Hongkong Luxury Store Is Playing A "Metamorphosis".

The days of mainland Chinese tourists queuing up at the gates of LV, Gucci and Tiffany shops are returning home in Hongkong.

In Hongkong's Taigu square, luxury stores are performing a "Metamorphosis". Burberry's department store space is divided into yoga hall Pure and fruit juice partitioned, milk tea shops take the place of the evacuation Coach, and the southern California style restaurant quietly "stationed" to LV store.

Past times,

The days of shoppers' long queues and the return of shoppers in mainland China are gone forever, and the retail industry in Hongkong is also undergoing structural adjustment.

We are enriching our business.

According to the world clothing and shoe net, after reaching its peak in 2013, Hongkong's retail industry has been in a long and slippery way.

Once the main consumer group, the consumption habits of Chinese tourists have changed, they began to buy luxury brands directly in the mainland or choose the channel of e-commerce, and pay more attention when they travel outside.

According to statistics, the average consumption of overnight tourists in Hongkong dropped by 8.8% in 2016.

In August, sales of luxury goods were less than 1/3 of the peak in April 2013.

In 2015 -2016, Hongkong also ushered in a wave of luxury stores.

To Gucci, Coach, LV and then to Switzerland's Jaeger Le Coulter, they are fleeing Hongkong.

After consulting the annual reports of the major luxury brands in 2016, the performance of luxury brands is getting warmer. Especially in the mainland of China, sales growth is very large, and is highlighted in the earnings report, but the recovery in Hongkong is very slow.

Annual reports of major brands in 2016

Luxury stores are pformed into restaurants, yoga houses and juice bars. The retail industry in Hongkong is carrying out the "Metamorphosis" data compiled from the big brands in 2016. The consumers from mainland China do not buy luxuries, but instead spend all their money on leisure and entertainment.

Last year, Chinese tourists spent less than 17% on shopping, while spending on leisure and entertainment was much higher, according to Oliver Wyman, a consultancy.

In June this year, the Chinese tourist consumption bill, the global tourism consumption report 2017, can also prove that Chinese tourists are more inclined to enjoy, rather than buy, buy and buy.

From January to April 2017, the amount of shopping and consumption of Chinese tourists was 138 billion yuan, and the amount of overseas shopping consumption was 27 billion 790 million yuan, which decreased by 41.5% and 37.2% compared with the same period last year, while the consumption of their entertainment items increased significantly. The per capita consumption of entertainment and consumption increased by 334%.

The picture shows the consumption trend data of Chinese tourists.

Luxury brands began to shrink their fronts, and luxury shopping centers with a large number of luxury stores began to explore new ways. Taigu real estate has introduced 30 new shelves in the past 18 months, and the number of restaurants has doubled.

Meanwhile, companies such as Kowloon warehouse and Shen Shen are also adding more catering and leisure and entertainment businesses to their shopping malls.

Restaurants, yoga houses and juice bars have become the most popular categories of shopping centers.

Most of the space that new businesses occupy is the location of luxury stores.

Shopping centers no longer regard themselves as high-grade luxury goods stores, but rather a new way of life experience.

Practice a yoga, a meal, and a shopping service.

For example, the Yoga chain corporation Pure introduced by Swire is specially located in high-end shopping centers and is adjacent to luxury goods.

Hongkong is not the only changing city in Asia. Singapore's shopping center operators have shifted from luxury to more diversified businesses. According to data from world research group CB Richard Ellis, the proportion of restaurant tenants in Singapore's shopping malls increased by 40% over the past ten years.

The same is true in mainland China, but catering is not a luxury brand, but a broader retail brand.

The introduction of catering and entertainment businesses has brought more passenger flow to operators of shopping centers, slowing down the impact of declining sales.

In the first half of 2017, although Taigu's retail revenue declined slightly by 0.2%, Taigu square achieved sales growth, and the volume of traffic increased significantly.

The sales revenue of Hongkong's largest retailer, Kowloon warehouse, has increased by 3%, mainly because Harbour City's dependence on luxury goods has been reduced.

But in this important problem, the new entertainment and catering brands can bring the passenger and sales volume far less than the profits brought by luxury goods to the shopping center operators.

On the one hand, the rental cost of luxury goods in shopping malls can be said to be sky high. When luxury brands are withdrawn, owners will have to cut down the space to other businesses to avoid prolonged vacancies.

This year, Hongkong's four largest gold retail businesses in central, Tongluowan, Tsim Sha Tsui and Mong Kok rents reduced by 22% compared with the same period last year.

In the case of rent alone, the developers behind the shopping center have lost a lot.

On the other hand, the sales of the real estate business from the business department will be reduced obviously. We make a hypothesis that the luxury store will be pformed into a Starbucks coffee shop. The sales volume of over 600 cups of coffee is equivalent to selling a 20 thousand bag, and it is equivalent to a luxury watch to sell more than 1700 cups.

From a shopping center operator, even if luxury sales are sluggish, it will be very substantial to sell Chengdu as long as it can sell one.

It is understood that in Beijing SKP four floor hot women's clothing area luxury stores, such as D&G, daily sales in the million level, this is a restaurant and ordinary retail brand hard to reach the level.

As the number of tourists and retail sales rebounded, the diversification of shopping centers attracted more customers to enter the store. But Peng Bo, an analyst at Hongkong real estate research firm, said that although the sales situation has improved, the owners of shopping centers can hardly realize the glory of the past Patrick Wong.

More interesting reports, please pay attention to the world clothing shoes and hats net.