Bloomberg Businessweek - USA (2020-01-27)

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THEBOTTOMLINE HongKongis losingChineseshoppersas
mainland cities add stores and tourists are reluctant to visit after the
democracy protests.

thecity’sfutureasa touristmeccabecauseofa
litanyofotherattractions,includingitsmoun-
tainsandbeaches,top-flightrestaurants,and
longhistory as a cultural bridge between East and
West. “Shopping is still important, but it’s part of a
moreholistictravelexperience,”shesays.
For struggling retailers, the Hong Kong
governmenthas rolledout rentalsupport in
buildings that it owns and urged private landlords
to be sympathetic to merchants’ needs. And even
if Chinese tourists don’t return en masse, Hong
Kong still offers a wider variety of luxury goods
and more reliable consumer products than are
availableinmuchofthemainland.
Daigou—the Mandarin term for shopping
surrogates—say they’re still doing swift business
buying goods in Hong Kong, then selling them to
customersonthemainlandata markup.“When
touristsdon’tdaretocometoHongKong,we
navigateforthem,”saysLiYuan,who’sbeena
daigou for seven years. �Jinshan Hong, with Eric
Lam and Sheridan Prasso
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