King Fook Jewellery Store, Hong Kong Image credit: King Fook
Jewellery sales in Hong Kong this last May fell 69.7 per cent y-o-y, according to the latest data from the Census and Statistics Department of Hong Kong.
Sales of jewellery, watches and clocks, and valuable gifts were down 76.7 per cent in April and 75.2 per cent in March as the city’s months-long battle against Covid-19 dampened consumer sentiment and decimated retail businesses. The government has since relaxed social distancing rules, with more and more consumers revisiting shopping districts.
From January to May, jewellery sales sank 67 per cent compared to a year ago, again representing the steepest decline among all retail categories. Overall sales in May were down 32.8 per cent and 34.8 per cent in the first five months of the year.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
