Friday, December 13, 2019
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Jewellery Sales in Hong Kong Down 47% in August

Jewellery Sales in Hong Kong Down 47% in August

The ongoing pro-democracy protests have hit Hong Kong’s retail sales like never before. For the month of August, the retail sales in Hong Kong have registered the largest year-on-year decline on record.

It is reported that all aspects of trade have been hit,  with the jewelry, watch, clock and valuable gifts category seeing a massive 47 percent decline in August.

According to media reports, department store sales fell 30 percent compared to a year ago with 30-80 percent of the city’s stores closed on October 1 due to city-wide protests that have caused a large decline in tourist numbers and weak local consumption. The Hong Kong Retail Management Association (HKRMA), predicts the results for September to be worse than August.

Mines to Market
the authorMines to Market
Prashant Rathod

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