||Retailing can be defined as the selling
of goods in small quantities direct to consumers. It includes
the direct purchase of goods from retail warehouses and factory
outlets as well as tele-shopping and e-shopping. It also includes
the provision of services direct to consumers such as personal
services and dining services.
||Based on the shopping preferences of consumers
identified from survey results, a three-tier retail hierarchy
is identified as follows:
|| Territorial Shopping
Centres - these serve the territory as a whole and provide
the greatest variety of high order comparison goods and
retail services. Three such shopping centres are identified
and they are located in Mong Kok, Causeway Bay and Tsim
|| District Shopping
Centres - these are medium sized shopping centres which
serve the population within various districts.
Shopping Centres - these are shopping areas within walking
distance from residential neighbourhoods providing convenience
goods and retail services to the local population.
||For forward planning purposes,
it is sometimes necessary to assess the demand for retail
facilities and two broad approaches are usually adopted
including the econometric modeling approach and the expenditure-based
modeling approach. As these demand assessments require specialist
input, they are normally conducted as part of a special
study in the planning process.
||Flexibility should be exercised
in the application of the broad approach as Government upholds
the view that retail development should be market-driven
and that planning intervention should be kept to the minimum.