April 20, 2022
Hong Kong – retailers saw a mini-boom in business over the Easter holidays, with mega shopping malls reporting a surge in business and foot traffic.
The first-stage distribution of HK$5,000 in the SAR government’s HK$10,000 consumption voucher scheme earlier this month fueled the business boom, said Maureen Fung Sau-yim, executive director of Sun Hung Kai Properties
During the 4-day holidays, which ended on Monday, 15 shopping malls affiliated with Sun Hung Kai Properties saw a 50-percent increase in foot traffic and a 30-percent rise in business compared with a month ago, according to Hong Kong-based newspaper Wen Wei Po. Three other malls owned by Sino Group reported 50-percent, month-on-month growth in business, and a 25-percent surge in the flow of people.
The first-stage distribution of HK$5,000 in the SAR government’s HK$10,000 consumption voucher scheme earlier this month fueled the business boom, said Maureen Fung Sau-yim, executive director of Sun Hung Kai Properties.
The property giant’s 15 shopping malls offered shoppers rebates and rewards totaling HK$10 million.
According to Fung, jewelry and electronic goods shops performed the best. A jewelry shop in Kwun Tong saw its business soar 60 percent, while a shop in Tai Po selling electronic devices enjoyed a 100-percent surge in business in the past month.
Bella Chhoa Peck-lim, Sino Group’s director of asset management, said shops selling shoes, handbags, health and personal-care products, as well as cosmetics, saw the biggest growth in business.
She believes that business and foot traffic will return to normal when the city’s social distancing curbs are eased on April 21.
Many restaurants run by Sino Group have reopened recently and have received dinner bookings, she said.