Hong Kong mall operators target shoppers after government announces distribution of US$638 consumption vouchers
- Mall owners come up with promotions to compete for more than 6.2 million shoppers who will receive e-vouchers worth US$638 each from Thursday
- Last year’s e-voucher scheme, implemented between August and October, boosted retail sales by as much as 12 per cent
Hong Kong’s major mall operators are tempting shoppers with an array of promotions, including discounts of up 70 per cent, after the government announced it would distribute consumption vouchers from Thursday.
The battered retail market is expected to receive a much-needed boost, which has suffered since January because of the harsh social distancing measures to contain the fifth wave of the Covid-19 pandemic fuelled by the Omicron variant.
Sun Hung Kai Properties, Kerry Properties and Sino Land have come up with promotions to compete for 6.2 million shoppers who will receive the first half of this year’s e-vouchers worth HK$5,000 (US$638) each.
SHKP, Hong Kong’s largest developer by market capitalisation, said it would launch the “Consumer Voucher Rewards” campaign at its 12 major shopping malls from April 7 to April 30, while its Yata department stores will offer discounts of up to 70 per cent on electrical appliances and beauty products.
“The new round of electronic consumer coupons will greatly stimulate the public’s consumption desire,” said Fiona Chung, director of sales and leasing at Sun Hung Kai Real Estate Agency.
Chung expects sales at the developer’s malls to grow by double digits in the April to June period and footfall to increase, as Covid-19 cases decline.
Shoppers spending HK$10,000 at SHKP’s malls including East Point City, Park Central and Harbour North stand to receive up to HK$10,000 worth of gifts or cash coupons.
