What'S Wrong With Hongkong'S Retail Industry? Once Bought And Sold, There Are Now Few Birds.

Go to Hongkong to buy! Buy! Buy! Harbour City and Times Square are the places to go, Chanel, Gucci, Dior, Hermes and so on.

Everything is ready to buy you once.

However, it is hard to see the scene of passengers' mad sweeping up now in Tsim Sha Tsui and Russell street.

In the first quarter of this year, the number of visitors to Hong Kong fell by 11.9%, compared with the same period last year. The number of mainland visitors who accounted for 70% of the total number dropped by 7.5%, and the mainland customers who lost their strong consumption power dropped. The retail sales in the first quarter of Hongkong dropped by 12.5%.

This bears the brunt of Harbour City and Times Square.

Today, Wu Tianhai, chairman of the two shopping centers and chairman of the board of directors of 00004-HK, after the shareholders' meeting, lamented the Hongkong economy, especially the big bull market in the retail industry.

First quarter of Hongkong in the past 10 years

2016 is the worst in 6 years.

How bad is the bear market in Hongkong?

He gave us an account: suppose that the turnover of Harbour City merchants in 2003 was 100 yuan, and after 2003, the volume of the bull market rose by five times to 500 yuan in 2014. However, there was an unexpected situation. In 2015 alone, the volume of turnover decreased by more than 10%. He sighed that the figure was amazing. Asked about the suggestions for retailers to get out of the predicament, he said only that he hoped to be smart and hope for himself.

Can find a way to cross the haze.

There was once a crowd of South Street in Mong Kok Sai Yeung Choi, and there were not many tourists in the 51 golden week.

After talking about retail, how does the new president of the Hongkong General Chamber of Commerce treat Hongkong's economic prospects? Wu Tianhai's answer is: Hongkong's economy is "sick", but do not interfere with the drug supply, let the market save itself! Wu Tianhai said Hongkong has been pursuing free business, but now there are many voices asking the government to intervene in the market.

He describes that Hongkong's economy is now like a "patient". Intervention is like taking medicine, and taking medicine may be useful, but the more effective drugs will fail, the more dangerous it will be. He does not think it is necessary to eat special drugs, and believe in the operation of the market.

Similarly, Hongkong's hotel industry is also dragged down by tourists. Even the The Peninsula Hotel, which is favored by luxury buyers, has declined by 7% in the first quarter of this year.

Guo Jingwen, chief executive of The Peninsula Hotel operation group (00045-HK) today, when he was interviewed after the shareholders' meeting, asked to ask about the hotel income during the May 1 holiday. He only answered "not too strong nor bad". When asked about the hotel reservation in the second quarter, he only answered "difficult to predict". When asked whether the hotel had any preferential activities, he only answered "see the demand".

Oh, he must have bitterness.

At the same time, Guo Jingwen regrets that the weakening of the Japanese yen has led many passengers to Japan and also to the business of Hong Kong Hotel.

While the yen is weakening, Goldman expects that the US dollar will rise by 15% in the next two years. It must also drive the Hong Kong dollar linked to the US dollar to continue to strengthen. If this continues, it will not be enough to frighten the passengers to cling to their purse strings and not dare to come to Hongkong to buy! Buy! Buy! When Hongkong sells the industry, it will be hard to predict when the Zero selling industry will have the old scenery again.