Hongkong'S Retail Industry: Worries About Competition In The Second Half Of The Year

Facing the violent incidents of militants driving the mainland tourists this year, as the "hospitable capital" of Hongkong, the tourism industry is very worried. The number of mainland tour groups has plummeted every day, and many tourism employees of mainland tourists have nothing to do. "The most important thing in Hongkong today is to build confidence in the world's tourists."

Retail sales in Hongkong continued to be cold, and sales of many large jewelers declined.

Zhou Dafu, chairman of Hongkong's largest market jewellery company, Zheng Jiachun, has said that the consumption desire of Hong Kong and Macao market has weakened this year. In fiscal year 2015, sales in Hong Kong and Macao fell by 32.8% compared with the previous fiscal year.

The growth of Zhou Dafu's business in Hong Kong and Macao is facing challenges and pressures. There is no plan to open a new store in Hong Kong in the next year, and we are going to close the two branches in Hong Kong.

Zheng Jiachun predicts that the retail market in Hongkong will slow down more than the mainland, and the mainland's retail market has greater potential for development than Hongkong, so it will actively expand the retail network in the mainland.

Zhou Yongcheng, chairman and general manager of the group, also said that in the first 5 months of this year, sales in Hongkong had regressed, but sales in the mainland continued to grow. Sales of luxury goods in Hong Kong decreased by 18% over the same period last year, mainly due to Hongkong.

The atmosphere is bad.

The tourism competition around Hongkong is very fierce.

Su Jinliang said: "in the first quarter of this year, there has been a great increase in the number of mainland visitors to other places. For example, the number of mainland visitors to Japan and Thailand has increased by more than 90%, up to 60% in the first quarter of Vietnam and 36% in Korea."

Facing the slowdown in visitor arrivals,

In June, the Tourism Development Council launched a raffle lasting 78 days to provide 2 million 400 thousand gifts to customers with a value of HK $400 million and retail, catering businesses, attractions and hotels.

In early July, the Tourism Development Council held a Dragon Boat Carnival at Victoria Harbour to attract more visitors.

Liang Zhenying, chief executive of the Hongkong Special Administrative Region, once said that the potential of Hongkong to develop tourism is quite good. The next step is to develop new markets and find new bright spots and selling points.

Liang Zhenying said that Hongkong is a "tourist capital". Tourism has played an important role in the economic and social development of Hongkong in the past decades. However, at different times, the emphasis and selling point of Hongkong's tourism industry have changed.

For the second half of the Hongkong tourism market, Su Jinliang said that the surrounding areas are competing for the tourist resources. Therefore, Hongkong should enrich the tourist resources, let the passengers have more rich tourism experience, and pay attention to the changes in passenger structure and consumption, as well as the impact on the retail industry, catering industry and the hotel industry.

Looking forward to the second half of this year, Lin Zhiting told the interface reporter that the tourism industry in Hongkong still has great efforts to develop. Hongkong's cruise and wharf and other special cultural tourist attractions and so on have not been able to excavate the package. While the Hong Kong Zhuhai Macao Bridge and the Hongkong section of Guangzhou Shenzhen high speed railway, the construction of the third runway of the airport has not been started or completed, and the competition in Southeast Asia has posed a great hidden danger to the tourism prospects of Hongkong in the second half of the year.