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Retail Sales Fell by 6.7% Retail Sector Hit Hard by the Prolonged Demonstrations

26 Aug 2019
Discover WhatsApp for Business (Workshop)
16:00 - 18:00
 
30 Aug 2019
Retail Executive Series - Social Media Marketing Course
15:00 - 17:00
 
9 Sep 2019
Google Free Marketing Workshop (2) - Demystifying Data-driven Marketing
16:00 - 18:00
 
12 Sep 2019
Retail Executive Series - Social Media Marketing Course 2
15:00 - 17:00
 
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
 

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

The Government released the latest retail sales figures of June. The total retail sales value was HK$35.2 billion, edged down 6.7% year-on-year. For the first half of 2019, the total retail sales value decreased by 2.6% year-on-year. The downtrend in the sales value of retail categories related to visitors’ spending has been amplified; the sales value of Jewellery, Watches and Clocks, and Valuable Gifts dropped by 17.1%.

With the uncertainties brought by the prolonged US-China trade war and the depreciation of Chinese yuan, the Association has already indicated earlier that the retail market will remain weak this year. Nonetheless, due to the protests that have been going on since June, majority of our member companies indicated that the sales performance has further dampened during the July and August summer sales season. Some member companies even reported high double-digit drop in sales for shops located at the protest areas.

According to government’s figures, the total number of visitor arrivals is declining on a weekly basis since mid-July and the drop was widened to near 50% in mid-August. Given the protests have further spread to different districts as well as the Hong Kong International Airport, the Association expects a double-digit drop in total retail sales value for the year 2019.

In fact, the damage to retail business has directly impacted the frontline staff’s take-home income. Some member companies reported that their staff’s income, which is paid on a commission basis, has also declined accordingly because of the tremendous sales drop caused by significant business disruptions. Furthermore, retail-related industries, such as the import and export trade, wholesale, transportation and storage sectors, will also suffer from the subdued retail market.

As the recent incidents have made an immediate and profound impact on the retail industry, the Association has issued a letter to call for all landlords to collaborate at these critical moments by offering rental and management fee relief measures. Facing such unprecedented crisis, retailers are in critical need of the support from our stakeholders to sail through the challenges without going out of business or cutting headcount. At this critical juncture, the Association tries its utmost to assist members and fellow retailers to survive the ordeals and to sustain the long-term development of our industry.

On my last note, the Smart Retailing E-Newsletter of this month focuses on cyber security and online payment, analyzing how cyber security of e-shops can be enhanced so that customers may shop online safely without worries. I hope you will find the information inspirational and insightful.

The Association has been working hard to drive smart retail transformation in Hong Kong. For allowing members to understand the latest market information in this aspect, our e-newsletter will feature a special focus on “Smart Retailing” starting from this month on a quarterly basis. A section with similar information will also be set up on our website.

 

Retail Cyber Security – Are You at Risk?

We live in a connected world that offers unrivalled convenience, efficiency and access to information. With this connectivity, however, comes threats. Recently the retail industry has been a prime target for cyber-attacks. Retail cyber security is essential to guard against hackers and it is critical that retailers know the risks they face and how to protect themselves against attacks. Read the Full Article
 
Free SME In-depth Website Security Scan Services

According to Internet surveys, there is ONE hacker attack for every 39 seconds. It is crucial to be alert and enhance one’s website security, no one can afford being attacked. Hong Kong Internet Registration Corporation Ltd. is offering a free website security scan exclusively to SME .hk domain owners. Please click here for more details.
 

HKRMA AGM Luncheon (11 Oct)

The Association's AGM Luncheon will be held on 11 October at the JW Marriott Hotel. We are very honoured to have invited Mr. Paul Chan, the Finacial Secretary, to be our guest speaker to share his valuable insights on the latest economic outlook and the Government's strategy for the development of Hong Kong, and its implications to the retail industry. Please click here to register!
 
Annual Dinner & Retail Awards Presentation Ceremony (3 Dec)

The 2019 Annual Dinner & Retail Awards Presentation Ceremony of the HKRMA will be held on Tuesday, 3 December 2019 at the Grand Hall of the Hong Kong Convention and Exhibition Centre.  This year, the association is honoured to have invited Mr. Matthew Cheung Kin-chung, GBM, GBS, JP, Chief Secretary for Administration, as our Guest of Honour.

The Annual Dinner is one of the most expected events of retail industry, accommodating about 1,500 guests from member companies, the retail trade, as well as key representatives from the business community.  On the occasion, the Association will also present awards to winners of the "2019 Service Retailers of the Year", "2019 Service & Courtesy Award" and "2019 Top 10 Quality E-Shops Awards".

Members, affiliated retailers and companies are cordially invited to join us by table reservation, event sponsorship and prize donation for Grand Raffle Draw.  Early bird discount on table reservation till Oct 4, Act Now!

 
 
 
Full Member

Beauty & Cosmetic

EC Cosmetic Medical Company Ltd

Fashion & Accessories

Devotion Holdings Ltd

Kei Wan International Trading Ltd

 

Monster Things Ltd

Villa Europe Fashion

  Wolford Asia Ltd  

Food Shops

P & J Food HK Ltd

Specialty Stores

Pacific Coffee Company Ltd

Associate Member

Brink's Hong Kong Ltd
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