Jewellery sales in Hong Kong dipped 76.6 per cent in April year on year, reflecting continued disruptions in business caused by the pandemic, government data revealed.
From January to April, retail sales of jewellery, watches and clocks, and valuable gifts fell 66.3 per cent compared to the previous year – representing the steepest decline among all retail categories. Overall sales in April meanwhile slid 36.1 per cent compared to 42.1 per cent in March.
In a separate statement, the Hong Kong Retail Management Association said it maintains its forecast of a 30 to 50 per cent drop in retail sales in the first half of 2020.
“Under the threat of the Covid-19 pandemic and social unrest, the retail performance for both May and June are predicted to remain weak,” the association said.
A government spokesman meanwhile commented that while the outbreak has abated in Hong Kong, the retail environment remains challenging, with inbound tourism at a standstill and lacklustre consumption sentiment.