A fierce battle for business has broken out among Hong Kong's removal companies, which are being forced to slash prices by as much as 40 per cent as cash-strapped customers demand top quality for less money.
As the recession continues to bite, consumers who are losing their jobs or having their salaries cut are shifting to cheaper properties within Hong Kong or leaving town altogether, and are shopping around and driving movers' margins to the bone.
Removal industry bosses say prices for moves within Hong Kong are now at crazy levels, while hefty discounts are available on international moves for customers who are increasingly reluctant to accept firms' initial quotes as the last word.
'It always seems to be competitive, but it's much tighter now than usual,' says Crown Worldwide Holdings chairman Jim Thompson.
'I'd guess we're looking at reductions of 15 to 20 per cent on the better times.
'When you squeeze prices to that extent you really have to be efficient and everything has to go right, and at the end of the day, most of us are taking a big hit.'
