Retail properties

Hong Kong mall operators report solid visitor numbers and sales growth during Christmas

  • Sun Hung Kai Properties reported 9 million visitors at its 15 major shopping malls during Christmas, a rise of 12 per cent on year
  • Thriving tourism and low unemployment cited as factors in strong retail figures
PUBLISHED : Monday, 31 December, 2018, 8:03am
UPDATED : Monday, 31 December, 2018, 8:18am

Footfall and retail spending at major shopping malls in Hong Kong managed to defy gloomy expectations this holiday season, with initial data pointing to solid year-on-year growth over Christmas, according to mall operators.

Sun Hung Kai Properties (SHKP) reported 9 million visitors at its 15 major shopping malls during the six-day period through December 26, a rise of 12 per cent from last year. Retail spending at the shopping centres during the period totalled HK$230 million (US$29.37 million), a gain of 13 per cent from last year, according to the developer.

“The combination of a stable retail market, low unemployment and thriving tourism has injected positive momentum to Christmas consumption this year,” said Maureen Fung Sau-yim, executive director at SHKP. “Thanks to the creative festive campaigns and multi rewards, the traffic and sales in malls have been buoyant and remain unaffected by online shopping this Christmas.”

The APM shopping centre in Kwun Tong, developed by SHKP, attracted more than 1.9 million visitors during the holiday period, up 15 per cent from last year, while retail sales grew 16 per cent to HK$58 million over the period.

Fung said the uptick in traffic and sales was also boosted by innovative festive activities at the mall, such as the flash mob Christmas musical acrobatics show and the Christmas countdown party headlined by the famed South Korean boy band ONF.

Retail sales were notably strong for fashion accessories, electronics and cosmetics, according to Fung. Popular gift choices included mobile phones and computer tablets, while strong sales were also recorded in cosmetics, gift hampers and jewellery.

The Tai Po Mega Mall, also owned by SHKP, reported 1.3 million shoppers during the holiday period, an increase of 13 per cent over the same period last year, while turnover reached HK$50 million, up 15 per cent.

Meanwhile, the developer’s Yuen Long Plaza drew 750,000 shoppers, up 10 per cent from last year, with turnover of HK$18 million, a 10 per cent rise.

K11 art mall in Tsim Sha Tsui, owned by New World Development, also reported stronger footfall during the holiday season, thanks in part to a new B2 accessway linking it to the MTR.

The Swire-owned Pacific Place shopping centre in Admiralty also reported a positive performance during the holiday season.

Theresa Leung, general manager of Pacific Place attributed the upbeat activity to festive decor and an attractive Christmas sales redemption programme.

“Our Christmas campaign has been very well-received and the festive set-up has been praised by the public,” Leung said.