50pc more deals at this year's HK Shopping Festival
50pc more deals at this year's HK Shopping Festival
Annie Yau Tse says it is hard to say how much of a boost the campaign would provide to the retail sector. File photo: RTHK
The chairwoman of the Hong Kong Retail Management Association on Friday said with more shops joining this year's Hong Kong Shopping Festival, local deals could be more attractive than those outside the SAR.
The two-month festival that is held for the third straight year will kick off on July 1.
With more than 180 brands offering freebies and discounts, Annie Yau Tse told an RTHK radio programme that the event aims to encourage people to loosen their purse strings to counter a recent sales slump.
"The total amount of discounts this time is 50 percent more than last year. This year it is worth more than HK$19 billion in total," she said.
"We've got more discounts, and the number of participating shops and brands have gone up by 10 to 20 percent. I believe if the campaign isn't effective, shops won't be so keen to join."
Yau Tse noted that it is inevitable that Hongkongers will leave the region to spend the summer holiday elsewhere during the period, but hopes that the discounts on offer will be a better deal compared with shopping overseas.
But she added it is hard to say how much of a boost the event could provide to the ailing retail sector.
As part of the celebrations to mark the 28th anniversary of the SAR's anniversary, the catering sector will also roll out discounts of up to 29 percent.
Some discounts will only be available on July 1, while discounts at several restaurants will last for a week.
Winston Yeung, chairman of the Hong Kong Federation of Restaurants and Related Trades told the same show that various kinds of eateries have agreed to take part, such as fast-food shops, Chinese restaurants and cafes.
When asked whether the up to 29 percent discounts is enough to encourage people to spend locally, Yeung said it is not an easy comparison, as some food on the mainland costs only one-third of the offerings in Hong Kong.
Yeung added his hope is that the discounts can get residents to spend more than usual.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTHK
4 hours ago
- RTHK
Discounted dining vouchers for seniors return in July
Discounted dining vouchers for seniors return in July The second phase of the Caring Food Coupon Programme will commence in July with a total of 50,000 voucher sets to be distributed. File photo: RTHK The government is bringing back a programme in July that offers discounted dining vouchers to elderly citizens in need, Secretary for Labour and Welfare Chris Sun announced on Friday. The Caring Food Coupon Programme will start its second phase in July, he said, distributing a total of 50,000 voucher sets. Each set will include coupons valid for one meal at each of six participating restaurant chains: Cafe de Coral, Fairwood, Tai Hing, Maxim's, McDonald's and Ngan Lung Restaurant. Sun said this initiative builds on the success of its first phase, which ran this year. "Based on the last time when we provided lunch coupons to the elderly, the actual usage rate is around 76 percent, but it varies among different restaurant chains," he said. "We are going to observe [the usage rate] this time as well. "We are going to step up promotional efforts, and as elderly users are getting used to obtaining the coupons and using them, we will see how the usage rate will be this time around." Catering sector lawmaker Tommy Cheung said seniors can enjoy breakfasts at a discounted price of HK$15. "Aside from celebrating the 28th anniversary of the SAR's establishment in July, many businesses want to give breakfast vouchers to our seniors," he said. "Why breakfast vouchers in July? It is because we are worried that it will be too hot in the afternoon, so we want to encourage seniors to get used to going out early for breakfast. "At the same time, we also made an agreement last month to provide afternoon tea vouchers in October for the National Day holiday given that the weather will be cooler."
RTHK
4 hours ago
- RTHK
HK stocks end down after week of strong gains
HK stocks end down after week of strong gains The Hang Seng Index ended for the day down 41.25 points, or 0.17 percent, at 24,284.15. File photo: RTHK Mainland Chinese and Hong Kong stocks edged lower on Friday but posted their strongest weekly gain in nearly two months, led by financial shares, as a ceasefire between Israel and Iran lifted investor sentiment. In Hong Kong, the benchmark Hang Seng Index ended for the day down 41.25 points, or 0.17 percent, at 24,284.15. On the mainland, the benchmark Shanghai Composite Index ended down 0.7 percent to 3,424.23. However, the Shenzhen Component Index closed 0.34 percent higher at 10,378.55. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, also closed higher by 0.47 percent at 2,124.34. Chinese brokerage stocks rallied sharply this week, buoyed by easing global geopolitical tensions and improved investor risk appetite, Morgan Stanley analysts said in a note. Over a six- to 12-month horizon, increased portfolio allocation to China appears likely, supported by improving market fundamentals and growing global investor demand for diversification, they said. Tianfeng Securities jumped up to 10 percent. The CSI 300 Index has risen 2 percent this week, the best weekly gain since May 5, while the Hang Seng Index advanced 3.2 percent, its strongest week since March 3. Onshore financial shares climbed nearly 3 percent this week. The United States has reached an agreement with China on how to expedite rare earth shipments to the United States, a White House official said amid efforts to end a trade war between the world's biggest economies. Shares of Xiaomi surged to a record high on Friday, after the company launched a new electric car model with a strong beat on pre-orders. But this has added pressure on other automakers, with Li Auto and Xpeng down 1.8 percent and 3.2 percent, respectively. Hong Kong's HSCI Materials Index and mainland's Non-Ferrous Metals Index rose 2.4 percent and 1.9 percent, respectively, as non-ferrous metal prices such as copper broadly rallied. (Reuters/Xinhua)
RTHK
4 hours ago
- RTHK
HK 'aims to boost role as Asia's events capital'
HK 'aims to boost role as Asia's events capital' Hong Kong's first-ever Brazilian festival 'Extravaganza! When Brazil Meets Hong Kong' will take place at AIA Vitality Park in Central. Photo: RTHK Financial Secretary Paul Chan said on Friday that Hong Kong is looking to strengthen its role as Asia's events capital by hosting more international events for both residents and tourists. Speaking at the opening ceremony of the city's inaugural Brazilian festival, "Extravaganza! When Brazil Meets Hong Kong," Chan emphasised the need for creativity to enhance the city's appeal. "It requires imagination, innovation and inspiration to make our city even more attractive to tourists and residents," he said. "We need more events like this one and more joint efforts by the business community, including the tourism, catering and retail sectors, to create new experiences for consumers and visitors." Chan noted that beyond concerts and major rugby fixtures, Hong Kong will host top-tier football matches, expressing a keen desire to welcome the Brazilian national team soon. Brazilian deputy consul-general Hervelter de Mattos said the national team would love to play in the SAR, and hopes to see them come in the future. He further highlighted the festival's significance, calling it a "new cultural bridge" benefiting both tourism and the local economy. "It's inevitable that business will also benefit from this situation," de Mattos said. "Most of the consuls general who were here [at the festival] are from countries that share somehow the same kind of energy. "If you see the Philippines, Thailand, Colombia, Spain and others, these are countries also with the same kind of warm culture. It's a good occasion for all of us." Festival founder and CEO Stefan Matzinger expects up to 8,000 visitors daily during the three-day celebration.
