Image credit: TSL
Hong Kong-based Tse Sui Luen Jewellery (International) Ltd (TSL) will further strengthen its digital strategies to help mitigate the pandemic’s impact on its retail business, as per media reports.
Based on its interim results for the six months ending September 30, 2020, the group recorded a loss of HK$41.6 million compared to a profit of HK$1.6 million during the same period in 2019. Turnover was down 28.7 per cent year on year.
The jewellery retail environment suffered due to a drop in tourists arrival, strict social distancing, soaring gold prices and cancellation of weddings. With TSL’s turnover in Hong Kong and Macau dipping by 62 per cent.
During the pandemic, online shopping became a viable alternative for consumers. To ride on the global online shopping trend, TSL group upped its sales and marketing efforts through online channels and platforms.
The group’s e-commerce platforms registered a 17 per cent growth in turnover during the period. TSL plans to keep on enhancing its online marketing strategies to capitalise on online-to-offline business opportunities moving forward.
TSL is allocating additional resources to its online strategies. It accelerated the launch of its official Hong Kong website, expanded its e-commerce footprint by opening a TSL flagship store on China Merchants Bank online mall and joined several other banks’ online mall platforms.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
