Hong Kong malls bet on Asian Games to boost footfall, tenant sales amid spending shifts

Hong Kong malls are capitalizing on the upcoming Asian Games to attract more shoppers and boost sales for their tenants. Major landlords like Sino Group and Henderson Land Development are expanding their strategies beyond the World Cup, which saw foot traffic and sales increase by 10-15% and double-digit growth, respectively. Bella Chhoa, Sino Group's chief commercial officer, notes that the Asian Games will feature a broader range of sports and a more diverse visitor demographic, prompting the use of athlete-themed displays, promotions, and interactive activities to encourage dwell time and spending.

Roy Ng, research head at Newmark, states that malls must increasingly focus on experiential retail to differentiate themselves from online shopping and other attractions. The Asian Games, set to open in Nagoya, Japan on Saturday and run until October 4, presents an opportunity for malls to convert higher visitor numbers into sales, particularly in neighbourhood areas facing increased competition from Shenzhen, overseas destinations, and online platforms.

Henderson Land Development has also adopted a similar approach, with MCP Central and MCP Discovery malls in Tseung Kwan O planning six sports-related programs, including broadcasts, tournaments, and an indoor dragon boat competition, aiming to boost footfall and drive sales for sportswear, lifestyle, and food and beverage retailers.