Many businesses have only just started seeing their fortunes improve after months of lacklustre takings— and now the tough anti-pandemic restrictions are back again. Both the retail and catering sectors reported growth in year-on-year sales during Christmas, and positive sentiment was expected to continue in January and February (which used to be the peak seasons). Now, however, it is rather uncertain……

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Time slips along. The fourth quarter of this year saw Hong Kong’s economy bounce back after being hit by the COVID-19 pandemic for over 20 months. The economic growth forecast has been adjusted upward as the government is slowly relaxing social distancing rules……

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The COVID-19 pandemic turned our world upside down. It disrupted our routines and forced us to stay home while at the same time we learned to innovate when physical meetings were made impossible. Today the world seems to be going back to normal, and we have to be prepared for our post-pandemic life……

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As the coronavirus pandemic rages across the globe, nations are dipping into one of the deepest recessions in years. Similar to the situation in other countries, local businesses across Hong Kong are struggling to stay afloat amidst the major economic downturn and hoping the city will get back on its feet after more than a year of coronavirus conditions.

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Even though the pandemic has changed the way we interact with one another, it has not stopped our enthusiasm. Our institute successfully held the 16th Annual General Meeting (AGM) on 17 Dec 2020. At the AGM, our Chairman Mr. Baldwin Ko expressed his gratitude to the concerted efforts and continued hard work of all the members, while adapting to new working conditions put in place by the board and committee members. Additionally, the board members approved a freezing of the membership fee for the year 2021–2022.

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The Hong Kong Real Estate Management & Services Alliance (HKREMSA) was officially launched on 24 August, with our institute one of the members of the strategic alliance. The memorandum was signed in the presence of the Guest of Honour, Sr Tony TSE Waichuen, BBS and member of the Legislative Council for Architecture, Surveying, Planning and Landscape—along with other honourable guests.

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To cope with the shrinking retail and catering market, the HKSAR government launched their HKD10,000 cash handouts. Our feature story on market updates will walk you through the promotion strategies of malls and industry players.

Despite all the unknowns ahead, Hong Kong people have come up with innovative ideas as usual, and technology has played a crucial role during the citywide spread of COVID-19. Webinars are on offer to replace seminars, and livestreaming by KOLs has been introduced for mall promotions. There are many issues for you to learn about.

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The retail sector has become one of the worst-hit parts of the economy. It is not just people in Hong Kong who are staying away from shops, but also the plunge in inbound travellers leads to the emptiness of all tourist destinations. How would the shopping mall operators as well as the retail and catering businesses struggle to survive during this hard time? We hope you could find some insights from the two features in this issue.

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The world is changing fast than ever. Today shoppers can buy anything at their fingertips. They are looking for more from shopping malls. The days of meeting friends at the mall and shopping all day are gone. Shoppers want an experience, and not just an experience but an experience that wows them. Malls can still be considered a destination only when offer experiences and entertainment that are not found in another malls.

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Exploring new things on the market is one of the highlights of this issue. New shopping malls including K11 MUSEA in Tsim Sha Tsui and V Walk in Nam Cheong for example have brought excitements to shoppers and at the same time keener competitions among the malls themselves. What are the key elements for the next gen's shopping malls? Market Updates may provide with part of the answers. While some foreign international brands have plans to scale down in Hong Kong, we see a number of Japanese brands Don Don Donki, Sushiro and Sukiya are keen on setting foot in Hong Kong. Want to learn more? Don't miss our Focus Feature.

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This issue begins with news that are worth celebrating – 11 tenders showed their support for the Charity Tender session at the ISCM’s 15th Anniversary Annual Dinner held in April, raising a total of HKD 180,000 which will be donated to our beneficiary – Hong Kong Sheng Kung Hui Welfare Council Limited. Besides, the ISCM Greater Bay Area tour was successfully held recently in Guangzhou, providing an eye-opening experience for our participants. This issue also explores the possibilities of launching an all-in-one membership programme for malls under the same roof, allowing more exclusive privileged benefits, loyalty and rewards programmes, for instance, can enhance consumers’ sense of belonging and loyalty. On the other hand, the smartphone app “RED” has successfully drawn attention in the Mainland in terms of its unique one-stop sharing and shopping experience. With over 200m active users, RED has also become a ‘start-making platform’ – creating an ideal online site for launching retail campaigns.

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This is a special edition to celebrate the 15th Anniversary of ISCM. This issue begins with a message from our Chairman Mr. Baldwin Ko on reviewing his joining the Institute as one of the founding members and his taking up the chairmanship in the past 2 years. One of our key missions is to serve as the learning platform for the industry. In light of this, a number of seminars with different topics wer e held from January to April for our members and industry practitioners. Besides, one of our highlight activities in the first quarter was delivering CNY gifts to residents of the On Luk Nursing Centre Limited arranged by our CSR Committee. For the second quarter, the spotlight should be on our 15th Anniversary Annual Dinner to be held on 26 April and here we share with you a prelude. Last but not the least, our issue prepares two feature stories, one on the opening of the first Don Don Donki store in Hong Kong and its insights on the retail market whereas the other examines the recent emergence of kids friendly restaurants. We wish you enjoy reading this issue and look forward to receiving your comments.

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This issue explores how shopping malls combat online stores with delicious and delectable restaurants. In the past, Hong Kong people used to travel to Mainland china to search for sumptuous cuisine, but as the hot pot market gains maturity, more and more prestigious hotpot restaurants such as Liuyishou has expanded their business in Hong Kong. Experts have noted that online shopping undoubtedly has an impact on the retail industry, however, by delivering exceptional culinary and entertainment experiences, it is believed that shopping malls can leverage these irreplaceable advantages and strengthen its competitive edge.

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This issue focuses on the recent surge in shopping centres offering a variety of entertainment, arts and pop trends in ShenZhen. Featuring a distinctive trade mix with an emphasis on customer experience, it is believed that these new-style shopping centres will encourage spending by local youth. With the launch of Express Rail Link, the rise in short-stay travellers will stimulate local retail in Hong Kong. In the long run, experts believe that Hong Kong shopping centres must cater to the actual needs of travellers in order to retain and attract new customers.

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This issue goes in-depth on the developments of Weekend Markets. Organizing weekend markets is definitely a win-win for consumers, market participants and shopping centres. These markets enable shoppers to get in touch with a wide range of products while offering a good physical retail platform for online shop owners to connect with customers offline. As venue provider, shopping centres can also capitalize on the O2O business integration trend to generate extra rental income and look for potential tenants through working with various vendors.

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Recently, a lot of Hong Kong malls are riding on IT and experimenting with virtual spaces to create a digital experiences in order to hold on to customers. This issue explores the immense potential of eSports related promotions in shopping malls, and the reason why there is an increase in eSports competitions, live gaming broadcast and gaming expos being held in shopping malls. Experts noted that malls should beef up their leisure offerings to draw crowds and stimulate in-mall spending. By engaging in new technologies, some key trends in spending patterns can also be identified, allowing malls to create a more customized and convenient experience for shoppers.

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