RAPAPORT. Hong Kong-based retail sales of jewelry and other hard-luxury items were far below pre-pandemic levels in April as tourism remained stagnant.
Revenue from jewelry, watches, clocks and other valuable gifts came to HKD 2.63 billion ($338.6 million) for the month, well short of.
RAPAPORT. Hong Kong-based retail sales of jewelry and other hard-luxury items were far below pre-pandemic levels in April as tourism remained stagnant.
Revenue from jewelry, watches, clocks and other valuable gifts came to HKD 2.63 billion ($338.6 million) for the month, well short of.
Hong Kong Retail Sales Continue Resurgence
RAPAPORT. Hong Kong-based retail sales of jewelry and other hard-luxury items surged in March as Covid-19 restrictions eased and consumer sentiment improved.
Revenue from jewelry, watches, clocks and other valuable gifts rose 81% year on year to HKD 2.98 billion ($384 million) during the month, the municipality’s Census and Statistics Department reported Tuesday. Sales across all retail categories grew 20% to HKD 27.6 billion ($3.55 billion).
A favorable comparison with the same period in 2020, when businesses closed and tourism stopped, also contributed to the sharp jump in sales, a government spokesperson said.
However, while demand is improving, it is still well below the same period two years ago. Sales of jewelry and other luxury items slid 55% compared with March 2019.
Sales of jewelry and other luxury items in Hong Kong slid again in January amid a fourth wave of the coronavirus and a later Lunar New Year.Revenue from jewelry, watches, clocks and other valuable gifts fell 32% year on year to HKD 3.37 billion ($434.3 million) during the month, the.