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Li Ka-shing’s ParknShop imports more goods from mainland China as Hongkongers flock to Shenzhen for cheaper goods
- The supermarket chain is trying ‘to save Hong Kong people the trouble of travelling long distances,’ says CK Hutchison chair
- Some 200,000 Hongkongers cross the northwest border on shopping expeditions every weekend, according to an estimate by the city’s chief executive
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The ParknShop supermarket chain is importing more products from mainland China in response to the changing spending habits of Hongkongers who have taken to travelling to Shenzhen and other nearby mainland Chinese cities where they can shop and dine at cheaper prices, according to the chairman of CK Hutchison.
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It comes at a time of slowing retail sales in Hong Kong. They fell 7 per cent in March from a year ago, marking the first decline since the border with mainland China reopened post-Covid in 2023, according to data cited by JLL.
Sales in the supermarket segment dropped 3.4 per cent in the period, the property consultancy added.
“The changes in Hong Kong people’s consumption patterns have brought considerable challenges to Hong Kong’s retail businesses,” said Victor Li Tzar-kuoi during CK Hutchison’s annual general meeting on Thursday. “Our colleagues in the retail division are actively responding by adjusting the product mix of stores.”
CK Hutchison, one of the flagship companies of Hong Kong tycoon Li Ka-shing, owns the grocery chain, which has 250 outlets in Hong Kong and Macau, as well as other supermarkets such as Taste and Fusion under the AS Watson Group, the world’s largest health and beauty retailer.
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ParknShop is trying “to source products from around the world and the mainland and offer discounts so as to save Hong Kong people the trouble of travelling long distances while getting good value for money right here in Hong Kong,” Li said.
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