Hong Kong retailers are joining forces to attract more spending from both local residents and tourists this summer, as the 2025 Hong Kong Shopping Festival officially kicked off on Thursday.

Organized by the Hong Kong Retail Management Association in collaboration with over 5,000 stores, the two-month festival will run from July 1, offering promotions worth a total HK$1.9 billion ($242 million).

Annie Tse Yau On-yee, chairwoman of the Hong Kong Retail Management Association, said at the opening ceremony that participants are from various sectors, covering food and beverage, transportation, accommodation, and exhibitions, and the festival also takes online and offline consumption scenarios into consideration.

READ MORE: HK launches HK$1.2b shopping fest to boost spending

Acting Secretary for Commerce and Economic Development Bernard Chan Pak-li said that the festival is witnessing innovations emerging among local retailers. Many of them are making cross-industry collaborations and integrating cultural and creative elements into products.

Charles Lui, CEO of Fok Hing (HK) Trading, a snack retail company, told China Daily at the sidelines of the opening ceremony that the festival and governmental policies will facilitate business growth, but this summer, he expects his company's turnover will be slightly higher or remain the same, compared with last year.

The reason is that in 2024, the significant growth in the annual turnover made it difficult to meet a similar situation this year, Lui said.

Liu also said the annual turnover of Fok Hing (HK) Trading increased 20 percent last year, while this year, a 10 percent growth would be regarded as a good situation.

In addition, Lui said, cheaper goods such as snacks are selling relatively well, compared with bird’s nest and other luxury goods.

READ MORE: Hong Kong shopping fest to offer HK$1.5b in coupons, gifts

Chan agreed at the ceremony that the retail sector is facing difficult times due to the changing spending patterns among residents and tourists. He pledged to carry out more favorable policies for the retail industry.

Contact the writer at thor_wu@chinadailyhk.com