Hong Kong Retail Report - Business Monitor International - Industry Reports

Hong Kong Retail Report

Hong Kong Retail Report - Business Monitor International - Industry Reports
Hong Kong Retail Report
Published Jul 23, 2016
65 pages — Published Jul 23, 2016
Price US$ 1,295.00  |  Buy this Report Now

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� According to Hong Kong s Census and Statistics Department, during the first five months of ----, total retail sales in the city decreased by --.- compared with the same period in ----. In May, sales contracted by -.- y-o-y, accelerating from -.- y-o-y decline in April ----. Commenting on the results, the department noted that the retail sector suffers from a slowdown in in-bound tourism, cautious local consumer sentiment and external economic headwinds. � Based on the latest report from the real estate services firm Cushman & Wakefield, retail space rents dropped between -.- and -.- quarter-on-quarter q-o-q in Causeway Bay, Tsim Sha Tsui, Central and Mongkok. This pace of decline marked a slight slowdown as compared to Q- ----, when the average rents in these districts dropped by --- q-o-q. ...� In late June ----, US-based technology company Apple launched its fifth outlet in Hong Kong. The new store is located in New Town Plaza, Sha Tin district, is the company s --th retail branch in Greater

...Hong Kong s established reputation as a global city and gateway to Asia will continue to attract large, multinational retailers. Rising incomes and increasing household spending bode well for non-essential purchases. ...By ---- some -- of households will have a net income of USD--,--- or above. Hong Kong s very high rate of urbanisation (--- ) means that for retailers there is a large target market within a small geographic area. Unemployment is structurally low, at only around -.- . Spending in luxury segments is boosted by high local incomes and a significant tourism industry. Hong Kong is a global retailing hub, attracting significant numbers of high-spending tourists.

...BMI View: Retail sales in Hong Kong have been declining for several quarters in a row, mostly on account of declining tourist arrivals from Mainland China. Struggling residential real estate market and poor external demand present additional headwinds, which will continue weighing on Hong Kong s economic and retail sector s performance over the coming year. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Hong Kong Retail Report" Jul 23, 2016. Alacra Store. Oct 25, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hong-Kong-Retail-Report-2026-1506>
Business Monitor International - Industry Reports. (2016). Hong Kong Retail Report Jul 23, 2016. New York, NY: Alacra Store. Retrieved Oct 25, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hong-Kong-Retail-Report-2026-1506>
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