Japan has been one of Hong Kong's favorite travel destinations in recent years, and the depreciation of the yen against the Hong Kong dollar is a boon for consumers.
The yen, which was hovering at a low level, continued its decline on Thursday (28th), and finally fell below six per 100 yen against the Hong Kong dollar, hitting a 20-year low of 5.991.
The depreciation of the yen coincides with the distribution of electronic consumer coupons, which frees up the purchasing power of Hong Kong people. However, under the cover of the epidemic, the two places have not yet resumed the switch. Preparing for a day trip.
The devaluation of the Japanese yen has led to different opinions. Some online stores have stated that the cost will be reduced by 10%, while some online stores have disclosed that suppliers will increase their prices due to inflation. Economists believe that the profits of 100 yen stores in Japan can be as high as 50%.
In any case, Hong Kong people eventually became the biggest winners. The price of shopping on Amazon Japan, including shipping, is still 20% cheaper than that of the local online store.
The Japanese yen has fallen to a new 20-year low against the Hong Kong dollar recently. Do you want to take advantage of the low?
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Traveling around Yuan Zhenning: It's a good time to eat expensive Japanese fruits
In recent years, with the outbreak of the new crown epidemic, citizens have gradually become accustomed to online shopping, and online stores or daigou websites have sprung up.
Affected by the customs closure in recent years, Zonghengyou expanded its online shopping business to increase its income, mainly selling Japanese fruits and seafood by air.
Yuan Zhenning, managing director, revealed that suppliers are willing to cut prices by about 15% because they are not traded in Japanese yen, but air freight has risen slightly by 5% in recent months.
Benefiting from the depreciation of the yen, Yuan launched discounts, including Japanese fruit, sake, whisky, etc.
He also took the sky-high price of mangoes "Sun の タ マ ゴ" (Child of the Sun) as an example, which has now been reduced to 3 pieces of more than 700 yuan, which is 10% to 20% cheaper than in the past.
He believes that now is a good time to try expensive Japanese food. "I don't want to try it now. I won't try it when the exchange rate rises to seven or eight? It's a luxury, you can try it if you haven't tried it."
Japanese sake glass suppliers predict price increases starting in July
Lai Yongnuo, the owner of the online store "Two In-laws Japan Department Store", which sells gifts, said that the depreciation of the yen will lead to inflation in Japan, the price of local imports will increase, and the prices of restaurants and daily necessities have gradually increased. "It's a good thing for Hong Kong people. , but it’s not good for the Japanese.” He also pointed out that recently, Japanese wine glass suppliers have warned him that they will increase their prices in July, but they have not notified the actual increase for the time being.
However, he revealed that some online stores have made large purchases before suppliers increase their prices, so they have conditions to reduce prices. It is suggested that the public should pay attention to coffee products.
At the same time, shipping and air freight rates have continued to rise, resulting in higher shipping costs for online stores.
He revealed that air freight has risen slightly by a few percentage points since the beginning of the year, and shipping fees have soared even more. If the online store's shipping volume is calculated by dozens of boxes, the shipping and air freight charges are similar.
Therefore, the prices of some goods that are not suitable for air transportation, such as drinks that must arrive in Hong Kong by air, will not fall but rise.
Retailers reluctant to cut prices by 100 yen in Japan to become winners
In addition to online stores where you can buy Japanese products, there are actually many Japanese supermarkets in Hong Kong, such as Donki, Aeon, YATA Department Store, etc. Even the two major supermarket chains also offer a variety of Japanese products. I believe Hong Kong people are concerned about the devaluation of the yen, whether it will make the supermarkets adjust price.
Li Zhaobo, an honorary teaching and research scholar at the Asia-Pacific Business Institute of the CUHK Business School, said that it is unlikely.
Li explained that the goods in supermarkets are often purchased some time ago, and the exchange rate at that time may not have fallen to a low level, and the current price cannot reflect the decline of the yen.
At the same time, just after the distribution of electronic consumer coupons, supermarkets will not rush to reduce prices, depending on the price outside the street, or choose to use the sales method of "buy more, reduce more".
On the contrary, the Japanese 100 yen store, which is priced at 12 yuan per item, may become a winner.
Taking the Japanese version of Caleb Potato Chips as an example, Li said that the exchange rate fell but the price remained unchanged, and the available profit rose to 50%.
Therefore, he believes that the 100 yen store has room for price reduction, and the goods can be reduced to 10 yuan.
However, the 100 yen store has only offered promotions such as "buy five get one free" so far, and he hopes that similar stores will take the lead in reducing prices to break the deadlock.
▼The opening day of Donki in Tseung Kwan O in 2020▼
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Buy Japanese camping tents on Amazon Japan
Although the chances of discounts in supermarkets are slim, citizens can still buy their favorites at the exchange rate difference through Japanese online shopping platforms.
In recent years, hiking and camping has become popular in Hong Kong. Snow Peak, a Japanese brand, is a popular choice among mountain lovers. Many camping supplies stores have been sold out for a long time.
For example, Snow Peak's three-person camping tent, SDE-002RH, sells for 33,340 yen on Amazon Japan, and the shipping cost is 3,937 yen. If every 100 yen is converted into 6 Hong Kong dollars, the total cost is only 2,237.8 Hong Kong dollars.
However, the prices of online stores in Hong Kong ranged from RMB 2,759 and RMB 2,850 respectively, a difference of nearly 20%.
In other words, you can save more than HK$500 by purchasing the same item on Amazon Japan.
However, it should be noted that not all goods can be shipped to Hong Kong.
Economists buy yen for long-term investment
As countries around the world relax entry measures, "returning to the countryside" may be just around the corner.
Yuan Zhenning estimates that Japan will switch this year, and is preparing for Japanese tour groups, calling on the public to take advantage of the low price for future travel.
He said that it is unusual for the yen to fall below 6, and there is no reason for the depreciation of the yen to continue.
Li Zhaobo also revealed that he is planning to travel to Japan. Recently, he has exchanged 10,000 Hong Kong dollars for Japanese yen, and the exchange rate for the last exchange was 6.4.
He suggested that citizens who are planning to go to Japan do what they can, and use the average method to exchange yen, just like a monthly stock payment for long-term investment, "I believe it will not be too far from the low level."
▼The epidemic lasted for more than two years, and the airport was full of passenger planes▼
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