Financial News
Written by: Xu Shihao
2021-02-02 19:39
The last update date: 2021-02-02 19:39
The government announced that in December last year, the value of total retail sales in Hong Kong fell by 13.2% year-on-year; for the whole year, it fell by 24.3% year-on-year; the provisional estimate of total sales volume fell by 25.5%.
Hong Kong Retail Management Association Chairman Xie Qiu Anyi said in a conference call that the decline in the previous month expanded, mainly due to the fact that although social events continued in December 2019, there were still tourists visiting Hong Kong at that time, which was affected by the high base effect.
As for the approach of the Lunar New Year, Xie Qiu Anyi pointed out that the impact of measures such as restricted gathering orders and business suspension orders, coupled with the reduction of New Year greetings and family gatherings, will drag down gift-giving consumption. Therefore, the members interviewed are pessimistic about the retail market.
The association also passed a questionnaire survey. Some merchants, such as watches, jewelry, health care, etc., estimate that sales will fall by 40% to 60% within the month.
She pointed out that under the continued influence of uncertain factors such as when the fourth wave of the epidemic will end, whether the fourth wave will break out again, and when customs clearance will continue, it is estimated that retail sales in the first half of this year will be flat year-on-year, even if the change is limited to single digits. Rise and fall.
Xie Qiu Anyi said that the industry hopes that the government can introduce the first round of assistance measures such as employment guarantees, rates concessions, and consumer vouchers; also pointed out that under the fourth wave of epidemics, only a few merchants have received rent reductions from owners, and hope that the owners will understand The current situation of the tenants; at present, more than half of the members have reported that they may continue to close stores in the second quarter of this year, with the number ranging from low single-digit to double-digit.
In December last year, the value of total retail sales in Hong Kong fell 13% year-on-year, but for the whole of 2020, it fell by more than 24%
Retail Management Association: If there is no fifth wave of epidemic, retail sales in the first half of the year may be the same as the same period last year
Hong Kong Retail Management Association
