Can no longer be yayapapaya like last time.
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Chitchat HK Retail Complete Collapse! Cantonese no longer yayapaya!
- Thread starter Pinkieslut
- Start date
Can no longer be yayapapaya like last time.
Soon for Singapore.
Contrary to popular myth, after the 1997 handover, there was a revival in the retail scene up till about 2010. Sales were up, service was exemplary - instead of the usual colonial uppity attitude towards casually dressed and non-Canto customers everyone would be accosted with "If you need help while browsing, just let us know", and tourists kept pouring in. One of my friends had purchased a book which had to be brought over from another branch, but he had to catch a flight back. So the salesman brought the book down straight to the airport to him just before takeoff.
In the past decade, however, HK struggled to compete with Shenzhen and GZ owing to its high rentals and overheads and the latter's rapidly improving retail infrastructure. The Hong Kongers themselves would troop over to SZ on the weekend to shop and eat - greater variety, food and shopping was up to 30% cheaper. The 2019 CIA-sponsored riots resulted in many natives emigrating in droves, and finally COVID-19 put a lid on the retail scene. The service today is back to pre-1997 days - rude, patronizing towards non-Canto speakers, no service in many stores and in some cases, even violence by salespeople (reminiscent of our Sim Lim).
In the past decade, however, HK struggled to compete with Shenzhen and GZ owing to its high rentals and overheads and the latter's rapidly improving retail infrastructure. The Hong Kongers themselves would troop over to SZ on the weekend to shop and eat - greater variety, food and shopping was up to 30% cheaper. The 2019 CIA-sponsored riots resulted in many natives emigrating in droves, and finally COVID-19 put a lid on the retail scene. The service today is back to pre-1997 days - rude, patronizing towards non-Canto speakers, no service in many stores and in some cases, even violence by salespeople (reminiscent of our Sim Lim).
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You forgot to add Xi Jinping heavy handed dealing with free speech in Hong Kong. Before that, it was tolerated.
Hong Kong national security law was the final nail in the coffin.
Free speech does not affect retail, FDI maybe. Shenzhen has no free speech, but go there on a weekend and you'll see thousands of HKers shopping and eating there. SZ is to HK what JB is to Sg.
It affected consumer sentiments and business confidence. Ang mohs started leaving.
Hong Kongers are Increasingly Getting Their Shopping Done in Shenzhen
Mia Fan
- 4:06 PM HKT, Wed April 10, 2024
Lured by cheaper prices, Hong Kongers are flocking to their northern neighbor, especially during public holidays
Over the recent Easter holiday, more than a million departures were recorded between Hong Kong and the neighboring city of Shenzhen. The Luohu Port of Entry has become the top choice of destination for Hong Kong visitors traveling to the Chinese mainland, due to its convenient connections with Hong Kong’s metro system.
In an interview with TVB News on Mar 29th, Hong Kong residents shared various reasons for visiting mainland. One Mr. Lai expressed his desire for quicker passage through the port to reunite with his family. Meanwhile, others were more drawn to making everyday purchases in Shenzhen, often returning with suitcases full of goods bought there. The lower prices in Shenzhen, attributed to cheaper rent and lower taxes, make it an attractive shopping destination.
The trend of Hong Kongers heading north reflects the economic challenges facing the city. Three years of import and export regulations have led to a loss of foreign investment and deflation, reducing the purchasing power of locals. Despite the government’s efforts, such as the consumption voucher scheme launched in April 2023, travelers continue to seek better deals in Shenzhen. RADII spoke to Hong Kong residents who are even willing to carry up to 10 kilograms of groceries back home from bulk-buy stores in Shenzhen such as Sam’s Club, where prices are 10 percent cheaper than in Hong Kong.
These trips may have negative implications for the Hong Kong economy. Data from the Hong Kong dining guide website Open Rice reveals that over a thousand restaurants closed between September and November 2023. Hong Kong businesses face the challenge of competing with rapidly evolving brands in the mainland while maintaining standards, despite higher prices.
In the meantime, Shenzhen continues to offer tempting attractions for Hong Kong residents, encouraging the Special Administrative Region to search for innovative solutions to sustain its competitiveness in the face of changing consumer behaviors and market dynamics.
SZ is more developed than HK and yet cheaper.
JB is just cheap.
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