19 November 2018
The Government released September 2018 retail sales figures, with the smallest growth this year at 2.4% year-on-year to HK$36.5 billion.
In general, member companies registered positive growth in sales during the October Golden Week. However, the impact of US-Mainland trade conflicts, RMB devaluation and fluctuations in property and stock market are starting to affect customer sentiment. Members remain cautious about the prospects of growth in the coming months.
Member companies also indicated that there is no immediate boost in sales and customer traffic since the opening of cross-border express rail link and Hong Kong-Zhuhai-Macau Bridge, but they expected a positive impact when these infrastructures become more dominant in the long run. For 2018 as a whole, with the uncertain and slowed down market situation foreseen in the last quarter, the Association forecasts a high single-digit year-on-year growth.
The Association will host our Annual Dinner and Retail Awards Presentation Ceremony on 6 December. We are very pleased that Mr. Paul Chan, the Financial Secretary, will be our Guest of Honour. If you haven't booked your seats yet, please act now.