Retail
Hong Kong retail firms brace for more nCov impact
Hong Kong retail firms brace for more nCov impact
Tourist arrivals and retail sales already affected by unrest are tipped to worsen.
Retail sales down 19.4% to $36.2b in December
Jewellery, watches and clocks, and valuable gifts continue to lead the decline.
Hong Kong's retail market to shrink 2.5% in 2020: PwC
Amidst uncertainties, China’s stimulus policies and Sino-US trade negotiations could provide some relief.
Retail sales plunged 23.6% in November
Sales of luxury goods fell 43.5% despite the Christmas season.
PMI plunges to 15-year low in November
Business sentiment was also at its lowest since 2012.
Retail sales plunge 24.3% to $30.1b in October
Luxury items continued to lead declines with a 42.9% drop in sales value.
Patek Philippe's sole Grandmaster Chime in steel crowned as world's most expensive watch
The watch was auctioned for charity at a whopping price of CHF31m.
Causeway Bay remains the world's most expensive shopping street in 2019
Rents in Russell Street can go as high as $2,745 psf per year.
Retailers turn to experiential selling to combat sales slump
Brands are urged to enhance their own mobile platforms in an effort to sustain the connection with customers long after they have left the store.
Retail sales down 18.3% in September
Retail sales are expected to stay weak in the near term as local social incidents continue.
August retail sales plunge in worst performance on record since 1998
Sales crashed 23% in August, worse than that recorded during the Asian Financial Crisis.
Retail sales fall 11.4% to $34.4b in July
Sales of jewellery, watches and clocks, and valuable gifts crashed 24.4% YoY.
Landlords offer rental cuts amidst worsening economy: report
Retail rents in prime areas could fall by as much as 10% in 2019.
Year-end retail sales may fall by up to 8.1% as protests ravage Hong Kong
The sales decline may be even worse than the 2014 Occupy Movement.
Retail sales fall 6.7% to $35.2b in June
Sales will likely be subdued due to the weak economic outlook and ongoing demonstrations.
Luxury retailers halt expansion plans as sales weaken
As a result, non-luxury retailers are moving on in core areas outside Central.
Skyrocketing rents hit Hong Kong retailers hard
Retailers are burdened by leasing costs as high as $20,864 annually.
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