Insight Report 4 minutes PremiumHong Kong Retail Sales Gain Momentum, Buttressed by Pickup in Tourism Coresight Research May 15, 2018 Executive Summary The value of total retail sales in Hong Kong in March increased by 11.4% year over year, showing signs of momentum picking up after bottoming in 2016, according to the Hong Kong Census and Statistics Department. A breakdown of retail sales by category, reveals that jewelry and cosmetics products, typically popular among tourists, showed the strongest pickup. This resonates with the increase in the number of tourists to Hong Kong in the first quarter of 2018. The decline of the market for Chinese gifting means that Chinese tourists now purchase items primarily for personal use, likely indicating that the pickup in retail sales is on solid ground. We expect this upward trend to continue, and should the favorable conditions persist, we could see the figure break the HK$494 billion annual record set in 2013 in three years. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Earnings Insights 3Q23, Week 5: Burlington and Urban Outfitters Report Solid Results; Kohl’s, Lowe’s and Others See Sales DeclineWeekly US and UK Store Openings and Closures Tracker 2023, Week 26: Walgreens Boots Alliance Drives Closures on Both Sides of the AtlanticJanuary 2023 US Housing Market Indicators: Total Home Sales Fall SharplyAvoidance Up, Activities Down: China Consumer Tracker