The decline in retail sales data in August continued to widen, with jewellery, watches and precious gifts falling by as much as 47%
A front-line salesperson with a jewellery store and an electrical shop has a commission system. A department store employee said that the retail salesman’s commission has fallen by 40% to 50% in recent months. “There are some commissions of several thousand yuan, or zero commission, only a basic salary. He said that compared with the past when the retail market is booming, the commission will account for 30% to 70% of the total labor, such as the new luxury salesman, the basic salary is about 10,000 yuan, and the market commission is up to 10,000 yuan.
There are shops asking for unpaid leave
In the recent months of social instability, inbound passengers have fallen sharply, further dragging down the retail market. Lin Zhizhong, Director General of the Hong Kong Department Store and Commercial Employees Association, said that the commission for the Golden Week can exceed 10,000 yuan. “In the first half of the year, the market was booming. The retail frontline had thought about a salary increase next year, but since June, I have never dared to think about it. He said that many retail outlets have requested unpaid leave, including large department stores. He also pointed out that department stores have begun to “try small" to dismiss some of the logistics staff, such as staff of the personnel department. “I hope that owners can reduce rents and other measures to assist the shops." Operating, do not want to see layoffs."
Liu Kebin, Chairman of the Kowloon Pearl Stone Jade Gold and Silver Jewellery Chamber of Commerce and General Manager of Chow Sang Sang Greater China Operations, said that the commissions of employees in the jewellery industry accounted for one to 30% of the workforce
“The impact is much better in the near future. The impact of commissions such as Causeway Bay in the hardest hit areas can reach 70%. It is two to 30%." He originally expected the Golden Week business to fall by 30% compared with last year. However, more than 20 stores closed the day before, and many stores closed early in the afternoon. “The first day of the Golden Week was a big loss of budget, and the business was more normal. Less than half of the holidays."
Deng Juming, chairman of the Prince Jewellery & Watch Group, said that many branches had to close their doors the day before. It is difficult to predict the decline in business during the Golden Week and the rest of the year. However, the business volume in the past two months has fallen by nearly 60%, mainly due to the significant decrease in the number of mainland visitors. Nearly 80%, I believe that the decline in the remaining months must be greater than in September. He also mentioned that some employees are now voluntarily putting unpaid leave, and in the long run they will consider allowing more employees to take unpaid leave and even close some branches.