Shiu Ling Natalie Yung’s Post

In our latest report, we explore the evolving retail landscape of Hong Kong, as observed by Shiu Ling Natalie Yung, a Hong Kong native and part of our London Design team. During her recent visit to her hometown, Nat was captivated by the city’s rapid digital transformation. Nat's report highlights the growing consumer desire for a sleek fusion of culture and commerce and unpacks the sensory-driven, personalised experiences redefining Hong Kong's retail spaces. Download the full report: https://lnkd.in/ePkAiCvx #apac #hongkongretail #digitalretail #retailexperiencedesign #experientialretail #hongkongretailreport #retailinsights #retailstrategy #brandexperiences #apacretail #experientialretail

Blurring Lines Between Retail and Experiences: Redefining Retail If you had asked me to define retail a decade ago, I could have given you a straightforward answer. Today, it's more complex. The boundaries between hospitality and retail are becoming increasingly indistinct, with experience and technology adding new dimensions to our sector. I recently spent an unforgettable eight days in Taiwan, visiting some of the country's most vibrant cities, Taipei and Kaohsiung. In terms of retail, Taipei stood out, showcasing the best combination of traditional retailers, gastronomy, and entertainment I've ever seen - it was bustling! Taipei's Ximending district demonstrates how high streets can be packed with activity. A simple example: a fancy type of milk coffee drink, prepared live in front of the store, attracted hundreds of people queuing throughout the evening. The Miramar shopping centre in northern Taipei (https://lnkd.in/dX72kWXz) perfectly blends shopping, dining, and entertainment. Its rooftop Ferris wheel, illuminated green in the evening, is visible from afar - an eye-catching landmark offering great views. We had to queue again to enter. An attached gaming center catered to all ages with a wide variety of entertainment options. It was also packed in the evening. Inside the mall, we waited 45 minutes for a table at one of the many restaurants (we chose the one with the shortest waiting time). While waiting, we explored the numerous retail stores in the centre. From an operating perspective, this evolution is incredibly exciting, offering new avenues for value creation. We're already seeing many companies capitalize on this trend, and managers are actively seeking these features in their spaces. We can certainly learn from the APAC region and their approach to combining entertainment, dining, and shopping. While retail is changing and becoming harder to define, it's also becoming more immersive, creative, and dynamic. Both customers and investors are poised to gain much more from it in the years to come. #retail #entertainment #jll #taipei Wu Sherry Josefine Ulrich Anna James Augusto Arrochella Lobo Jessica Jaoui 🎗️ Sarah Hoffmann Agnieszka Kolat

𝗟𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝗶𝘀 𝗸𝗲𝘆, 𝗯𝘂𝘁 𝗶𝘁’𝘀 𝗻𝗼𝘁 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴. #Location in #retail is a hygiene factor—choose the wrong one, and success is unlikely, but even the right spot doesn’t guarantee you’ll thrive. In Hong Kong, more and more retail locations are closing, from stores and supermarkets to cafes and restaurants, even in prime locations.  For me, after living in Asia for 15 years, I’ve gotten very used to online shopping—it’s so convenient that going out to shop isn’t necessary anymore. 🗨️ 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 | It’s the main reason I visit brick-and-mortar stores instead of shopping online. Stores need to offer something more than just products—an #immersive, hands-on experience, whether through product trials or interactive displays, to make the trip worthwhile. 🗨️𝗦𝘁𝗼𝗿𝗲 𝗰𝗼𝗻𝗰𝗲𝗽𝘁 | It’s what sets stores apart, and it’s the reason why some stores thrive even in the same prime location while others don’t. It’s about everything coming together—the look and feel, the product selection, and the service. A strong, cohesive concept is what creates a #memorable shopping experience and keeps customers coming back. Seeing the increasing number of empty retail locations in Hong Kong, I hope this downward spiral can be stopped and doesn’t lead to something like the “Innenstadt-Sterben” seen in German cities. #RetailStrategy #CustomerExperience #HongKong

