Hong Kong’s jewellery and luxury goods retail sales dip 26.6 % y-o-y in October

As per the figures announced by Census and Statistics Department on December 1, 2020, Hong Kong's retail sales continued to decline in October.
However, the figures indicated that the dip was at a much softer pace says a report in rttnew.com. The retail sales volume declined 9.3 per cent year-on-year in October, following a 13.3 per cent fall in September. The value of retail sales decreased 8.8 per cent annually in October, following a 12.8 per cent decline in the preceding month.
Meanwhile, the sales value of jewellery, watches and clocks, and valuable gifts declined 26.6 per cent annually in October. Sales of clothing, footwear and allied products fell 10.8 per cent, and those of other consumer goods decreased by 11.1 per cent. Prices for food, alcoholic drinks and tobacco and fuels fell by 6.5 per cent and 3.7 per cent, respectively.
The year-on-year decline in retail sales narrowed in October as consumption sentiment improved amid the stable epidemic situation in that month.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished