Mainland Chinese brands to lead retail leasing in troubled Hong Kong market
Mainland Chinese and emerging brands are predicted to be the most active players in Hong Kong's retail property leasing market in the coming months. This comes as most retailers remain cautious despite an increase in tourist arrivals, and the retail sector continues to struggle with declining sales.
Hong Kong's retail sales have fallen for ten consecutive months, with a 7.3% decline for the full year. This market restructuring is expected to lead to some brand eliminations and high vacancy rates, but also presents opportunities for new businesses. Mainland Chinese brands, particularly in the food and beverage sector like Luckin Coffee and Little Sheep, have already been expanding in Hong Kong, taking advantage of discounted rents.
via SCMP Full Text Feed
Mainland Chinese and emerging brands are predicted to be the most active players in Hong Kong's retail property leasing market in the coming months. This comes as most retailers remain cautious despite an increase in tourist arrivals, and the retail sector continues to struggle with declining sales.
Hong Kong's retail sales have fallen for ten consecutive months, with a 7.3% decline for the full year. This market restructuring is expected to lead to some brand eliminations and high vacancy rates, but also presents opportunities for new businesses. Mainland Chinese brands, particularly in the food and beverage sector like Luckin Coffee and Little Sheep, have already been expanding in Hong Kong, taking advantage of discounted rents.
via SCMP Full Text Feed
