Hong Kong

The retail business environment will remain very difficult in the near term, says a government spokesperson.

The declines narrowed from Q1 as social distancing measures eased.

It can provide a channel for its consultants to make extra commissions.

The decline softened as the local epidemic abated during the month.

They are planning to close five shops in Hong Kong.

The district’s diverse trade mix lends it to more sustainable rents.

Landlords are still reluctant to substantially cut rents.

The extended operating hours that the internet allows has attracted merchants towards selling online.

It narrowed from April following a stabilised local epidemic situation.

This includes a new 7-Eleven concept shop and a revamped Market Place.

Its turnover likewise crashed 28.3% YoY over the same period to $2.91b.

The two methods are rising at CAGR of 12% and 11%, respectively.

However, the online penetration rates in the area still have ample room to grow.

Omnichat is a messaging platform and can also monitor ecommerce movements.

A surge in gold price and weaker Hong Kong sales dragged down revenues.

The pandemic has set in motion a complete change in customer shopping behaviour. Not only are people increasingly going online to buy items which they previously preferred to buy offline, such as medicine and groceries, but those earlier uncomfortable with online shopping are now giving it a try.