Hongkong: Jewelry Plummeted 22.9% In September, Clothing Fell 12%

According to earlier reports, Hongkong is losing its status as an Asian luxury centre. Compared with the same period last year, the value of jewelry, watches and clocks and precious gifts decreased by 22.9%, clothing (12.3%), and drugs and cosmetics (down 0.6%) in September.

According to the news,

The value of total retail sales in Hongkong in September this year was estimated to be HK $35 billion 200 million, down 6.4% on average, according to the 3 announcement by the statistics office of the HKSAR.

In August this year, the revised estimate of total retail sales value fell by 5.3% compared with the same month last year.

Compared with the same period last year, the total retail sales value in the first nine months of this year dropped by 2.7%.

After deducting the price change period, September

The total sales volume fell by 3.1% year-on-year, or 3.2% more than in August, but the total retail sales in the first nine months of this year increased by 1%.

The value of sales was analysed from high to low. Compared with the same period last year, the value of sales of jewellery, clocks and precious gifts decreased by 22.9%; clothing (down 12.3%); clothing and cosmetics (down by 0.6%); electrical appliances and photographic equipment (down 7.7%); miscellaneous durable consumer goods (down 2%); other unclassified consumer goods (down 9.1%); automotive and automotive parts (down 8.8%); fuel (down 11.8%); furniture and fixtures (fall 1.6%); footwear, related products and other clothing accessories (down 7%); newspapers, stationery and gifts (fall 7%); Chinese medicine (fall); and optician stores (fall), September (September). By retailer's main categories

A spokesman for the HKSAR government said that sales of most retailers were recorded on a year-on-year decline. Retail sales were weak, reflecting the weakness of inbound tourism and, to a certain extent, the impact of stock market volatility on consumption in the summer.

Looking ahead, the short-term performance of retail business is still constrained by the weak performance of inbound tourism and will depend on the impact of the global economic outlook on the future of Hongkong's economy and consumption.

The spokesman said that the government would continue to pay close attention to the performance of retail business and its impact on the overall economy and the employment market.

Fashion retailing is sluggish, and Hongkong is closing down.

Coach announced early closure of the flagship store in central. In early August, tiger Heuer also closed its flagship store in Russell street in Hongkong.

According to earlier reports, Hongkong is losing its status as an Asian luxury centre.

Hongkong has become the most troublesome market for LVMH, Kai Yun group, Hermes and BURBERRY.