Posted by
OzyOS
16 yrs ago
Something that has had me baffled for many years living here.. Why is there no Target, Walmart etc in Hong Kong? Any light to shed on this?
Cheers
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ldavy
16 yrs ago
No idea, but I'm quite glad there is no Walmart. I have no idea what Target is. This is Hong Kong, why should there be shops/businesses the same as those in other countries?
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If we widen the question not to Target and Walmart specifically (they are mainly North American) but to megastores in general, the reason is that such stores are shoved out of the market by the local oligopoly.
The big local companies are mainly owned by 2-3 big players. For example Jardine Matheson owns: Wellcome/Food World, 50% share of Maxim's Catering, Cold Storage Jasons Market Place/Market Place by Jasons, Shop N Save, Giant, Mannings/Guardian. It also operates 7-Eleven and IKEA in Hong Kong and Taiwan. That's a lot of marketplace power to go up against.
When Carrefour (french big supermarket) tried to establish a foothold, Wellcome responded by opening its own superstores and lower prices. Carrefour could not survive.
The only chance for Target or the like is for a local firm to bring them in somehow. Coming in on their own would not be tolerated.
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I heard Spotlight in Megabox closed down. Is this true?
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Makro is even in Bali- but like axptguy says, the big 2 or 3 here i.e. Wellcome and Park & Rob have a duopoly & own the prime sites i.e. near the MTR stations and big housing estates. Free competition my ass. It's a wonder that the likes of Jusco survive even. Look what happened to Carrefour (wah!) and Yaohan.
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