Hong Kong Malls' Challenge

Retailers are having to switch strategies as spending by tourists declines

Chinese tourists just aren’t spending on luxury brands the same way they used to, and nowhere is that more apparent than in Hong Kong’s shopping malls. At Pacific Place mall, Burberry has reduced its space and there’s now a Pure yoga studio and bar in the location. While visitor arrivals and retail sales are starting to rebound there’s limited upside for landlords in the city as buying habits shift, said Bloomberg Intelligence property analyst Patrick Wong.

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