October retail sales value of “eight consecutive liter” up to 37500000000 benefit from the mainland consumer spending power
The retail market in Hong Kong continued to improve. The Census and Statistics Department announced that the retail sales value in October was tentatively estimated to reach 37.5 billion yuan, up 3.9% year-on-year and rising for eight consecutive months, High in the same month. Thanks to the growth of tourists, jewelery and cosmetics recorded a nearly 10% increase. According to the Retail Management Association, Hong Kong has benefited from an increase in the spending power of the middle-class and young people in the Mainland. It is expected that the value of retail sales for the year will increase from two to three percent year-on-year, and by 3 to 4 next year. The increase in this year Two to five per cent of salary.
ten. A Golden Week and Mid-Autumn Festival holiday, driving the retail market in October. The Census and Statistics Department announced that the value of retail sales in October was $ 37.5 billion, up by 3.9% over the same period a year earlier, while that of January-October was up by 1.2%.
Other unclassified food by retail category, dry food and seafood, increased by 14.8% in October, while jewelry, watches and luxury gifts increased by 8.4% in October. Drugs and Cosmetics also increased by 9.9% and clothing and footwear by 6.3%. The chairman of the Retail Management Association, Mr Cheng Wai-hung, believes that Hong Kong will benefit from the stimulus spending during the Golden Week and the Mainland.
Cheng Wai-hung means that the stock market and the property market are booming. Coupled with the continuous growth of visitors to Hong Kong, they feel optimistic about the retail market this year and next. The HKTB announced yesterday that there were 5,277,800 visitor arrivals in October, up by 6.6% from a year earlier. Mainland visitors increased by 8.3% from a year earlier to 4.03 million The number of tourists was 1.24 million, an increase of 1.2% over the previous year. In the first ten months of the year, there were more than 48 million passengers, an increase of 2.7% over the previous year.
Cosmetics rose about 10%
He said retail sales in October amounted to $ 37.5 billion, which was close to $ 37.8 billion at the peak in October 2013. He said that merchants have already started to reduce their prices earlier. They are confident of the retail market from Christmas Day to Lunar New Year. The estimated annual sales value rose by 2-3% over the previous year and rose by 3-4% next year.
As for the import tariffs on some consumer goods lowered in the Mainland, he said that the impact of price reductions is only slightly affected by the two to three percent price impact. The psychological factor that stimulates domestic consumption is greater than the actual factor. In Hong Kong, the market for luxury goods has also picked up and individual brands have seen some growth. Cheng argues that this time is not the return of the mainland Hawker but the improvement of the spending power of mainland middle-aged and young people visiting Hong Kong.
Although the market conditions have improved, some retailers have re-planned to expand their stores. However, Mr Cheng said that due to upward pressure on the rents of shopping malls and shops, businesses are quite cautious. He pointed out that the retail industry is expected to raise his salary by 2% to 5% next year, and most of the members said they would give double pay or bonuses.