As a cultural strategist, my work takes me across the region as I explore new markets, mine local insights and connect with new consumers. Most recently I was in Seoul, a city voted for four consecutive years by millennial and Gen Z readers of a US-based travel media outlet as their favourite place to visit.
Walking the streets of cool-kid neighbourhoods such as Hannam-dong, Seochon and Seongsu-dong on my usual market visits, I noticed something. Locals and tourists alike were walking around carrying the same five or six shopping bags: Verish, Tamburins, Glowny, Musinsa, Xexymix and Adererror. Then it hit me: these brands that everyone seemed to be buying were all local brands.
Back home in Hong Kong, I decided to embark on the same experiment. Prowling trendy neighbourhoods and shopping hotspots, I scanned shoppers’ bags as an indicator for Hong Kong’s cultural cachet. The results were not surprising: for tourists, royal blue Bakehouse bags were a staple. There were a surprising number of Mannings hauls. Locals were buying a good deal of Muji, Uniqlo, Lululemon and Adidas.
However, my hunch was right. The vast majority of bags I saw being toted around were foil-stamped, glossy luxury paper bags from Chanel, Dior, Hermes, Goyard and Lane Crawford. If the perception of culture, innovation and creativity in retail is a vote we make with our wallets, this dipstick test felt pretty damning for Hong Kong.
There are several factors behind the difference in consumption culture between Seoul and Hong Kong. In Hong Kong, high rents have made it difficult for up-and-coming local brands to scale physically. A consistent inflow of affluent tourism traffic from the mainland has made luxury retail a safe bet for landlords.
A shrinking middle class means even less room for niche, independent brands to find an audience and grow. These circumstances have contributed to making Hong Kong the glittering but ultimately uninspiring shopping destination it is today.
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Fast-fashion retailer H&M to close 2 Hong Kong outlets including flagship store in February
Read the full article at South China Morning Post →
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