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A govt spokesman claimed retail gross sales worsened
2019/10/02 14:40
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additional to write-up a double-digit year-on-year drop in July, reflecting the weak regional customer sentiment and major disruptions to inbound tourism and consumption-related actions arising from what he identified as current community social incidents.

He warned the drop would accelerate even further if the protests did not cease, whilst the trade war amongst the world’s two major economies - america and China - had escalated lately.In July, all but supermarkets registered declines in income. Massive ticket products these as jewelry, watches and clocks led the fall, down 24.four per cent with the exact period of time previous yr.

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Annie Tse Yau On-yee, chairwoman of your Hong Kong Retail Management Association, mentioned August’s retail profits would deteriorate even more centered on preliminary opinions from a number of its nine,000 members.She mentioned some members’ gross sales in tourist districts experienced slumped 50 for each cent when those people in parts affected through the protests experienced fared even worse, enduring falls of about 80 per cent.

Tourist locations these types of as Causeway Bay, Wan Chai and Admiralty were being strike by protests together with the household districts of Wong Tai Sin, Sham Shui po, Sheung Shui and Tai po.“They are pessimistic regarding the outlook in September as well,” Tse reported.The association earlier this month urged landlords to halve rents for six months for vendors, but at best just a couple of provided a twenty for every cent slash over a one-off basis, she said.

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