HKRMA Archives - Inside Retail Asia
Hong Kong’s retail industry is facing “a crucial, life-and-death moment of survival” according to the city’s main retail body the HKRMA.
With sales decimated by the coronavirus crisis, and with little support coming from landlords, some 20,400 Hong Kong retail stores will close by year end, according to research from the HKRMA.
Thousands of stores will close and 5600 jobs will be lost as Hong Kong retailers try to recover from a “severe” sales decline brought on by social unrest and declining mainland visitor numbers.
“Dozens” of smaller Hong Kong retailers will be forced to close their doors as ongoing protests – now into their 15th week – impact trade.
Sales by Watsons stores located in areas affected by ongoing street protests have fallen markedly in both June and July.
High rents and a shortage of workers are the greatest issues facing Hong Kong retailers according to a new report from KPMG and the Hong Kong Retail Management Association (HKRMA)
The ongoing Hong Kong protests are eroding the sales of the territory’s retailers according to the HKRMA.
Fewer than half of Hong Kong online shoppers are using home computers to transact. internet.
Mindset and talent are the two factors holding back the Hong Kong e-commerce sector, according to a senior Google executive.
Not all student-workers in the pilot earn-and-learn retail industry scheme in Hong Kong are still working in retail, the Legislative Council has been told.
HKRMA members are now more optimistic of Hong Kong retail sales growth than in recent months.
Early consensus on the state of Hong Kong retail sales in the first two months of 2017 is – no consensus at all.