Hong Kong retailers see modest improvement as sales dip eases thanks to supermarket products
Government says near-term figures depend on inbound tourism and local consumption sentiment
Hong Kong’s retail sector modestly improved in April as the month’s retail sales dip eased to 7.5 per cent, up from a 9.8 per cent decline in the previous month.
This came after a levelling off in the city’s declining tourist numbers in April, with overall visitor arrivals shrinking to 2.1 per cent from the 4.3 per cent decline in March, according to official figures.
Among the 21 retail categories surveyed by the government, eight recorded growth in April, compared with 10 in March.
The growth was led by commodities in supermarkets, which increased by 2.4 per cent over a year earlier, while sales of medicines and cosmetics improved 1.7 per cent. Food, alcoholic drinks and tobacco also grew 5 per cent on a yearly basis.
However, jewellery, watches and other valuable gifts – usually popular with mainland visitors – plunged by 16.6 per cent. Wearing apparel and commodities in department stores also took a hit, declining 5.9 per cent and 6.8 per cent, respectively.