Millions of Chinese tourists crossing the border to shop for luxury goods have helped drive the trend. 'It's never been a shopping hub for locals,' says Ms. Mak of the area around H&M. 'It's tourism-driven business.'
到香港购买奢侈品的数百万中国内地游客助推了这一趋势。Mak说,H&M周围的区域从来不是当地人的购物首选场所,这里的生意是靠旅游业带动的。
For many international brands, it's a well-trod path: use a big, glossy storefront inHong Kongto build up brand cachet among mainland visitors, then dive into the mainland market with gusto. But retail momentum in Hong Kong has begun to slow, with the city's May retail sales clocking lows in value and volume not seen since 2010. A number of brands have decided to skip Hong Kong and go straight for Chinese mainland, says Joe Lin, CBRE's senior director of retail services.
许多国际品牌都对这样的过程再熟悉不过了:在香港开设一个大面积精装店面,在内地游客中建立品牌的威望,然后志得意满地进军内地市常但是随着香港零售业的放缓,5月份香港的零售额和销量下降到了2010年以来的最低水平。世邦魏理仕零售服务总监林俊铭说,一些品牌决定绕过香港,直接进军内地市常
'Most of the luxury retailers are pretty conservative right now,' says Mr. Lin. While previously retailers were willing to pay premiums of even 30% above market rate to secure prime locations, says Mr. Lin, compared to even three or four months ago, most are reluctant.
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