Hong Kong brand expo opens with HK$1 treats to lure shoppers
Exhibitors face higher costs this year but are confident of making bigger profits
The 47th Hong Kong Brands and Products Expo opens today in Victoria Park, Causeway Bay, with exhibitors saying they are optimistic about trade.
They expect shoppers to be tempted by the many food items on offer for just HK$1.
Katherine Yeung Kam-ying, corporate communications officer for Super Star Group, said that each day her organisation would sell 50 Boston lobsters, each weighing 400 grams, for just HK$1. They retail at HK$196.
"We are optimistic about sales," she said. "We expect profits to rise about 10 per cent as more and more people are coming to the Expo each year."
Many other exhibitors who were offering special discounts or Christmas sale prices said they were confident about business at the event, which promotes Hong Kong products. The expo runs until January 7, with entrance costing HK$10.
Jimmy Ng Wing-ka, vice-president of the Chinese Manufacturers' Association of Hong Kong, which organises the expo, estimated sales would grow by 5 to 10 per cent from HK$600 million last year. Although the cost of renting a booth had gone up by nearly 10 per cent this year because of inflation and the rise in the minimum wage next year, he believed buyers would be tempted by the many HK$1 offers, bargain deals and various giveaways.
There are 400 exhibitors at 880 outdoor booths.
A spokesman for Imperial Bird's Nest, which has put its HK$33.60 chicken essence with cordyceps on sale at HK$1, said profits were expected to go up by 15 to 20 per cent. The special price would only apply to 100 servings in the first week.
People crossing the border from Shenzhen, who were offered single bus trips last year, are being offered return trips in the evening. Speed post services will be extended to people from the mainland and the United States who want to have non-food purchases delivered to their homes.
A record 2.5 million visitors attended the expo last year.