Hong Kong's total retail sales in January rose 7% year-on-year, rising for two consecutive months, which was also better than market expectations.
Xie Qiu Anyi, chairman of the Hong Kong Retail Management Association, said that the growth rate in January was within expectations, but overall, due to the impact of the epidemic in the past, the base was low and the growth rate was strong. However, with Hong Kong’s customs clearance to the international and the mainland, it is expected that the retail market will gradually increase. Improve and improve.
She pointed out that the association’s survey shows that the retail business related to tourists continues to improve. Some retailers said that there will be a low double-digit or high double-digit increase, and some even say that the increase has doubled. As for customs clearance, half of the members said that the business " "Mediocre", without significant growth; about 80% of members estimate that it will take at least 9 months or more before the business returns to the level of 2018.
Some owners plan to increase rent after customs clearance
In addition, 90% of the interviewed members said that there is a shortage of manpower at present, and some members also shelved their plans to open branches due to manpower problems, and some even said that manpower problems affect daily operations. Not benefited, expect the government to pay attention.
The survey also pointed out that after customs clearance, more than 70% of the members said that they had received notice from the landlord that they would increase the rent or plan to increase the rent. The increase ranged from 10% to 20%, and some increased by as much as 30%.
As for the government's redistribution of consumption vouchers, Xie Qiu Anyi said that although the amount is relatively small, it is believed to stimulate local consumption. She also believes that after the cancellation of the mask order, it will take time for the public to adapt, and the impact on retail sales is not expected to be too significant.
The value of total retail sales in Hong Kong rose 7% year-on-year in January, sales of traditional Chinese medicine rose by nearly 40% for two consecutive months The retail price of cigarettes is expected to increase to $70 per pack