Hongkong'S Retail Market Continues To Be Weak, Leading To Decline In Jewelry Prices

In recent years, the domestic luxury market is very depressed. The latest report: Hongkong's retail market is weak, and the retail market in Hongkong continues to be weak.

And so on, especially the decline of expensive products.

Hongkong SAR Government Statistics Department recently announced that Hongkong's total retail sales in April dropped 2.2% compared to the same period last year.

A spokesman for the Hongkong Special Administrative Region government pointed out that the weakness of sales was mainly caused by the decline in sales of jewellery, watches and clocks and precious gifts, reflecting the weakening of visitors' consumption of expensive goods.

This is already

Retail sales fell for second consecutive months.

Data show that Hongkong's total sales value fell by 2.3% in 1-4 months, of which the total retail sales value in April was HK $38 billion, down 2.2% from the same period last year.

The value of jewelry, watches and clocks and precious gifts decreased by 19.5%, while clothing, drugs and cosmetics fell by 5.9% and 3% respectively.

Mai JE hung, chairman of the Retail Management Association, said that the "May 1" holiday made a slight improvement in the retail market, but then there was no sign of a marked recovery in the retail market due to the reduction in weather and visitors.

In the short term, Hongkong's retail market still needs to rely on the growth of inbound tourism.

Hongkong, May, she said.

Still inclined to decline, showing a negative growth of 3%-4%.

In addition, Mai Jeh pointed out that the Middle East respiratory syndrome (MERS) outbreak in South Korea, if the deterioration of the situation will affect the tourism industry in Hongkong, will further crack down on Hongkong's retail industry.