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Analysis: Here’s why Hong Kong retail is down, but not out

Imagine a place where retailers are not under threat from e-commerce and residents have a distaste for shopping online. Where loyalty is not really a concern because the majority of retail sales are made by tourists. Where retailers have become complacent and lack the drive to innovate.  This is not some imaginary place, but best describes what Hong Kong was like up until 2018. Retailers had it pretty easy compared to their Western counterparts. A steady stream of visitors – particularly