Web Version | 中文版
HONG KONG RETAIL MANAGEMENT ASSOCIATION E-NEWSLETTER                     SEP 2019
 
 


July Retail Sales Dropped by 11.4% HKRMA Expects August & September Will Be Even Worse

10 Oct 2019
Retail Executive Series - Social Media Marketing Course 3
15:00 - 17:00
 
11 Oct 2019
2019 AGM Luncheon
12:30 - 14:15
 
25 Oct 2019
Retail Change Management Workshop
09:30 - 17:30
 
30 Oct 2019
2019 Retail Excellence Award Open Presentation Seminar
10:00 - 16:30
 
View More
 


Mrs. Annie Yau Tse, Chairman of Hong Kong Retail Management Association
 

The Government released the latest retail sales figures of July. The total retail sales value was HK$34.4 billion, decreased by 11.4% year-on-year. The sales value of Jewellery, Watches and Clocks and Valuable Gifts registered the biggest drop at 24.4%, followed by commodities in Optical Shops and Electrical Goods and Other Consumer Durable Goods, Not Elsewhere Classified, dropped by 17.8% and 17.4% respectively. Member companies reflected that the sales performance was even more challenging in August, compared with July’s performance. The sales value of shops located in tourist areas edged down by 50%, while shops selling daily necessities also registered a drop ranging from 20% to 30%. Most of our member companies expected that the sales in September would be even worse than that in August.

The Association has already adjusted the retail sales value forecast from single-digit growth to double-digit drop for 2019 as a whole. The magnitude of the drop will depend on the length of the social incidents. In fact, member companies have already implemented tight budget control in order to survive the turmoil.

To assist members to sail through the current ordeals, the Association has been keeping close contact with the Government, landlords and other major stakeholders to explore different collaborative measures. High rental is certainly the biggest challenge faced by retailers, therefore the Association has written to all landlords as well as advertised in major newspapers in mid-August, calling landlords to grant rental relief to retail and catering tenants. At the same time, we are contacting the Financial Secretary, urging the Government to put forward practical measures to help the retail industry, such as funding to ease liquidity problems and reduction in Government’s rates.

Looking forward, we have submitted our recommendations to the Chief Executive on 2019 Policy Address. Besides the immediate measures, we proposed an array of mid to longer term measures on the development of retail industry and highlighted the importance for the Government’s proactive participationin improving retail business operating environment. In particular, the skyrocketing rent in Hong Kong has been amongst one of the highest in the world. However, there is no control mechanism or guidelines on commercial leasing for the retail industry.We urged the Government to tackle some deep-rooted issues as it has been damaging the retail industry’s sustainable development and threatening the survival of SMEs. At this critical juncture, we fellow retailers need to support one another and stay united. The Association’s Annual General Meeting and Luncheon on 11 October at JW Marriott hotelwould be a golden opportunity for us to show support, exchange information and get the industry’s update. May I urge all members and fellow retailers to join this meaningful event.

 

Smart Retailing Conference II: SHOPLINE X HKRMA Quality E-Shop Competition 2019 Award Presentation

Smart Retailing Conference II, themed on Deliver Truly Customer-Centric Digital Marketing, was held on 23 September, 2019. Retail digital marketing experts addressed on the disruptions in latest digital retail marketing and a forecast upcoming trends in 2020.

Meanwhile, an Award Presentation of SHOPLINE X HKRMA Quality E-Shop Competition was also held to grant Gold, Silver, Bronze Awards and 25 Certificates to the recognized “Quality E-Shops”. For event highlights, please click here.

 

SME Retailers Energy Efficiency Starter Pack

The HKRMA SME Retailers Energy Efficiency Starter Pack (REESP) aims to provide simple overview of the most business relevant energy efficiency information for Small and Medium size (SME) retailers and F&B operators in Hong Kong.

Please click here for the details.

 
Full Member  

 

Beauty & Cosmetic

Dermacol HK Beauty Company Ltd

Fashion & Accessories

Beluxury Land

Big Panda Ltd
  GT Fashion (HK) Ltd Savie Buying Company
Furniture & Home Accessories Loyal Gain Group Ltd
Healthcare Products Magnetic Massager Therapy Ltd Topot Company Ltd
Specialty Stores - Books/ Magazines/ Stationery/ Gift Times Publishing (Hong Kong) Ltd
Watch & Jewellery

Daniel Wellington HK Ltd