Local high-end retailers to win back customers
26/8/2003 13:13
Easier access for locals to travel to Hong Kong starting September
1 is expected to largely boost the Hong Kong retail industry, posing a threat to
local high-end retailers, the Youth Post reported today.
The average money
carried by mainland tourists to Hong Kong is expected to increase from 6,000
yuan per person to 30,000-50,000 yuan.
The booming retail market in Hong
Kong, especially the high-end market, will definitely attract a large number of
local customers, as the commodities with renowned international brands are
usually sold cheaper in Hong Kong than in Shanghai, said an industry
analyst.
Local high-end shopping malls are currently busy reacting to the
challenge.
The Plaza 66, a top-end shopping mall on the Nanjing Road W., is
upgrading its brands currently, with the brands offered on the ground floor the
world's top-rank, on the second-floor renowned international brands, and the
third-floor noted brands in Hong Kong, Macau and the Chinese mainland.
"Plaza 66 will become more attractive for local customers after the brand
upgrading, and will enlarge the number of potential customers," said the
spokesman with Plaza 66.
The Westgate Mall held promotional activities to
celebrate its anniversary several days ago, with 40 percent discounts offered on
some jewelries and watches.
There are nearly one million brands around the
world, while Shanghai only owns one-third of them, or less than 500,000 brands.
Wendy Zhang/ Shanghai Daily news
|
