Retailers mostly see growth over Golden Week
Retailers mostly see growth over Golden Week
The Retail Management Association says an influx of visitors and fewer locals making outbound trips helped boost sales during the Labour Day Golden Week. File photo: RTHK
The Retail Management Association said on Tuesday most businesses have had a better Labour Day Golden Week compared to a year ago.
The growth in retail sales came as more than 910,000 mainland visitors headed to the SAR during the five-day holiday that concluded on Monday.
Speaking on an RTHK radio programme, chairwoman Annie Yau Tse pointed out that business was slightly better than a normal weekend.
"If we look at local consumption, as mentioned before, there were fewer people making outbound trips compared to the Easter break," she said.
"And of the five-day Golden Week, four of them were public holidays, while there were only three last year.
"So given that there were more public holidays and fewer people leaving Hong Kong, these helped business.
"Also the weather was better compared to last year."
A low base effect from last year, Yau Tse pointed out, also contributed to the growth.
However, she said, the business environment remains difficult, as sales edged down after the first two days of the Golden Week.
Sales of furniture, leisure clothing, eyewear and electronics increased despite these retail segments usually seeing a dip when they showed up in monthly figures, while declines were recorded for shops selling personal care products and food.
Even though mainland tourists usually travel on low budgets, she said, that does not mean that they would not go in for high-priced products as they look for items with high-cost effectiveness.
Yau Tse believes if the multi-entry permits that was restored for Shenzhen residents last year could be expanded to cover more provinces, it would boost the flow of visitors to the SAR.
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