Stacy Shi and Cheng Wong

Flower vendors across Hong Kong are expecting a significant boost in business turnover this year with forecasts of a 20 percent increase as all 15 week-long Lunar New Year fairs opened yesterday.

Many of the stalls feature unique products, including giant panda-themed items.

Vendors at the largest market in Victoria Park - which boasts 391 goods and wet vendors, along with four fast-food stalls - began setting up early.

Wong, a flower vendor with over 20 years' experience at the Victoria Park fair, noted a marked increase in visitor traffic compared to previous years, with customers spending an average of over HK$1,000.

Despite rising delivery fees and costs, which prompted Wong to increase prices by 10 to 20 percent, consumers continue to show a strong willingness to buy.

"We anticipate a 20 to 30 percent surge in business turnover compared to last year," Wong said.

Kwok Choi-tim, owner of Choi Lee Garden, shared with Sing Tao Daily, the sister publication of The Standard, that this year's peach blossoms are blooming on schedule, with customers actively purchasing flowers.

Notably, some bank clients are placing orders worth up to HK$100,000 a year in advance. Yeung Siu-lung, known as the "Orchid King" and owner of Chiba Garden, expects a modest 5 percent increase in sales this year.

He has already received numerous orders and set aside about one-third of his stock for individual, wholesale and corporate clients.

Sunny Lai Wing-chun, chairman of the Hong Kong Wholesale Florist Association, anticipates busier Lunar New Year fairs this year, projecting a sales increase of about 10 percent.

More shopping malls are hosting Lunar New Year markets this year, offering a cost-effective alternative, according to Gary Wan Ho-kan, managing director of EXD Event.

However, the outflow of Hongkongers to the mainland during holidays has dampened optimism among market stall owners regarding visitor numbers and sales.

Registrations for booth spaces have decreased by 20 to 30 percent compared to last year, leading to some markets in less popular malls experiencing only a 60 to 70 percent occupancy rate. He added that business turnover might drop by 30 to 40 percent.

Customers are spending an average of over HK$1,000 on flowers. sing tao

Business is brisk in shopping malls.

Business blooming for LNY flower sellers