For the boss of Hong Kong’s largest retail chain – which operates Wellcome, Mannings and 7-Eleven – the key to retaining customers is simple: ensure stores match prices in Shenzhen.
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DFI Retail Group, formerly known as Dairy Farm, has increased the number of countries it imports from to 54 from 26 over the last year, helping to bring prices down by 20 per cent, according to group chief executive Scott Price.
A tie-up six weeks ago with mainland Chinese fresh food platform Dingdong (Cayman) has resulted in 280 Wellcome branches in the city stocking fresh produce from the mainland for as low as HK$5 (63 US cents) for 200 grams.
A HK$5 pack of leafy greens has now become the bestseller at the city’s oldest supermarket chain, boosting sales of assorted vegetables by as much as 40 per cent, according to DFI.
“The strategy is working well because we are seeing our sales volume at Wellcome going up,” Price said in a recent interview with the Post. “People who go north during the weekends or for day trips are no longer bringing groceries back. We are on a journey to bring down the cost of living in Hong Kong. We are going to continue to do that to make Hong Kong a more affordable place to shop for your basic weekly and monthly groceries.”
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