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HK retailers welcome initial sell as ‘new normal’ sets in

Faced with tough hurdles amid a manifest decrease in traveller arrivals and sell sales, a sell attention is set to face a “new normal”, distinct in progressing years when a postulated spending of mainland visitors fuelled growth. With some-more retailers and offered centre landlords struggling to boost marketplace share and enhance their reach, vital business meditative and innovative retailing practises could establish that ones are in, and that ones are out.

In such a market, a use of experiential sell has spin increasingly renouned as retailers and landlords recognize a need to offer hands-on, authentic practice that will pull shoppers into their stores or offered centres. The suspicion is to spin offered into a some-more personalised and appealing experience, by giving shoppers a feel or ambience of a products before committing to a squeeze decision.

China sloping to pass US as world’s largest sell marketplace this year

The judgment of experiential sell is not new to a market; yet, retailers and landlords have put a lot some-more suspicion and creativity into this judgment to move about a singular and lovely knowledge to their shoppers. Let’s take a demeanour during some some-more enchanting experiential sell store formats popping adult in and around a city:

Sports/athletic apparel: adidas has recently introduced a new format of flagship store in Causeway Bay which, aside from showcasing their sports collection, comforts a within-store training territory – with giveaway examination courses supposing by a Adidas training academy. The store also comprises a modernise section with changing bedrooms and locker facilities, creation a store rather like a hall for “members”– a initial of a kind in Hong Kong. Such a store format helps to emanate an appealing, memorable, fun and interactive knowledge to customers, highlighting adidas’ efforts in achieving code split and building code loyalty.

Lifestyle products: Drone builder DJI will open a 10,000 sq ft flagship store in Causeway Bay to underline examples of aerial photography and conveniently showcase their products. Focused on patron engagement, a store will capacitate shoppers to see, hold and learn some-more about a products by experiential seminars, seminar and worker associated special events within a flagship store.

Crossover: Not singular to a singular operator, a experiential sell regulation enables many retailers to crossover with others as a means to open adult some-more possibilities and dilate a operation of retailing knowledge on offer. For example, Watsons Glam by STEAM is a recently non-stop hair salon by Watsons – a pharmacist and a hairstylist inside Watsons’ flagship store in Causeway Bay. The salon provides a height for business to knowledge a character change and try-outs of hair caring and styling products endorsed by a veteran stylist before fixation an order.

Food outlets seen as a answer to shrinking sell sales for Hong Kong’s landlords

In another crossover store example, a new HMV flagship store in Causeway Bay turns a paltry knowledge of browsing, perplexing and selling DVD products into a some-more fun and sparkling eventuality – that of an extended dining sourroundings with a restaurant, bar and live song area – HMV Bar Restaurant. The crossover of song and DVD products with a grill and bar has reoriented a offered proceed to a reduction product-centric and many some-more enchanting one.

Pop-up stores: “Blink and we competence skip it” is what creates a inlet of pop-up store many memorable. With a city in a midst of pop-up frenzy, a judgment has been stretched from product brands to a food and libation sector. In a pop-up dining experience, grill operators typically entice renouned abroad restaurants or chefs for a pop-up dining event. Just this summer, The Black Sheep Restaurants group, for instance, collaborated with a Soul Food grill from Bangkok in using a five-day pop-up dining grounds in Soho. The pop-up event, while being an event for Soul Food to exam a waters but committing to a long-term lease, has indeed speedy a Thai user to set adult a permanent grill in Hong Kong, opening this autumn.

Hong Kong sell sales slip 7.7 per cent in Jul notwithstanding upbeat traveller numbers

For sell landlords, a experiential sell judgment means relocating towards a lifestyle-cum-shopping end business model. Those peaceful to try new offered possibilities are set to stay forward in a race. Aside from selecting tenants that can redefine a ubiquitous offered knowledge with artistic concepts, landlords are formulation for some-more innovative events to attract today’s experience-seeking shoppers. For example, IFC Mall has set adult a hand-knitted stadium this summer, named “Harmonic Motion”, to worsen a knowledge of shoppers and their families as they stand and rebound in a enormous net structure hand-knitted by a weave artist. The outcome is that of a melting pot of visual, feeling and cultured interactions, sketch business in and enlivening their comeback.

Looking ahead, experiential sell will continue to be an critical trend in a industry, generally as foe intensifies opposite a flourishing tube of vast scale offered centres in a subsequent 5 years, mostly being located in non-core offered locations such as Tsuen Wan and Tseung Kwan O. In together with a arise in intelligent technology, a new universe of possibilities is going to open adult for both retailers and landlords to make offered a some-more fun and enchanting experience.

Cathie Chung is inhabitant executive of a investigate dialect during JLL