Sun Hung Kai Properties' Yida Department Store announced earlier that some counters will be closed in Sha Tin and Tai Po. Yesterday, SHKP Executive Director Kwok Kei-wang revealed after attending the event that it will open YATA stores at Silicon Hill in Pak Shek Kok, Tai Po and Novo Land in Tuen Mun, stressing that SHKP does not have a "bearish market".
Increase publicity through channels such as Internet celebrities and Xiaohongshu
Kwok Kei-wang pointed out that Hong Kong people have become a general trend to go north for consumption, describing Hong Kong people as "wanting to go out after being trapped for several years", and corresponding to the increase in mainland tourists coming to Hong Kong, although it has not recovered to the pre-epidemic level, but the situation is better than that in 2022, hoping to try to recover and attract more Hong Kong people to stay in Hong Kong for consumption, SHKP shopping malls will also add entertainment, pets, parent-child activities, check-in spots, etc.
As for the promotion of the mainland, Kwok Kei-wang pointed out that the mainland's social media is quite different from Hong Kong, and will increase publicity on Internet celebrities, Xiaohongshu and other channels, describing it as "each with its own strange strategy", believing that the resumption of customs clearance is a good thing, and the future market will also be positive.
As for the adjustment of YAT's business, Kwok Kei-wang pointed out that after several years of the epidemic, customer consumption and behavior patterns have changed, and some YATA stores are mainly adjusting and renovating. He also confirmed that YATA will open branches at Silicon Hill in Pak Shek Kok, Tai Po and Novo Land in Tuen Mun, and announced details shortly.
Advocate the relaxation of the Mainland visitor allowance
Asked about the "Budget" proposal, Kwok Kei-wang pointed out that the Hong Kong government has recently actively faced up to the problem of Hong Kong people staying in Hong Kong for consumption, and Chief Executive Lee Jiachao and Financial Secretary Paul Chan Mo-po have proposed to hold more activities in Hong Kong to attract tourists and Hong Kong people.
As for the policy, he suggested relaxing the tax exemption for mainland visitors to Hong Kong, pointing out that the quota has remained at $5,000 for many years, and it can be increased in due course, "Hong Kong has always been a shopping paradise...
In addition, Sun Hung Kai Properties' integrated shopping mall membership programme "The Point" launched a new "Earn Points" programme and held a kick-off ceremony today. Mr Kwok said that more than 1,400 stores in SHKP's 25 shopping malls, including large food and beverage groups and jewellery chains, have already accumulated more than 100 million points through the five-month trial operation phase, and the number of participating merchants is expected to increase to more than 2,000 by the end of March this year.
The "Earn Points" service is the first large-scale shopping mall network in Hong Kong, including restaurants, clothing, beauty and cosmetics, jewellery and e-catering. Customers can earn Instant Points in one mall and use them in other SHKP malls; Customers can also take a photo of the receipt and upload it to the app, saving time and procedures. Points can be exchanged for cash, free parking, EV fast charging service or gifts.