Analysis Of The Reasons For The Collapse Of Retail Trade In Hongkong In 2015

In September this year, the estimated value of total retail sales in Hongkong was HK $35 billion 200 million, down 6.4% year on year.

Compared with the same period last year, the sale value of jewellery, clocks and watches and gifts was reduced by 22.9%.

Next, we will analyze the reasons for the collapse of Hongkong's retail industry in 2015.

According to the data released by the Hongkong SAR Government in February, Hongkong's total retail sales in 2014 amounted to HK $493 billion 300 million, down 0.2% from the previous year.

This is the first negative growth in retail trade in Hongkong in the past 11 years since the introduction of free trade.

Some analysts believe that more mainland tourists empathize with Europe and the United States is also the main reason.

On the one hand, the number of mainland tourists traveling to Europe and the United States increased, and the euro depreciated. However, because of the high rental of the shops in Hongkong, some of the goods sold had no price advantage relative to Europe and the United States, and gradually lost their attractiveness to the mainland's high purchasing power.

On the other hand, online shopping has grown rapidly in recent years, and overseas purchasing business has also diverted some mainland tourists' purchasing power.

Retail industry is one of the four pillar industries of Hongkong's economy.

"Mainland buyers" has become a decisive force in supporting Hongkong's retail industry in the past ten years.

Hongkong's retail industry has left gold for ten years.

The estimated value of total retail sales in Hongkong in August this year was 37 billion 900 million yuan, down 5.4% year-on-year.

And footwear has fallen by 4.4%. The recent surge in the stock market may also weaken consumer sentiment.

The sales value of the main categories of retailers ranged from high to low. In August this year, compared with August last year, the value of sales of jewellery, clocks and precious gifts decreased by 8.8%; clothing (down 13.5%); drugs and cosmetics (down 5.1%); food, alcoholic beverages and tobacco (down 10.2%); other unclassified consumer goods (down 10.8%); automobile and auto parts (down 6.5%); fuel (down 7.4%); newspapers, stationery and gifts (down 4.4%); footwear, related products and their clothing accessories (fall 4.4%); furniture and fixtures (dropped 5.9%); Chinese medicine (fall 5.9%); and optical store (fall 5.9%), August. Press

On the other hand, compared with the same month last year, the value of goods sold in supermarkets increased by 0.4% in August this year, followed by electrical appliances and photographic equipment (sales value increased by 3.9%), and miscellaneous durable consumer goods (up 50.2%).

The value of sales was analysed from high to low. Compared with the same period last year, the value of sales of jewellery, clocks and precious gifts decreased by 22.9%; clothing (down 12.3%); clothing and cosmetics (down by 0.6%); electrical appliances and photographic equipment (down 7.7%); miscellaneous durable consumer goods (down 2%); other unclassified consumer goods (down 9.1%); automotive and automotive parts (down 8.8%); fuel (down 11.8%); furniture and fixtures (fall 1.6%); footwear, related products and other clothing accessories (down 7%); newspapers, stationery and gifts (fall 7%); Chinese medicine (fall); and optician stores (fall), September (September). By retailer's main categories

According to the latest data, Hongkong's retail sales have declined for eight consecutive months, and the number of tourists in mainland China is also decreasing in October. The latest month's data fell by 4.2% compared with the same period last year.

Many luxury brands have stopped expanding or even closed stores. For example, Burberry has reached an agreement with Hongkong's Taigu real estate to reduce the size of its flagship store at Taigu square and close the second storehouse of flagship store, but still can not balance its business.

Many retailers feel the pressure of economic and consumer weakness.