Vendors at Hong Kong Lunar New Year fair worried over retail slump, bids for stalls weak
Most successful bids for regular dry goods stalls at Victoria Park fair next year below average price from most recent edition
The Food and Environmental Hygiene Department on Wednesday conducted the second round of a three-day auction, putting up for grabs 99 dry goods stalls for the Victoria Park fair, which will be held between January 23 and 29 next year.
Cat Lau, managing director of Wo Hing Loong Food Company, said business would drop by 20 per cent compared with the last edition, adding he felt that the pessimism among retailers was also reflected in the low hammer prices.
“We will keep prices low, hopefully selling a larger volume, with eight packs of candied roast peanuts going for HK$50 [US$6.4] and HK$30 for two packets of ‘dragon’s beard candies’,” he said.
Bidders on Tuesday snapped up four fast food stalls and 175 wet goods stalls, which typically sell flowers. The rest of the 216 dry goods stalls will go under the hammer on Thursday.
The highest price for regular 4.5 square metre stalls stood at HK$30,000, with three going for the starting amount of HK$8,540.
