Sales of luxury goods in Hong Kong fell 1.7% year on year in April, an improvement from the previous month’s 3.4% decrease.
Revenue from jewelry, watches clocks and valuable gifts totaled HKD 3.69 billion ($469.9 million) for the month, the municipality’s Census and Statistics Department reported on Monday. Sales across all retail categories were down 2.3% to HKD 28.88 billion ($3.68 billion).
The decline continued to ease in April as the market gradually stabilized, a government spokesperson commented. The municipality saw an upswing even while the Easter holidays occurred later this year, leading to more residents traveling abroad during the month.
Hard-luxury sales declined 10% year on year to HKD 16.4 billion ($2.09 million) for the first four months of 2025. Sales in all categories dropped 6% to HKD 123.73 billion ($15.77 billion) for the same period.
The government’s promotion of tourism and mega events will help stimulate the consumer market, the spokesperson predicted. “Increase in employment earnings and sustained steady growth of the mainland economy will also bolster consumption sentiment,” the government representative continued. “These factors will be supportive to the retail sector, though ongoing changes in consumption patterns and competition among businesses amid the uncertain macroeconomic environment will still pose challenges.”
Image: The Mong Kok shopping district in Hong Kong. (Shutterstock)
