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HONG KONG RETAIL MANAGEMENT ASSOCIATION E-NEWSLETTER                     OCT 2019
 
 


August Retail Sales Slumped 23% HKRMA expects steeper drop in October

30 Oct 2019
2019 Retail Excellence Award Open Presentation Seminar
10:00 - 16:30
 
30 Oct 2019
Seminar on Retail Industry's Challenges & Opportunities
15:00 - 16:45
 
5 Nov 2019
Retail Executive Series: Design Thinking Course on Building a "Powerful" Service Dream Team
15:00 - 18:00
 
19 Nov 2019
Retail Executive Series: Design Thinking Course on Building a "Powerful" Service Dream Team 2
15:00 - 18:00
 
29 Nov 2019
2020 Hong Kong Retail Outlook Seminar
15:00 - 17:30
 
3 Dec 2019
2019 HKRMA Annual Awards
14:30 - 18:00
 
5 Dec 2019
Retail Executive Series: Design Thinking Course on Building a "Powerful" Service Dream Team 3
15:00 - 18:00
 
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Mrs. Annie Yau Tse, Chairman of Hong Kong Retail Management Association
 

The Government released the latest retail sales figures of August. The total retail sales value was HK$29.4 billion, decreased by 23% year-on-year, which is the worst on record. For the first eight months of 2019, total retail sales value fell by 6%. Since June, the retail industry has been seriously impacted by the prolonged social unrest, leading to frequent business disruptions and huge sales losses.

Nonetheless, the Association expects that the worst is yet to come for the sales performance in September and October. As the base in October is often higher due to the Mainland’s National Day Golden Week, the Association forecasts an even steeper year-on-year sales drop in October comparing to those in August and September.

Amid the prevailing difficulties, retailers could hardly boost sales and thus the only survival strategy is to implement tighter cost control, especially reductions in rent. In this regard, the Association has been persistently urging major landlords to grant a rent reduction of 50% for six months (or up to a degree comparable to the sales decline of individual retailers) via all channels.

Our high-profile lobbying was underscored by a media standup hosted by Mr. Paul Chan, the Financial Secretary, and I after the Association’s AGM and Luncheon on 11 October. On the occasion, we reiterated our appeal to the landlords for immediate rental reductions to secure survival of retailers. Members may refer to a circular dated 18 October for detailed information on the Association’s stance and various initiatives undertaken so far.

This year, we will take on a new format to celebrate with the winners of our flagship programmes, namely Service & Courtesy Award, and 2019 Service Retailers of the Year. This new event, 2019 HKRMA Annual Awards, will take place on 3 December at Kowloon Bay International Trade & Exhibition Centre (KITEC). Members are most welcome to attend and share the joy of our winners.

 

2019 HKRMA Annual Awards

2019 HKRMA Annual Awards will take place on 3 December at Kowloon Bay International Trade & Exhibition Centre.  Winners of the Service & Courtesy Award and Service Retailers of the Year will be announced at this event, which will be attended by over 1,200 participants. Please click for sponsoships and seats reservation.

   

2020 Quality Service Recognition & Quality E-shop Recognition - Now open for registration

2020 “Quality Service Recognition” & “Quality E-shop Recognition” are now open for application.

Apply now and get recognitions for your online & offlice retail business to gain customer confidence.  For more information, please click here.

 

 

2020 Hong Kong Retail Outlook

To assist members to sail through the ordeals, this conference aims to focus and provide forward-looking insights on Global and Hong Kong Economy, Retail Property and Rental, Retail Market Trend and also Talent Development in 2020 so that retailers could prepare well their business for the coming challenges.

Please click here for the details.

 
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