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(Hong Kong) How Retail Industry Deal with Challenges in the Future?

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What is the future of shopping malls? How are emerging technologies shaping the future of #Shopping? What are the innovative business models to bring communities and experience to the #ShoppingMall? Is the trend of #NewRetail a threat or an opportunity for shopping malls? More..

These were some of the key questions that we have discussed in the two consecutive forums organized for the management teams of the #HarbourCity – one of the leading shopping malls in Hong Kong as well as the #GreaterBayArea. It was a part of the “Business Innovation in the New Era” program – an #innovation and #technology empowerment training program that I designed, led and organized for #Wharf Group. It includes training, hands-on experiential workshops and fireside chats with experts on #RetailTech#BigData#AI#CustomerEngagement#DesignThinking and more.

The whole #Retail industry is facing big challenges due to the Covid-19. While the industry is seeking for survival, they are also looking for not just technology but also new ways to engage customers, new business models to count not just transactions at the mall but also traffic, new ways to cultivate communities, a new mechanism to monetize experience created for customers and more.

A big #GBA market is in front of us but we are also facing keen competition not just malls in Hong Kong but other competitive malls in the GBA which are relatively more digital savvy and innovative. This unprecendented opportunities and the #SenseOfUrgency to change for competition are driving the industry to do more innovation and certainly digital transformation. It is not an option anymore.

It was a fruitful, insightful and impactful journey for Wharf’s friends and my team. We cannot accomplish this program without the great support from these friends of us. A big thank to the Wharf team. Appreciate the support and effort from Ivan NgAmy IpMatthew ChanMichael ChengVicki AuCK ChanVincent SoKenny ChienPatrick TuRio Chau, Gabriel Lee, Larry PoonEugene HsiaAnvil NgStella KwanAlice SoCandi YeungSamson Lai, and many others behind the scene.

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