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Jewellery sales in Hong Kong fell 69.7 per cent year on year in May but at a slower pace compared to April, latest data from the Census and Statistics Department of Hong Kong revealed.
Sales of jewellery, watches and clocks, and valuable gifts were down 76.7 per cent in April and 75.2 per cent in March as the city’s months-long battle against Covid-19 dampened consumer sentiment and decimated retail businesses. The government has since relaxed social distancing rules, with more and more consumers revisiting shopping districts.
From January to May, jewellery sales sank 67 per cent compared to a year ago, again representing the steepest decline among all retail categories. Overall sales in May were down 32.8 per cent and 34.8 per cent in the first five months of the year.
A government spokesman commented, “Inbound tourism remained at a standstill and job and income conditions were weak. Nonetheless, the decline narrowed further from that in April thanks to the stabilised local epidemic situation and consequential easing of social distancing measures.”