Friday, 16 June 2017

Blaming Occupy for Closing Shop

Carnegie's in Wan Chai is closing down after 25 years in business
It's been a tough year for restaurants and bars in Hong Kong.

A number of them have closed down, citing rising rents, or the clientele they used to target (ie bankers) are fast becoming extinct.

Reading some of the news articles, the owners of some of these establishments cite the Occupy protests in 2014 severely impacted their businesses, and after the 79-day protest, their customer base never recovered again.

W's Entrecote didn't see customers come back after Occupy
It's really interesting to hear them say that -- it's several of them, not just one or two, and it makes you wonder why that is or how could that even be possible, that it is a lame excuse.

But perhaps the hassle of going to these areas forced patrons to head elsewhere and they found other bars and restaurants to patronize that they felt had better atmosphere, or better value for money, or better food on offer and didn't bother to come back.

So maybe Occupy influenced consumers' habits in where they went to eat and drink,  and also it's capitalism -- if people aren't interested in your products and/or services, they will go elsewhere, leaving you in the dust.
This bar cites road closures during Occupy impacted business

It's even more acute in Hong Kong where overhead costs are so high and profits are razor thin. If you don't have a solid game plan in place that is executed well, nothing can save you.

Some of the places that have recently closed are past their prime, or becoming too old school for millennials who are looking for something more exciting or interesting.

As the saying goes, the only constant is change.

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