Hong Kong people go shopping to the mainland to save money

Avatar of Nick John By Nick John Feb26,2024 #Hong Kong #shopping
Hong Kong people go shopping to the mainland to save money 3
Hong Kong people go shopping to the mainland to save money 3

On recent weekends, Andy Tsui (Hong Kong) has been shopping at high-end shopping malls, singing karaoke at luxury bars and eating Australian red king prawns at a restaurant in Shenzhen (China).

That is also the reason Tsui chose to move from Hong Kong to mainland China to shop.

Tsui is just one of hundreds of thousands of Hong Kongers who travel to Shenzhen every weekend, for dining, shopping and entertainment.

People shop at the duty-free area in Sanya (Hainan, China).

Hong Kong people just think they have found a new place for shopping and entertainment.

In 2018, 51 million mainland visitors visited Hong Kong.

But a few years later, the situation changed.

Eddy Lam (32 years old) came to China because he liked the cuisine here.

Others are attracted by Costco and Sam’s Club – two supermarket chains of American retail giant Walmart.

Hugo Sin (24 years old) often comes here with friends because hotel costs are only a small fraction of those in Hong Kong.

Price is the main reason for this trend.

Data from this city government shows that in December 2023, the cost of purchasing alcoholic beverages and eating out increased by 19% and 3.6% compared to the same period last year.

In contrast, China is struggling with deflation.

The difference is even more obvious when the Hong Kong dollar is pegged to the USD.

Another reason is the emergence of new shopping centers, such as Hainan (China), changing consumer demand and the trend of online shopping after the pandemic, causing the number of Chinese visitors to Hong Kong to decrease sharply, leading to a sharp decrease in the number of Chinese visitors to Hong Kong.

`Chinese tourists to Hong Kong no longer focus on shopping like before the pandemic,` commented high-end shopping center chain Harvey Nichols (UK).

Korsy Lee (39 years old) even thought of a way to make money from this trend.

`80% of my customers are housewives who want to save every penny,` Lee told the WSJ.

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