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Latest news and features on retailing with a particular focus on Hong Kong, mainland China and Asia, covering consumer goods and services, retail strategies, shopping habits, sales results and trends.
Hong Kong has, thankfully, passed on its world crown to New York, but cost of shops is still too high in city recovering from pandemic.
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Return of mainland tourists does not mean business as usual for city retailers, who must think outside the box as circumstances change.
Consumption vouchers may have been well received by the Hong Kong public, but they can only go so far and other prudent financial options are needed.
- The US District Court for Arizona issued preliminary injunctions against some of the defendants between November 20 and 22
- Temu has urged consumers to report fraudulent activities, and use their official websites and apps only
Provisional figures show sales reach HK$33.8 billion, for 11th consecutive month of improvement.
Avenue of Stars runway show by Louis Vuitton, world’s biggest high fashion brand, attracts host of international celebrities to city.
Misconduct in the industry, from fraudulent advertising to misleading pricing, should be addressed and punished, the piece argues, in a sign that government attitude towards the sector may be shifting.
Valued at more than US$60 billion, Shein is expected to become the most valuable China-founded company to go public in the US since Didi Global’s debut in 2021 at a US$68-billion valuation.
The company says it reached the milestone in the second quarter, with most devices sold outside China.
Hong Kong-listed Link Reit opened the newly renovated mall in Guangzhou’s Tianhe district in September, with CEO George Hongchoy denying rumours that the company plans to sell some assets in China.
Finance chief also says tourism services and consumption set to become main drivers of local economy, but ‘need to be consolidated’.
China’s smartphone market saw a 5 per cent bump in sales volume during the Singles’ Day shopping festival, driven by demand for handsets from local tech champion Huawei.
The London-headquartered multibrand luxury retailer will close its doors in March, after deciding to give up its lease for 60,000 sq ft of space in the upscale mall.
Hong Kong’s shop rents are tipped to record one of the biggest increments in the Asia-Pacific region from next year until 2028, according to US-based asset manager PGIM Real Estate.
While risks abound arising from elevated borrowing costs globally, volatile energy prices due to the Israel-Gaza war and China’s uneven recovery, the city state offered a sanguine outlook.
Budget retailer delivered its best quarter so far, with record sales, earnings and store openings, billionaire founder Ye Guofu says.
Hong Kong’s tourist hotspot of Tsim Sha Tsui retained its ranking as the most expensive retail destination in Asia-Pacific, but slipped to third place globally, according to a survey by Cushman & Wakefield.
The National Radio and Television Administration has proposed a range of measures to ‘strengthen and refine management’ of short web dramas, including a sweeping review of each series’ cast, production, marketing and social values.
JD.com CEO Sandy Xu Ran will take over leadership of JD Retail from Xin Lijun, the company announced on Wednesday.
The company has also put on hold its listing plan for supermarket chain Freshippo, a decision that it announced along with its latest quarterly earnings.
China’s retail sales rose in October, year on year, but real estate investment fell again in the first 10 months of the year, with the mixed economic data pointing to an uneven and precarious recovery.
JD.com revenue rose 1.7 per cent to US$34.2 billion in the three months through September amid a price war with Alibaba and PDD.
China’s retail sales and industrial output exceeded expectations in October, but investments disappointed and the property sector remained a weak link, with policies set to remain supportive.
The current production capacity for Huawei’s Mate 60 Pro 5G smartphone cannot meet demand, resulting in wait time for orders of up to three months.
Part of Dior’s skincare line for kids and babies, its new luxury alcohol-free eau de senteur for infants is more expensive than the bestselling Dior Sauvage fragrance for adults
Two of China’s largest e-commerce platforms have reported growth in sales and order volume during the world’s largest shopping festival, but did not disclose exact sales numbers.
China’s e-commerce giants are counting on bargain-basement prices in their Singles’ Day campaigns to woo consumers who are reluctant to spend in the current uncertain economy.
Government economist Adolph Leung warns worsening external environment will continue to affect city’s economic outlook.
Consumers are more cautious after a rough few years thanks to the pandemic, then a cost of living crisis exacerbated by Russia’s invasion of Ukraine.
But business academic Terence Chong warns that Singles’ Day sales will not boost profits of retailers if people opt to buy from mainland Chinese merchants online.
A deepening of food-price deflation saw China’s consumer price index (CPI) fall in October from a year earlier, while the producer price index (PPI) fell for the 13th month in a row.
