Traditional Markets

Topics: Supermarket, Business, Retailing Pages: 1 (308 words) Published: January 12, 2011
Traditional Markets
Traditional markets include wet markets and mom-and-pop shops. They are widespread throughout the territory. Traditional markets used to account for the lion’s share of food retail. For example, they occupied around 54% of total retail food sales between 1995 and 1997. Yet supermarkets sales have exceeded traditional markets sales since 1998, and the dominating trend of the former is likely to persist and deepen in the future. Despite the growing significance of supermarkets in terms of food retailing, traditional markets remain as key food retail outlets, particularly for seafood, meat and groceries. Wet markets in Hong Kong have changed gradually over the years. The newly built markets are built and managed by the Hong Kong government with air-conditioning, more hygienic and pleasant environment than the old ones. Some, but not all, stalls in wet markets have freezers and chilling equipment, which is necessary to maintain food quality. Mom-and-pop shops around housing estates and schools are ideal retail outlets for drinks and snack foods. Such traditional markets offer small stalls and personal services that many Hong Kong consumers enjoy. Yu Kee, a traditional mom-and-pop shop, which started business in 1990, has expanded to 110 [13] stores spreading all over Hong Kong in recent years. The stores have floor area ranging around 1,500 sq. feet each. They sell mainly processed foods and produce. Most of the food supplies in these shops come from China and South East Asia. While they also import snack foods and drinks from Europe, U.S. foods are not yet on their shelves. The stores feature cheap prices and are after the mass market. [13] Website of Yu Kee

Market Entry Approach
U.S. food exporters must go through local importers or agents that have good distribution networks. Trends in Promotional/Marketing Strategies and Tactics
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