Zhi Tong Cai Jing·2026-02-10 12:17Core Viewpoint - The retail sector in Hong Kong is expected to show a gradual recovery, with a projected growth of 2.4% in total sales value for 2025 compared to 2024, despite challenges in certain retail segments [1] Group 1: Economic Outlook - The Hong Kong economy is showing signs of gradual recovery, with a significant year-on-year increase of 12.3% in outbound tourism for residents in 2025, which is reshaping the overall retail landscape [1] - The ongoing evolution of local residents' cross-border consumption patterns is further influencing the retail market [1] Group 2: Company Performance - The company recorded a total gross merchandise value (GMV) of HKD 84.3 billion in 2025, a slight decrease of 1.7% from HKD 85.8 billion in 2024 [1] - HKTVmall's GMV was HKD 79.8 billion in 2025, down 3.5% from HKD 82.7 billion in 2024 [1] - The fresh food market segment, represented by the street market "即日餸," experienced significant growth, achieving a GMV of HKD 394 million in 2025, up 47.1% from HKD 268 million in 2024 [1] Group 3: Customer Metrics - Despite a challenging retail environment, the number of independent customers for HKTVmall reached a record high of 1.539 million in 2025, compared to 1.519 million in 2024 [1] - The monthly active independent devices for HKTVmall remained stable at approximately 1.6 million in December 2025, showing no significant fluctuations even during the holiday season [2]