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HKRMA Expects Retail Sales Value Dropped by Low Double-Digit for 2019 Whole Year

 12 Feb 2020
Seminar on Retail Funding Schemes
15:00 - 17:00
21 Feb 2020
Crisis Management in Handling Complaints & Emergency Situations
14:00 - 18:00
25 Feb 2020
Seminar on Labour Issues
14:30 - 17:30
12 Mar 2020
Visit Tour to Greater Bay Area
09:30 - 19:00
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Mrs. Annie Yau Tse, Chairman of Hong Kong Retail Management Association

At the start of Year 2020, I would like to wish all members and fellow retailers happiness, good health and prosperity ahead.

The Government released the latest retail sales figures of November 2019. The total Retail Sales Value (RSV) registered a year-on-year drop of 23.6% to HK$30 billion, similar to that of October. For the first eleven months of 2019, the total RSV decreased by 10.3%. While a majority of member companies reported slightly narrowed sales decline in December, together with the relatively normal market condition in the first half, we expect a low double-digit decline in the total RSV for the entire year of 2019.

The Association continues to hold a pessimistic view towards the outlook of the retail market of Hong Kong in the near term.Despite the mild improvement on the social condition since last month, the retail sales performance, which hinges on how the social incident will develop, is still very uncertain. Moreover, after Chinese New Year, the traditional retail “peak” season, the wave of shop closures and staff lay-off is expected to begin. We will continue to urge all landlords to grant sufficient rental concessions to their retail tenants according to the degree of sales decline.

Consequently, on the total RSV for the first half of 2020, the Association forecasted a year-on-year double-digit decline ranging from -10% to -20%. In light of the expected continuing devastation, we have made our submission for the 2020/2021 Budget, where we recommend to Financial Secretary that further relief measures for our industry should be introduced. We also look into our industry development in the mid to long term by requesting for support that is needed to fulfill our vision and missions. Please click here for accessing the said submission.

Despite the challenges ahead, the Association will continue to drive the development of our retail industry, especially in leading it to achieve new business models in the new era of retail. If you are not yet a member of HKRMA, please don’t miss the chance to join us and enjoy our exclusive members’ benefits.

2020 Smart Retailing Award

To give recognitions to outstanding retail technology vendors and retailers in key aspects of "New Retail", registration for the 2020 Smart Retailing Awards is now opened.

The Award includes Smart Retail Tech Award and Smart Service Innovation Award. Interested tech vendors, start-ups and retailers, please click here for details. Early-bird registration can enjoy 50% off, the deadline is on or before 28 February.

2020 Quality Service Recognition - Now open for registration

2020 “Quality Service Recognition” is an one-off annual assessment to recognize retail brands with quality service performance.

The assessment will be conducted through random mystery assessment visits. For more details, please click here.

The Association will organize a study tour to Greater Bay Area (GBA) Hengqin on 12 March. For more details, please click here.