Jewelry Sales Down 54 per cent in Hong Kong
September 02, 20
(IDEX Online) - Sales of jewelry and other luxury goods in Hong Kong fell by more than half in July, according to new figures.
It was the worst affected sector of all, with a year-on-year decline of 53.7 per cent to $328m.
Sales were hit by the ongoing coronavirus pandemic, a two-week quarantine requirement for tourists from mainland China, and continuing anti-government protests.
Figures for the first half of 2020 show revenue from revenue from jewelry, watches, clocks and other valuable gifts was down by 64 per cent to $2.14 bn.
Total retail sales for all sectors were down 23.1 per cent compared with July 2019, at about $3.41bn, according to data released yesterday by the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government.