Retail
3 key strategies for Hong Kong retailers to amplify sales in 2024
3 key strategies for Hong Kong retailers to amplify sales in 2024
Implementing one of these strategies has shown conversion rates between 50%-70%.
Loyalty- and tech-driven strategies key to effective returns management
Experts vouch for third-party services to leverage the potential of return policies.
Provisional retail sales up 7.8% YoY in December 2023
For the whole year, Hong Kong saw a 16.2% increase in retail sales value.
High street shop rents rise 14.8% YoY in 2023
In 2024, experts expect rents to climb by only 5%-10%.
Retail sales value rises 5.6% YoY in October
The total value stood at $33.8b.
Retail sales up 13% YoY to $31.8b in September
Online retail sales accounted for 11% of the total value.
Unit sales of tech and durables market drop 7% YoY in 1H23
Across subsegments, IT recorded the biggest drop in value USD terms, falling -22%.
Retail sales up 13.7% YoY to $32.4b in August
The sector will continue to benefit from the growth of inbound tourism.
UK’s Berkley Group to run first-of-its-kind pop-up retail experience in HK
The pop-up will run for five weeks.
Brands that act with empathy win trust of Hong Kong consumers
An IPSOS report showed that consumers’ trust towards businesses has been eroding.
Brands that act with empathy win trust of Hong Kong consumers
An IPSOS report showed that consumers’ trust towards businesses has been eroding.
Loyalty programmes are more popular with Gen Zs and Millennials
The lowest interest is from Baby Boomers.
HK investors favour retail properties
There were more larger sum of transactions generated in August 2023.
3 key elements that fuel branded mobile app effectiveness
By introducing a shopping credit in its mobile app, a retailer saw a 500% growth in sales.
Online wholesale marketplace Markato enters Hong Kong
The startup enables a one-stop shop for retailers and buyers.
Around 9 in 10 people in Hong Kong would buy engagement ring locally
Preference for a more glamorous wedding is now back.
Retail sales to grow 17% YoY in 2023 – PwC
This is equivalent to HK$408b.
Read Here
Advertise
Sign Up
Commentary
Don’t let ESG gaps affect your asset’s value