Shopping in Hong Kong

Shopping in Hong Kong have been categorized from "social activity" to a "serious sport"Fallon, Steve. [2006] (2006) Hong Kong and Macau. Lonely Planet Publishing. ISBN 9812582460] Lui, Tai-Lok. Gordon, Mathews. [2001] (2001) Consuming Hong Kong. HK University Press. ISBN 9622095461.] . It is an important part of the culture and a way of life. Few cities in the world can rival the experience from an economic, business or social standpoint.

History

Hong Kong's culture is very much dominated by consumerism. In the early Colonial Hong Kong period, the territory served as a middleman that sold far more than it consumed. Goods were largely sold via mobile hawker units or independent shops, with the majority of trade, utilities, shipping and manufacturing handled by the Hongs [Genzberger, Christine A. [1994] (1994) Hong Kong Business: The Portable Encyclopedia for Doing Business with Hong Kong. ISBN 0963186477] . The establishment of banks and deposit institutions allowed people to accumulate savings, and expand their personal finance.

With significant manufacturing outputs, the economy turned around in the 1960s, setting the mall trends in motion. One of the first recognized modern shopping centre was Ocean Terminal. Daimaru opened the flood gate of Japanese goods to Hong Kong in 1966. Deng Xiaoping's 1978 Open Door Policy also made Hong Kong the definitive gateway to China. The people's mindset then begin to change from buying necessity to buying luxury.

Food and clothing supplies were always available for sale, but complex goods did not come about until the arrival of major brand name franchises. In the 1970s and 80s, items like air-conditioners, fans and refrigerators were popular items that eased the hot climate. Major increase in consumer spending continued due to the period of explosive economic growthYu Tony Fu-Lai. [1997] (1997) Entrepreneurship and Economic Development of Hong Kong. United Kingdom: Routledge. ISBN 0415162408] . In the late 1970s, one of the first modern shopping development was The Landmark in Central above the MTR station. In 1984 Cityplaza in Taikoo Shing was also redeveloped. A large architectural project at the time was also to connect Ocean Centre to Harbour City shopping mall in Tsim Sha Tsui. The large mall construction movement continued into the 1990s with Pacific Place, Dragon Centre, Time Square, Plaza Hollywood and Festival Walk. Developments also expanded into the New Territories.

hopping Highlights

* Hong Kong is renowned for its cuisine.
* Custom tailors
* The latest models of Japanese and European watches and electronics.
* Hong Kong is the 4th largest exporter of jewelry in the world specializing in Jade and Gold (Chuk Kam).

hopping Locale

Antiques - Upper Lascar Row, Hollywood Road

Video Games (regular or mod) - Wan Chai, Sham Shui Po

Computers - Wan Chai, Sham Shui Po, Tsim Sha Tsui, Causeway Bay, Kowloon

Modern Fashion - Time Square

Leather Goods - Tsim Sha Tsui

Fortune Advice - Wong Tai Sin Temple

Japanese Items - Sogo

Bargain - Stanley, Shenzhen

Jewelry - ???

Cars - Gloucester Road, Hong Kong

Advantage

Economic

Basic items for sale do not include duty, sales tax or import taxesBarber, Nicola. [2004] (2004) Hong Kong. Gareth Stevens Publishing. ISBN 0836851986] . Only specific import goods like alcohol, tobacco, perfumes, cosmetics, cars and petroleum products have taxes associated. For companies, there is a 17.5% corporate tax, which is lower than international standards.

Its proximity to manufacturing plants in China as well as being a free port provide the territory with significant advantages. Large quantities of goods could be manufactured and transported in short periods of time. Imports from Europe, Japan, US and Taiwan also add international flavor to the mix.

Business

Convenience is a given, when most stores are tightly lined up next to one another in proximity. Tsim Sha Tsui alone offer more than 600 stores. Similar statistics can be drawn from Central and numerous other areas. With its balance of international stores, shopping in Hong Kong could essentially mimic shopping around the world. Though shopping selections are based on a wide scope, ranging from the most ancient to the most hi-tech goods.

Businesses are not always catered to high-end wealthy customers, as plenty of bargains attract regular shoppers. Transportation also eases the shopping experience as MTR subway and taxis allow anyone to get around with no preceding geographical knowledge or drivers license.

Other benefits include a mild winter climate during the two most critical shopping seasons in Christmas and Chinese New Year (or Lunar New Year).

ocial

Hong Kong is unique in the sense that the population is fully engaged in two very different languages.Fact|date=July 2008 Having Cantonese derived from the Sino-Tibetan family and English from the Germanic languages family, the territory is capable of communicating with eastern or western shoppers. Merchants will find it handy to open branches in a bilingual territory. While one may argue the proficiency of English in some areas, Hong Kong, Macau and India are the only region on the GDP per capita top 50 with a 50% stake in two very different language families. The law also guarantees both Cantonese and English remain official, so bilingual sales tags and sales people are common, especially in the areas frequented by tourists.

Cultural openness is also an important factor, as Hong Kong is receptive toward selling merchandise regardless of the origin. Government believes in a hands-off policy, and do not censor, restrict or modify. An example is authentic looking toy guns.

Hong Kong is trendy and moves at a hectically fast pace. One can go shopping at a particular place, only to return a few days later to find the store completely rearranged. To survive stores must stay current, not only in merchandise but presentation.

Criticism

In the mix of competition, Hong Kong has a reputation for selling counterfeits and fakes. The mishap of paying for items that turns out to be illegitimate is an ongoing problem. Items from bootleg CDs, clothing brands, watches to software have all been forged. The Hong Kong Tourism Board have introduced a plan to identify shops that offer a reliable service via a 300 page book called "A Guide to Quality Shops and Restaurants". Divisions like ICAC have also taken part in the anti-corruption process. On the contrary, bargain hunting has been a controversial issue since local consumers often seek to buy imitation brand-named goods at well below market price value.

However, in recent years, this problem has shifted to mainland China, where IP laws are not enforced as strongly and prices of these counterfeit products are even lower.

Warranties and return policies vary widely depending on stores. A majority will not allow refund or exchanges if the items have been tampered with.

ee also

* List of shopping centres in Hong Kong
*
* Clothing sizes

External links

* [http://gohongkong.about.com/od/shoppinginhk/a/Topshoptips.htm Tips for Shopping in Hong Kong]
* [http://www.bloomberg.com/markets/currencies/fxc.html Benchmark Currency Rates]
* [http://gohongkong.about.com/od/shoppinginhk/tp/Hong-Kong-Tailors.htm List of Hong Kong Tailors]

References