SHKP Quarterly

Consumption voucher stimulates retail market Significant rebound in the Group’s shopping mall business performance With the easing of the pandemic in Hong Kong, the relaxation of the social-distancing measures, and the launch of a new round of the Government’s consumption voucher scheme this year, the performance of Hong Kong’s retail market has continuously improved. In light of the latest market situation, the Group has offered targeted loyalty programmes and leveraged Point Dollar, a new payment feature of The Point by SHKP. These measures led to a significant increase in footfall and tenant sales in SHKP malls in April and May. SHKP shopping malls roll out various rewards to stimulate consumption To encourage shoppers to enjoy spending and shopping with consumption vouchers, New Town Plaza and HomeSquare in Sha Tin jointly organized a rewards game with a raft of prizes and distributed mall e-vouchers. MOKO in Mong Kok, YOHO Mall in Yuen Long and Metroplaza in Kwai Fong provided shopping rewards and dining o ers worth HK$15 million, and featured outdoor installations with various themes to attract the public to have fun and take photos. Tsuen Wan Plaza and Uptown Plaza in Tai Po offered rewards worth over HK$2.5 million, and set up a themed market to further boost tra c and stimulate consumption. To embrace the opportunities provided by the consumption vouchers, 15 SHKP malls, including Kwun Tong APM, Tai Po Mega Mall, Causeway Bay World Trade Centre, Tsim Sha Tsui’s The Sun Arcade and Yuen Long Plaza, rolled out a series of benefits in April, including offering a limited "Early Bird Privilege Pass" to members to earn extra Point Dollar. The malls also offered other rewards to increase tra c, including free parking without any spending requirement, double points rewards, dining coupons, a collaborative 3% point rebate offered by malls and banks, HK$10,000 Point Dollar specifically for the member with the highest spend, and up to a 200% rebate. Effective promotional activities boost footfall and merchants sales revenue When the government disbursed the rst phase of consumption vouchers in April, 12 SHKP malls, including East Point City in Tseung Kwan O, Harbour North in North Point, Landmark North in Sheung Shui, Park Central, PopWalk in Tseung Kwan O and Mikiki in San Po Kong, jointly launched a Triple Rewards programme, collaborating with over 200 merchants and offering multiple consumption rewards and Point Dollar. In addition to rewards covering dining, clothing and lifestyle products, members spending with designated electronic payment tools enjoyed up to a 100% rebate. These promotional activities, along with the successive major festivals in April and May, successfully elevated consumer sentiment. V City in Tuen Mun and V Walk in West Kowloon launched a series of consumption voucher reward programmes in early April, offering spending rewards worth over HK$6.8 million, targeting different types of customers. During the specified period, members spending over HK$2,000 in electronic consumption vouchers in one day could redeem the certificates or vouchers of designated malls and merchants worth HK$3,000 to enjoy up to a 150% rebate. Driven by various promotional activities proactively launched by SHKP malls, footfall at the malls returned to the level prior to the fth wave of the pandemic, with satisfactory growth in tenant sales. Point Dollar launched to capture opportunities from the recovered retail market Additionally, The Point by SHKP, which has nearly 2 million members, recently launched a new payment feature, called Point Dollar. Through this feature, members can not only earn points by registering their electronic payment record, but also convert their points to Point Dollar, which can be spent as cash at 25 SHKP malls and over 2,000 merchants. Point Dollar has been well received by members and strongly supported by merchants. When the government disburses the second phase of consumption vouchers in early August, the consumers are expected to continue to use electronic payment tools, which will help popularize the use of Point Dollar. The Group’s malls are planning to launch corresponding promotional programmes to simulate consumption and capture business opportunities. APM YOHO MALL 元朗形點 業務動向 - 香港 Vol 104 • Q2 2022 • SHKP Quarterly 20