Retail

Hong Kong e-commerce set to reclaim growth: study
30 Sep 20
Businesses will be prioritizing shopping and payment experience improvements.
Retail sales shrink 23.1% to $26.5m in July
2 Sep 20
The retail business environment will remain very difficult in the near term, says a government spokesperson.
Hong Kong's retail sales slip 24.8% in June
3 Aug 20
The decline softened as the local epidemic abated during the month.
Luk Fook's same store sales plunged 71% in Q1
23 Jul 20
They are planning to close five shops in Hong Kong.
Tsim Sha Tsui overtakes Causeway Bay as priciest retail district
8 Jul 20
The district’s diverse trade mix lends it to more sustainable rents.
Structural changes underway for Hong Kong's retail sector
7 Jul 20
Landlords are still reluctant to substantially cut rents.
Online-to-offline model gains ground in Hong Kong
5 Jul 20
The extended operating hours that the internet allows has attracted merchants towards selling online.
Retail sales down 32.8% to $26.8b in May
1 Jul 20
It narrowed from April following a stabilised local epidemic situation.
Dairy Farm launches two concept stores in Hong Kong
30 Jun 20
This includes a new 7-Eleven concept shop and a revamped Market Place.
Jeweller Tse Sui Luen's profit tumbles 265.6% in FY2020
25 Jun 20
Its turnover likewise crashed 28.3% YoY over the same period to $2.91b.
Bank transfers, digital wallets spur e-commerce market
24 Jun 20
The two methods are rising at CAGR of 12% and 11%, respectively.
As Customers Flock Online, Scams Proliferate. How Can You Win the Trust of Customers?
23 Jun 20
The pandemic has set in motion a complete change in customer shopping behaviour.
Nan Fung Group to turn Kai Tak site into commercial area for $32b
17 Jun 20
The 47-storey development building is slated to be the tallest CBD 2.0 building.
Hong Kong retailers amp up online sales capacity
17 Jun 20
However, the online penetration rates in the area still have ample room to grow.
This ecommerce startup can up conversion rates for merchants
16 Jun 20
Omnichat is a messaging platform and can also monitor ecommerce movements.
Chow Tai Fook's profits down 36.6% to $374.29m
11 Jun 20
A surge in gold price and weaker Hong Kong sales dragged down revenues.
Hong Kong's retail industry faces biggest crisis in history
2 Jun 20
C&SD says 15,000 retail stores will be closed by the end of 2020.
Retail sales down 36.1% in April
2 Jun 20
The plunge was led by sales of jewellery, watches and clocks, and valuable gifts.
Over 15,000 shops may close without rent relief
19 May 20
Landlords are only willing to cut rents by 10-20% instead of the requested 50% by retailers.
Retail sales crashed 42% to $23b in March
6 May 20
Jewellry, watches and clocks and valuable gifts saw the sharpest decline.
Local household spending to shrink 5.2% in 2020
5 May 20
Some food service chains have reduced operating hours.
Government to roll out subsidies for some leisure firms in May
29 Apr 20
One-off tiered subsidies will be provided to parlours, massage establishments, and party rooms.
Retail sales down 44% to $22.7b in February
1 Apr 20
The sector took a blow from the COVID-19 pandemic.
Hong Kong's retail sector may see its worst period yet as stores close down
30 Mar 20
Thousands of employees in the industry are set to lose their jobs in the next six months.
January retail sales remain severe amidst COVID-19 outbreak
3 Mar 20
Value of sales dropped 21.4% to $37.8b compared to a year earlier.
Shoppers shun online shopping apps: study
27 Feb 20
Consumers prefer to pick up an item in-store after purchasing it online.
Hong Kong retail firms brace for more nCov impact
11 Feb 20
Tourist arrivals and retail sales already affected by unrest are tipped to worsen.
Retail sales down 19.4% to $36.2b in December
5 Feb 20
Jewellery, watches and clocks, and valuable gifts continue to lead the decline.
31% of business owners expect worse conditions for Q1 2020
21 Jan 20
These were mostly under the hospitality, retail and logistics industries.
Hong Kong's retail market to shrink 2.5% in 2020: PwC
15 Jan 20
Amidst uncertainties, China’s stimulus policies and Sino-US trade negotiations could provide some relief.
Retail sales plunged 23.6% in November
8 Jan 20
Sales of luxury goods fell 43.5% despite the Christmas season.
PMI plunges to 15-year low in November
11 Dec 19
Business sentiment was also at its lowest since 2012.
Hotels and shops take heavy beating as protests reverberate across Hong Kong
9 Dec 19
In August alone, tourist arrivals plunged 40% in its sharpest decline since the 2003 SARS crisis.
Retail sales plunge 24.3% to $30.1b in October
4 Dec 19
Luxury items continued to lead declines with a 42.9% drop in sales value.
Patek Philippe's sole Grandmaster Chime in steel crowned as world's most expensive watch
18 Nov 19
The watch was auctioned for charity at a whopping price of CHF31m.
Causeway Bay remains the world's most expensive shopping street in 2019
14 Nov 19
Rents in Russell Street can go as high as $2,745 psf per year.
Retailers turn to experiential selling to combat sales slump
6 Nov 19
Brands are urged to enhance their own mobile platforms in an effort to sustain the connection with customers long after they have left the store...
Retail sales down 18.3% in September
6 Nov 19
Retail sales are expected to stay weak in the near term as local social incidents continue.
Nearly 4 in 5 Asian retailers have turned to tech tie-ups
24 Oct 19
Half of retailers admit that their digital investments are influenced by their competitors.
Prime street shop rents tumbled 15.4% in Q3 as vacancies mount
16 Oct 19
Retailers are “running out of money” and expired leases were not being renewed.

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