Hongkong'S Retail Market Plunged 3.7% In 2015.

Hard luxury is Hongkong 2015. retail The weakest category, the annual sales plunge by 15.6%, including jewellery, watches and clocks and precious gifts; besides, clothing sales also fell by 7.2% year-round, while Baihua's articles dropped by 4.1%; drug and cosmetic sales decreased by 1.9% throughout the year; footwear, related products and their clothing and accessories sold for 4.1% year-round; optical store sales fell 3.6%.

The decline in the above categories is mainly due to the decrease in the number of tourists from mainland China to Hongkong, and the consequent decline in consumption. Especially in the past two years, the mainland Chinese billionaire tourists have been tense about the situation on both sides of Hong Kong and Hongkong. Tourism consumption On the other hand, the strength of the Hong Kong dollar is strong and the euro and yen are weak. Mainland Chinese are more willing to travel and consume in Japan and Europe. The above two markets are better than the Hongkong market in terms of tourism, service attitude and price. Hongkong residents also tend to travel and shop in the above two places.

Contrary to the downturn in fashion and luxury categories, it is possible to rely mainly on the realisation of categories of consumption in Hong Kong. Supermarket sales rose year by year. 1.3%; the value of food, alcoholic beverages and tobacco sales increased by 5.9%; electrical and photographic equipment increased by 3%; miscellaneous consumer durables increased by 16.3%; and auto and auto parts increased by 1.2%.

Including beauty retailer Sasa, many retailers in Hongkong have begun to change their strategy. They changed from the main business of mainland China to Hongkong's local market, and retail stores moved to non core businesses and residential areas. Besides the consumption diversion, the high rent in core retail areas is another reason for the strategy.

By the end of 2015, the luxury market in mainland China was affected by the devaluation of the renminbi, and the Hongkong market became particularly difficult. In December 2015, Hongkong's retail market plummeted. 8.5% to HK $43 billion 700 million, or 7.8% in November. among The sales value of jewellery, watches and clocks and precious gifts decreased by 17%; the value of clothing sales fell by 12.1%; the sales of department stores fell by 12.3%; drugs and cosmetics decreased by 7.5%; footwear, related products and other clothing accessories dropped by 8.7%; glasses The store fell 3.8%.

A government spokesman pointed out that sales in most retailers in December were five year-on-year decline in 2015. In addition to the continued slowdown in the tourism industry, the uncertain economic outlook and the adjustment of the asset market may also weaken the public's desire to consume. Looking ahead, the short-term outlook for retail sales is still constrained by the weak performance of inbound tourism. The negative impact of recent consolidation in the asset market, the adverse global economic outlook and the normalization of the US interest rate should also be closely watched. The government will continue to pay attention to the performance of retail business and its impact on the overall economy and employment market.