Hong Kong
Online-to-offline model gains ground in Hong Kong
The extended operating hours that the internet allows has attracted merchants towards selling online.
Online-to-offline model gains ground in Hong Kong
The extended operating hours that the internet allows has attracted merchants towards selling online.
Hong Kong's retail sales down 32.8% to $26.8b in May
It narrowed from April following a stabilised local epidemic situation.
Dairy Farm launches two concept stores in Hong Kong
This includes a new 7-Eleven concept shop and a revamped Market Place.
Hong Kong jeweller Tse Sui Luen's profit tumbles 265.6% in FY2020
Its turnover likewise crashed 28.3% YoY over the same period to $2.91b.
Bank transfers, digital wallets spur Hong Kong e-commerce market
The two methods are rising at CAGR of 12% and 11%, respectively.
Hong Kong retailers amp up online sales capacity
However, the online penetration rates in the area still have ample room to grow.
This ecommerce startup can up conversion rates for merchants
Omnichat is a messaging platform and can also monitor ecommerce movements.
Chow Tai Fook's profits down 36.6% to $374.29m
A surge in gold price and weaker Hong Kong sales dragged down revenues.
As Customers Flock Online, Scams Proliferate. How Can You Win the Trust of Customers?
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.
Hong Kong's retail industry faces biggest crisis in history
C&SD says 15,000 retail stores will be closed by the end of 2020.
Over 15,000 Hong Kong shops may close without rent relief
Most are only willing to cut rents by 10% to 20% instead of the requested 50% by retailers.
Deliveroo posts 104% jump in vegan orders in 2020 YTD
An increase in the number of vegan restaurant partners has also been seen.
Hong Kong's retail sales crashed 42% to $2.97b in March
Jewellry, watches and clocks and valuable gifts saw the sharpest decline.
Hong Kong's household spend to contract 5.2% in 2020
Some food service chains have reduced operating hours.
Esprit Holdings shuts all Asian stores outside China
The 56 stores contributed to less than 4% of its 9M FY2020 revenue.
Hong Kong stamps over $1.5b in subsidies for retailers
Around 19,000 applications were accepted in the subsidy scheme.
Asian consumers to eat at home more frequently: survey
Amongst markets in the region, Hong Kong has been taking out food the most.
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EY’s Olivier Gergele highlights how retailers can navigate and thrive in today’s complex landscape and evolving consumer preferences
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By implementing a sound omnichannel strategy, prioritising the consumer experience and adapting to changing trends, retailers can differentiate their value proposition.
By implementing a sound omnichannel strategy, prioritising the consumer experience and adapting to changing trends, retailers can differentiate their value proposition.
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