In a desperate attempt to attract more shoppers, one mall operator in Hong Kong is now offering close to $1 million worth of vouchers for the entire month of July. Sun Hung Kai announced this week that it will be giving away cash vouchers to lucky shoppers at its various malls in Hong Kong next month, as part of its new promotion to encourage consumer spending.
The company's promotion is the latest in a growing number of gimmicks launched by the stores and malls to encourage spending and entice residents to visit their establishments once again. The coronavirus pandemic and months of civil unrest have caused a massive drop in store and mall visits over the first two quarters of this year. Some companies had been forced to close, while others are struggling to keep afloat. As of today, one in every five shops in the city is still closed to business.
To encourage more visitors to its malls and to avoid losing any more tenants, Sun Hung Kai is preparing to invest a total of HK$7 million or roughly $903,208 in its latest promotions. Shoppers at all of its malls, including the APM in Kwun Tong, the New Town Plaza in Sha Tin, and the Harbour North in North Point, will be eligible to enter the contest.
According to the mall operator, it will be awarding cash vouchers worth HK$10,000 to shoppers that spend the most money at each of its 24 shopping centers across the city. Additionally, Sun Hung Kai will be giving away HK$30 and HK$80 to shoppers that spend at least HK$500 on any one day from June 29 to July 26. The contest will be held at 23 different festival promotions at 12 of its major shopping centers.
One of the company's tenant stated that the promotion should boost spending by at least 10 to 15 percent. Coupled with the recently rolled out government cash aid worth HK$10,000, which was given to each resident, Sun Hung Kai is expecting a surge in traffic and sales throughout its shopping center.
Sun Hung Kai stated that the latest promotion is part of its much larger marketing plan this year, which it has already allocated a budget of HK$60 million. Back in May, the company had held a gift lottery for its shoppers, which it claimed was a massive success as it brought in hundreds of thousands of shoppers to its malls' establishments. During that promotion, the company gave away different gifts, including iPads, smartphones, and HK$1,000 supermarket vouchers.
