JoyeeWalker, an outdoor gear specialty store located near Kwun Tong MTR Station, is facing a major challenge due to excessive inventory of hiking shoes. The store, opened by hiking YouTuber Joyee in September 2020, initially saw flourishing business, but the hiking gear market has cooled down in the past year, leading to a struggling situation.
JoyeeWalker primarily focuses on selling hiking shoes, offering various brands including Altra, Topo, Brooks, Scott, and Salomon. However, the heavy discount offered by HOKA has attracted a large number of consumers, resulting in a decline in the sales of other brands. Joyee has attempted to diversify the product offerings by expanding into camping and diving gear, but due to the pressure of excessive stock, further business expansion has been hindered.
In order to clear the inventory, Joyee has been organizing long-term clearance sales, including discounts of half price or even lower. Despite these efforts, the sales of hiking shoes remain sluggish, leaving Joyee feeling hopeless. He admits to selling at a loss, with some shoes costing more than half of their original price, resulting in a loss of HKD 100 to HKD 200 per pair. Joyee acknowledges that he has been struggling to sell at a loss and even feels a loss of dignity.
The lease for JoyeeWalker is expiring in September, and he believes that his business is facing a critical situation. In an attempt to salvage the business, he plans to increase promotional efforts by participating in exhibitions and releasing more online marketing materials. However, Joyee also mentions that regardless of the final outcome, he will not invest too much energy and capital in selling hiking shoes anymore.
The entrepreneur states that regardless of whether he successfully clears the inventory or not, he will learn to let go and explore other opportunities. He acknowledges that he has done his best, and whatever the outcome may be, he will accept it and seek a new direction.
JoyeeWalker is located at Unit 202, Block B, China-America Centre, 15 Hing Yip Street, Kwun Tong. The store operates from Monday to Sunday, 12:00 PM to 8:00 PM, with Thursdays off (except on public holidays).
In summary, JoyeeWalker, the outdoor gear specialty store, is facing the challenge of excessive inventory and needs to clear it quickly to save the business. The store, once full of hope in the hiking gear market, has been impacted by market changes and competition, leading to difficulties. Joyee plans to increase promotional efforts and explore new paths.
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