shopping

How The City’s Retail Witnessed A ‘Christmas’ Miracle, And Why Shopping Malls Aren’t Dying

Amid Hong Kong’s retail sales slump since last year’s social unrest, statistics have not shown favor to the city’s economic conditions, owing to the lack of tourism and continued political economy divide. The Census and Statistics Department revealed the total retail sales for August 2020 declined by 13.1% year-on-year, whereby the first eight months of the year saw a 30.2% negative in sales.

The largest category affected was of food and alcoholic drinks due to the third wave’s social distancing measures and dining regulations, which in effect spurred supermarket sales by 10.8% inspiring an additional uplift of 10.1% in electrical and other consumer durable goods for stay-at-home cooking. 

Yet, retailers and landlords have shown resilience as they had become well accustomed to the inevitable waves of Coronavirus cases causing suspension in several trades.

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