Trendiest mall in Chengdu, why so? 🇨🇳🛍 Check out COSMO, one of Chengdu’s coolest department stores. This place is a vibrant hub of niche culture, unique fashion and experiences. It’s a great example of how innovative retail can thrive in difficult times. 👇 More below. 🛍 COSMO, once a more traditional department store built in 2007, has been transformed into a trendy, experiential space. It’s filled with local niche brands, quirky stores and decorations. 🛍 Inside COSMO, you’ll find people dressed in  trendy alternative styles, turning the space into a community hangout spot. Even on a Thursday afternoon, it’s bustling with people. 🛍 The continuous content operation keeps COSMO alive and engaging. The space is designed for events like art exhibitions, brand launches, live music, and independent designer showcases. This flexibility attracts a youthful, dynamic consumer market. 🛍 The space uses metal components, plain concrete, and LED screens to create a visually impactful, futuristic consumer scene. This setup allows for a variety of cultural gatherings and collisions. 🛍 The community-centric approach where consumers, brands, and managers form a tight-knit circle. This relationship goes beyond ordinary business and consumer interactions, fostering a sense of belonging. ✔️ Yes, today China's brick-and-mortar stores are seeking innovative changes to attract customers in the digital age. This effort is injecting fresh vitality into offline consumption. ✔️ According to a report by the China Chain Store and Franchise Association, 400 new shopping centres opened in China last year. ✔️ Despite the slow economy, over 60% of surveyed cities saw an increase in convenience stores. ✔️ Physical stores across the country are now focusing on introducing novel consumption scenarios, including ski areas, amusement parks, bookstores and art museums. What’s your take? Is this the future of offline retail? —- #china #retail #ashleytalks Insights via Xinhua, Frame Web ❗️ Finding value in my content? Send me a message to explore tailored insights for your team

Tourists and domestic consumers supported Taipei’s retail sector last year, much of that in physical stores. Read more, in Savills Asian Cities 2H/2023 Taipei Retail Spotlight. http://sav.li/9rp #RetailInvestment #RetailExpansion #RetailTrends #AsianCities

Tourists and domestic consumers supported Taipei’s retail sector last year, much of that in physical stores. Read more, in Savills Asian Cities 2H/2023 Taipei Retail Spotlight. http://sav.li/9rp #RetailInvestment #RetailExpansion #RetailTrends #AsianCities

Thank you, RICS, for inviting me to discuss the current challenges in the retail market alongside other real estate professionals. We are witnessing significant changes affecting retail in Hong Kong, including a struggling local economy that has led to decreased consumer spending. The decline in high-spending mainland visitors and a shift towards travel to Japan and Shenzhen of local residents have further impacted local retail. Additionally, the rise of online shopping, accelerated by the pandemic, and an aging population—where one in five residents is over 65—present new challenges that require adaptation in retail offerings. To enhance the shopping experience, I proposed that shopping centers consider offering guided tours that showcase local cultural communities. These tours can enrich visitors' understanding of the area's history and character, fostering a deeper connection to local culture. Furthermore, I suggested that collaboration with neighboring markets in the Greater Bay Area could lead to joint promotions, benefiting all involved. The Institute of Shopping Centre Management (ISCM) can play a pivotal role in supporting these initiatives, ultimately attracting both local and regional consumers and enhancing the overall shopping experience. RICS #retail #ISCM

🏙️ How brands are leveraging city marketing in China! 🎨 As cities promote themselves to attract people and encourage more activities, brands are also incorporating city life and culture in their marketing strategies. 🎭 Brands are opening pop-up stores to celebrate both the brand and the local culture. In 2023, Louis Vuitton opened "Nóng Hó, Shanghai,” a pop-up space by Shanghai’s oldest waterway. It hosted a wide range of activities, including book clubs, architecture tours, film screenings, cultural talks, and workshops for children. 🤝 Brands are collaborating with others in the same or different industries. For example, to promote its “City Guides,” Louis Vuitton partnered with three popular cafés in downtown Shanghai. 🚶♂️ Citywalks, involving leisurely strolls and contemplative exploration of urban areas, became a very popular lifestyle trend post-Covid. Brands are organizing citywalks to promote consumer engagement and build deeper connections. To learn more about city marketing in China: https://lnkd.in/gRE3CX79. #chinabusiness #Chinainsights #marketinsights #DaxueStories #citymarketing

CBRE’s Asia Pacific Retail Innovation Index reveals that Tokyo, Bangkok, and Seoul are at the forefront of retail innovation, driven by their dynamic domestic retail ecosystems, diverse tourism markets, and vibrant cultural and entertainment offerings. Learn more: https://lnkd.in/gr6MwNQX

🏙️ How brands are leveraging city marketing in China! 🎨 As cities promote themselves to attract people and encourage more activities, brands are also incorporating city life and culture in their marketing strategies. 🎭 Brands are opening pop-up stores to celebrate both the brand and the local culture. In 2023, Louis Vuitton opened "Nóng Hó, Shanghai,” a pop-up space by Shanghai’s oldest waterway. It hosted a wide range of activities, including book clubs, architecture tours, film screenings, cultural talks, and workshops for children. 🤝 Brands are collaborating with others in the same or different industries. For example, to promote its “City Guides,” Louis Vuitton partnered with three popular cafés in downtown Shanghai. 🚶♂️ Citywalks, involving leisurely strolls and contemplative exploration of urban areas, became a very popular lifestyle trend post-Covid. Brands are organizing citywalks to promote consumer engagement and build deeper connections. To learn more about city marketing in China: https://lnkd.in/gvEdccfW. #chinabusiness #Chinainsights #marketinsights #DaxueStories #citymarketing