Hong Kong Retail

While sales of jewellery and watches have borne the brunt of the downturn this year, other sectors have continued to do surprisingly well.

August 2014

 
  • Retail sales in April and May fell rapidly by 9.8% and 4.1% year-on-year (YoY), mainly due to the ‘gold rush’ during the same period last year.
  • Tourist arrivals during the Labour Day Golden Week dropped 1.7% compared with last year, the first decline since 2003.
  • Sales of luxury products, including fashion, watches and jewellery, have continued to cool.
  • We have noted a rising number of early surrender cases, while vacancy continues to increase in the prime street shop segment, forcing landlords to renew tenancies.
  • Rents in major shopping malls  grew slightly by 1.7% quarter-on-quarter (QoQ).
 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

kamaco Two Exchange Square

+852 2842 4573

 

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