Vendors Express Concerns Over Economic Impact at Victoria Park Lunar New Year Fair

Wednesday, 23 October 2024, 10:36

Victoria Park's Lunar New Year fair is raising concerns among vendors about the economy. With retail slumps impacting business, many worry about sales performance. The Food and Environmental Hygiene Department's auction indicates a downward trend in stall prices, reflecting the broader worries within the business community.
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Vendors Express Concerns Over Economic Impact at Victoria Park Lunar New Year Fair

Vendors Share Concerns at Victoria Park Lunar New Year Fair

Vendors at Hong Kong's largest Lunar New Year fair are increasingly worried about how their businesses will fare amid economic challenges. The Food and Environmental Hygiene Department's recent auction revealed a concerning trend, with successful bids for regular dry goods stalls lagging behind expectations from previous years. As the fair approaches, many vendors express caution regarding their business prospects.

Stall Auctions Reflect Market Sentiment

  • 99 dry goods stalls auctioned with poor bid performance.
  • Average stall prices have significantly dropped compared to the last edition.
  • Food vendor Cat Lau anticipates a 20 percent decline in sales this year.

Vendor Experience Shapes Perspectives

Challenging market conditions have led to the introduction of new, larger dry goods stalls, accommodating vendor feedback. Vendor Chan, who secured two larger stalls, shares his confidence in the fair’s ability to attract crowds despite current economic uncertainties.

  1. Hongkongers traditionally enjoy visiting the fair, contributing to a festive atmosphere.
  2. Vendor May Chung highlights lowest stall prices seen in a decade.
  3. Participant vendors remain hopeful about maintaining sales during the Lunar New Year despite broader economic concerns.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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