Sales of hard-luxury goods in Hong Kong continued to climb in August, reflecting a sustained uptick in digital consumer spending.
Revenue from jewelry, watches, clocks and valuable gifts increased 12% year on year to HKD 5.14 billion ($655.3 million) for the month, the municipality’s Census and Statistics Department reported last week. Sales across all retail segments rose 6% to HKD 30.06 billion ($4.09 billion).
Retail sales improved for the 16th consecutive month, receiving a boost from e-commerce, a government spokesperson said.
“Looking ahead, sustained economic expansion and rising labor earnings should support local consumption sentiment and spending,” the spokesperson said. “Continued growth in visitor arrivals and a series of upcoming mega-events should further inject vibrancy into the retail sector.”
From January to August, revenue from luxury products was up 23% to HKD 41.1 billion ($5.24 billion). Sales across all retail categories advanced 9% to HKD 266.08 billion ($33.91 billion).
Image: Causeway Bay shopping district in Hong Kong. (Shutterstock)
