The Hongkong Conflict Has Hit The Retail Sector And Added To The Local Retail Share.

The multinational brigade Police Brigade cancelled its arrival in Hong Kong.

Recently, Australia, Japan, Italy, Singapore and other countries have issued targeted to the people.

Travel warnings.

Mainland tourists' willingness to travel to Shenzhen has also declined dramatically. According to mainland media reports, relevant departments in Shenzhen, Shanghai, Kunming and Hainan have announced that they have suspended the endorsement of tour groups to Hong Kong for a week.

This year due to

To strengthen anti-corruption measures, the consumption of mainland tourists in Hongkong is no longer wasteful, especially for the mainland.

The sharp drop in consumption has already had a significant impact on retail sales in Hongkong.

The further proliferation of protests led to the closure of retail outlets in Tongluowan, Tsim Sha Tsui and Mong Kok, which further weakened the desire of mainland customers to come to Hong Kong.

A number of mainland cities also announced the suspension of the endorsement of tour groups to Hongkong, which exacerbated the retail situation in Hong Kong.

Golden Week mainland passenger arrivals dropped 30%

Foreign news reports indicate that the number of mainland tourists in the "eleven Golden Week" has dropped by 30%.

Liang Yaolin, President of Hongkong inbound tourism reception Association, said that the number of mainland tourists dropped by 20%-30% was not surprising. In the past, the number of tour groups dropped from about 40 to 20 to 30.

"For overseas tourists, they do not know much about the protest, but they are worried about whether there will be riots or mass gatherings.

If the situation is unstable, they are worried about the refund policy.

In addition, more and more tourist attractions can be selected for mainland tourists, and Hongkong's attractiveness is no longer the same.

Erwan Rambourg of HSBC's research on luxury goods and sports products says that social and political tensions obviously prevent some people from choosing to come to Hongkong, because obviously there are many other options.

"If you are a wealthy mainland tourist, you may have visited Hongkong for the two or three time, so you have other popular places to go."

He believes that cities such as Korea and Japan will become the main tourist destinations for mainland tourists in the future.

According to the latest retail sales figures released by the census and Statistics Department on Sunday (September 28th), the estimated value of total retail sales in Hongkong in August was 40 billion yuan, up 3.4% from the same month last year. However, sales of luxury goods that had been declining in the past few months did not stop.

Among them, the value of jewelry, watches and clocks and precious gifts sales fell by 6.1% year-on-year, electrical appliances and photographic equipment sales value fell by 10.5%.

Retail sales growth dropped to 5% this year.

Credit Suisse statistics indicate that Hongkong's retail industry is heavily dependent on mainland tourists. They contribute to Hongkong's retail sales of about 1/3 in 2013.

The Hongkong Retail Management Association also announced that the growth rate of retail sales in Hongkong will be reduced from 12% to 5% in 2014, and that the Hang Seng Bank's growth forecast has also been reduced from 13% to 5%.

The total retail sales increased by 11% in 2013.