March Sees 3.5% Drop in Hong Kong Retail Sales Amid Consumer Demand Shift

March Sees 3.5% Drop in Hong Kong Retail Sales Amid Consumer Demand Shift

read the original version on: www.retailnews.asia Retail sales in Hong Kong experienced a notable decline in March, dropping by 3.5% year-on-year to a provisional total of HKD 30.1 billion, according to the latest report from the Census and Statistics Department. When adjusted for inflation, the decrease in retail sales volume is even steeper, with a 4.8% drop recorded. Online Sales: A […] The post March Sees 3.5% Drop in Hong Kong Retail Sales …

Hong Kong Luxury Sales Show Continued Improvement Despite Drop

Hong Kong’s retail sales fell in March amid a slowdown in demand for luxury goods in the municipality, although the decline was more moderate than the previous month.  Revenue from jewelry, watches, clocks and valuable gifts slipped 3.9% year on year to HKD 4.06 billion ($524.2 million) for the month, the municipality’s Census and Statistics Department reported last week. In February, hard luxury saw a 13% decrease. Sales across all retail categ…