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Sales of hard-luxury goods in Hong Kong rose in April as most categories saw gains and demand improved.
Revenue from jewelry, watches, clocks and valuable gifts improved 20% year on year to HKD 4.41 billion ($562.7 million) for the month, the municipality’s Census and Statistics Department reported Tuesday. This was the 12th consecutive month the luxury segment advanced. Sales across all retail categories increased 9% to HKD 31.35 billion ($4 billion).
The government anticipates steady growth, with a boost from higher inbound tourism and stronger consumer confidence.
“Looking ahead, the retail sector should continue to benefit from ongoing economic expansion,” a government spokesperson said. “The government will stay alert to the downside risk arising from the evolving geopolitical tensions and their possible effects on the local consumption market.”
For the first four months of the year, revenue from hard-luxury products was up 26% to HKD 20.67 billion ($2.64 billion), while sales in all retail categories climbed 11% to HKD 137.68 billion ($17.57 billion).
Image: Causeway Bay shopping area in Hong Kong. (Shutterstock)
