久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
China
Home / China / GBA focus

Festival aims to rekindle HK's passion for shopping

By WANG YUKE in Hong Kong | China Daily Global | Updated: 2021-09-08 10:09
Share
Share - WeChat

The inaugural Guangdong-Hong Kong-Macao Greater Bay Area Shopping Festival will not only help rekindle Hong Kong consumers' passion for shopping, but also provide opportunities for retailers hoping to establish wider markets through e-commerce, experts said.

The online festival, which began on Sept 2 and runs for three weeks, comes as Hong Kong recovers from the heavy economic blow of the COVID-19 pandemic. Retail sales in Hong Kong totaled $42.11 billion in 2020, a drop of 24.3 percent on the previous year, according to official statistics.

The grim situation is not only associated with a sharp decline in the number of big-spending tourists, but also the dampened enthusiasm of Hong Kong shoppers.

"With preferential policies, including free delivery and 2,000 self-pickup spots in Hong Kong, the festival can in some way overcome the long-lasting logistics obstacles due to border checkpoints' closures," said Bruce Pang, head of macro and strategy research of China Renaissance Securities (Hong Kong).

"It allows mainland people, who would have traveled to Hong Kong for a shopping spree, to do it online. Hong Kong residents can also lay their hands on bargains from mainland merchants without worrying about hassles in delivery."

If the mechanism designed for the festival yields desirable outcomes, it can become a fixture that serves consumers on both sides of the border in the future, Pang said. The 298,000 brands available in the shopping festival are handpicked and well-established.

"Through the festival, Hong Kong consumers will be able to learn more about premium homegrown brands," which they might have missed out on in the past, said Terence Chong Tai-leung, executive director of the Lau Chor Tak Institute of Global Economics and Finance at the Chinese University of Hong Kong.

Chong said the festival may inspire Hong Kong retailers and independent shop owners to see mainland e-commerce platforms as a sound alternative to the bricks-and-mortar retail model. "It will enlarge their market, increase their brand recognition and drive up their sales," he said.

The festival also serves as a touchstone for merchants to assess the quality of their products and consumers' preferences said Mark Lee, research director at Asia Pacific Institute for Strategy. "By comparing their own products and services with the brands featured in the festival, they can identify their shortcomings and adapt accordingly to consumers' tastes," Lee said.

He said that mainland consumers today are more discerning and tasteful. "To make their commodities popular with mainland consumers, Hong Kong merchants have to improve their products and refine their service to stand out," Lee said.

Pang said the festival is a new foray into the bay area's regional economy and explores how to achieve "dual circulation", which allows domestic and overseas markets to reinforce each other, with the domestic market as the mainstay.

The vision for dual circulation in the bay area is stressed in the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, which was promulgated by the central government on Monday.

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor welcomed the plan as a vehicle to foster Hong Kong-Shenzhen cooperation at a higher level, under which the two cities can serve as "dual engines" to drive development in the bay area.

The bay area occupies less than 1 percent of China's land area but contributes 12 percent of the country's GDP.

Its year-on-year GDP growth rate was 4.4 percent in 2019, overtaking the San Francisco Bay Area (4 percent) and the Tokyo Bay Area (1.4 percent), which speaks volumes for the region's purchasing demand and capacity, Pang said.

"Guangdong province, hailed as China's 'world factory', has the potential to become China's 'world market'," Pang said.

Hong Kong, an integral part of the bay area, can tap into the region's advantages in dual circulation and capitalize on the mainland's well-developed e-commerce industry to increase the presence and influence of Hong Kong brands, Pang said.

However, both Chong and Lee said that a one-off event cannot dramatically reshape Hong Kong consumers' spending habits on its own. While, it could help locals recover the thrill of the shopping, the effect is likely to be temporary, they said, adding that it should become an annual event.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 国内美女福利视频在线观看网站 | 男人免费看片 | 中文字幕123区 | 欧美中文字幕一区二区三区 | 国产欧美日韩综合精品一区二区 | 国产精品毛片天天看片 | 国产精品精品国产 | 国产精品久久久久久一区二区 | 久久久久久久久性潮 | 日韩精品一区二区在线观看 | 欧美日韩在线观看一区 | 本道久久综合88全国最大色 | 亚洲国产精品线播放 | 欧美成人免费午夜全 | 精品久| 一级做a爰片久久毛片16 | 久久国产成人精品国产成人亚洲 | 日韩一区国产二区欧美三区 | 日b毛片| 精品一区二区视频 | 成人午夜网站 | 免费观看欧美一级牲片一 | 亚洲综合伊人色一区 | 成人免费网站久久久 | 一级做人爱a视频正版免费 一级做性色a爱片久久片 | 99re6热视频精品免费观看 | 亚洲国产精品热久久2022 | 久草国产在线视频 | 女人张开腿让男人捅的视频 | 精品热99 | 久草久热 | 欧美特黄一片aa大片免费看 | 国产精品久久免费视频 | 一本综合久久国产二区 | 女人叉开腿让男人捅 | 亚洲精品一区二区三区在线看 | 午夜视频在线观看一区二区 | 亚洲国产精品专区 | 韩国精品一区二区三区在线观看 | 加勒比一本大道香蕉在线视频 | 国产一区二区中文字幕 |