Most of the retail and catering businesses were affected by local social events
However, the local market-oriented supermarkets, people’s livelihood and life-related industries saw a decline in business and became the main force behind the opening of the market.
The weekend demonstrations lasted for several weeks
The most affected is of course the retail and catering business. Due to the escalation of conflicts and inconvenient transportation, individual merchants even have to close their doors and their business has plummeted.
When the number of tourists is greatly reduced, the consumption of locals is reduced, which is unfavorable to all business people
Hong Kong’s retail sales continued to be poor. The total retail sales value index fell by 18.3% year-on-year in September, which was narrower than the previous month’s 22.9%, which was a continuous eight-month decline. Jewellery, watches and clocks and valuable gifts fell by 40.8%, while pharmaceuticals, cosmetics and clothing fell by 21.7% and 26.3% respectively.
However, not all industries are at a disadvantage. In the figures, supermarket goods fell by 2.6%, which was a small drop in many figures. Some local developers talked about their business in the mall, which means that the supermarket business in the mall has not seen a fall of 2%.
Luxury goods, cosmetics and other businesses, mainly from passengers patronage, the number of tourists plummeted, such industries affected by the fastest response, so not only did not expand, but also close the store to reduce losses. In contrast, the supermarkets and daily necessities, which are mainly based on the consumption of the local residents, are reducing the out-of-pocket consumption of the supermarkets. The decline in the supermarket business is slightly or even increased. It also reflects that the public is not without spending power. It is only worried about inconvenience or personal safety. Ning chose to spend in the district, and went to nearby supermarkets to buy daily necessities and food. The related merchants did not shrink in the market, but instead expanded against the market.
Light market expansion
Merchants such as supermarkets and fitness centers need large floors and less renting capacity than other industries. It is difficult to expand at the peak of retail sales. On the contrary, in the current market, the number of shops is increasing, and some are more than 10,000 square feet. Businesses are not affected too much, and these industries can take the opportunity to rent a shop.