restaurant business began to drop to double-digits or higher. The business was severely affected from September to November, but No large-scale closing wave. (Profile picture)
No large-scale closing tide
Visitors to Hong Kong have fallen year-on-year for several consecutive months. In October and November, they fell by 43.7% and 56% respectively. As a tourist attraction, Lan Kwai Fong has historically been driven by tourists. Chen Jinhui admits that 20% or more of the guests at Lan Kwai Fong are tourists. The drop in the number of visitors to Hong Kong has a certain impact on business. However, only a few bars have closed, and there is no large-scale closure.
January-February is the off-season for the bar industry. He suggested that the government could consider introducing consumer spending, or follow the foreign consumption tax reduction measures, and introduce similar reward cash rebates, but only for local consumption. It will increase the overall consumer willingness through circular consumption.
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