Hong Kong’s retail sector is navigating evolving challenges due to changing spending habits of mainland tourists. Retailers are observing a shift in the types of goods tourists are purchasing, with a move away from luxury items towards more practical goods.
Shifting Spending Patterns
The retail landscape is being reshaped as mainland tourists adjust their spending. This requires retailers to adapt their strategies to cater to the changing demands.
Key Challenges
- Adapting to new product preferences
- Maintaining profitability with lower average transaction values
- Competing with online retailers
Retailers are exploring various strategies to address these challenges, including diversifying product offerings and enhancing customer service.
