Hong Kong retail gross sales slide eases
In this article (5)
Hong Kong retail gross sales in April slipped 2.2 per cent on a yr on yr foundation, proof that the decline in retail spending is stabilising.
The Census and Statistics Division (C&SD) says the entire worth of retail gross sales in April 2015 is provisionally estimated at $38 billion. For the primary 4 months of 2015 taken collectively, complete retail gross sales decreased by 2.three per cent in worth in contrast with the identical interval in 2014.
And after netting out the impact of worth modifications over the identical interval, the quantity of complete retail gross sales in April 2015 elevated by 2.four per cent over a yr earlier. The revised estimate of the quantity of complete retail gross sales in March 2015 elevated by zero.eight per cent and for the primary 4 months of 2015 taken collectively, complete gross sales elevated by zero.5 per cent in quantity in contrast.
Retail gross sales efficiency remained subdued in April, primarily dragged by the marked fall within the gross sales of jewelry, watches and clocks and helpful presents, largely reflecting weaker customer spending on big-ticket gadgets. A authorities spokesman stated many different gadgets additionally confirmed sluggish gross sales efficiency.
“But, shops promoting sure shopper sturdy items continued to register notable progress in gross sales and offered some buffer, primarily helped by the launch of sure smartphone fashions,” he stated.
“Jewelry, watches and clocks, and worthwhile presents gross sales decreased by an enormous 19.5 per cent in April in comparison with April 2014.”
“The near-term retail gross sales efficiency will proceed to hinge on inbound tourism progress, though the secure labour market circumstances ought to render help to native shopper sentiment. We have to monitor intently whether or not the current slowdown in retail enterprise, in addition to the varied uncertainties within the exterior surroundings, would have an effect on the native financial system and job creation down the street.
Jewelry, watches and clocks, and worthwhile presents gross sales decreased by an enormous 19.5 per cent in April in comparison with April 2014.
Different declining classes have been attire (down 5.9 per cent in worth); commodities in supermarkets (down zero.9 per cent); medicines and cosmetics (down three per cent); commodities in malls (down three.6 per cent); different shopper items, not elsewhere categorised (down three.7 per cent); fuels (down 12.eight per cent); footwear and equipment (down three per cent); Chinese language medicine and herbs (down 7.7 per cent); and optical outlets (down zero.eight per cent).
In distinction, the worth of gross sales of meals, alcoholic drinks and tobacco elevated by four.2 per cent in April. This was adopted by gross sales of electrical items and photographic gear (up eight.6 per cent in worth); miscellaneous shopper sturdy items (up 97.9 per cent); books, newspapers, stationery and presents (up four.1 per cent); and furnishings and fixtures (up zero.7 per cent).
(Notice: these classes are listed in descending order of complete worth of gross sales; IE: the dimensions of the class).
Extra detailed statistics are given within the Report on Month-to-month Survey of Retail Gross sales which could be downloaded free on the C&SD web site.
Questions & Answers
Q.Which retail categories saw the biggest decline in sales during April?
Which retail categories saw the biggest decline in sales during April?
Sales of jewelry, watches and clocks, and valuable presents decreased by 19.5 per cent. Fuels also saw a significant drop of 12.8 per cent in April.
Q.What contributed to the positive sales performance in some retail sectors?
What contributed to the positive sales performance in some retail sectors?
The launch of new smartphone models helped shops selling consumer durable goods register notable growth. Sales of electrical goods and photographic equipment increased by 8.6 per cent.
Q.How did the volume of retail sales change in April despite the value decrease?
How did the volume of retail sales change in April despite the value decrease?
After adjusting for price changes, the volume of total retail sales in April 2015 increased by 2.4 per cent over the previous year. This indicates more items were sold.
Q.What factors are expected to influence retail sales performance in the near future?
What factors are expected to influence retail sales performance in the near future?
Near-term retail sales will continue to depend on inbound tourism growth. A stable labour market is also expected to support local consumer sentiment.
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