Hong Kong organiser of brands expo bullish on sales despite retail downturn
Manufacturers' association predicts 10pc growth despite a retail downturn
Although the recent retail and tourism downturn in Hong Kong has cast a shadow over this year's Hong Kong Brands and Products Expo, its organiser is still confident that sales can grow at least 10 per cent on last year's figure.
The Hong Kong Brands and Products Expo, an annual shopping event hosted by the Chinese Manufacturers' Association and now in its 50th edition, opens on Saturday next week at Victoria Park, with participation by more than 400 exhibitors.
READ MORE: Hong Kong retail sales slump by widest margin since January
Association president Eddy Li Sau-hung said the Hong Kong retail market had been mostly dragged down by declining tourist purchases of luxury goods, while event exhibitors mainly sold goods for daily consumption at affordable prices.
"The expo is an event for Hong Kong people," Li said, adding that the support of the local community was important in ensuring "this Hong Kong legacy flourishes".
"Mainland tourists are just a small part of the expo's customers," according to a spokesperson for the association.
Organisers hope to lure customers by offering several valuable items at just HK$1, including washing machines, abalone and luxury frozen food packs. Some items will be sold at discounts of 90 per cent.
The association will also spend HK$4 million on a programme to subsidise social initiatives, including one in which 2,000 elderly people living alone and those with disabilities will be brought to the expo on January 3.
The expo opens from 11am to 10pm until January 4. Entry costs HK$10.
