According to Hong Kong’s Census and Statistics Department, Hong Kong’s jewellery sales dropped drastically in April, despite the markets opened up after COVID-19 threat. With consumer sentiments weak, revenue from luxury goods dipped 77% y-o-y
to $176 mln for April, while sales in all retail categories slid 36% to $3.11 bln.
Revenue from jewellery, watches, clocks and other valuable gifts decreased 66% to $1.22 billion for Q1 2020. Sales in all retail categories dropped $13.88 bln for the same period in the year.
According to the Hong Kong government, the year-on-year decline in retail sales registered a huge decline in April due to the coronavirus disruptions.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
