Holiday shopping swings up

Finance | Jeannie Tang 21 Feb 2018

Leng Yen-thean, executive director of Wharf Real Estate Investment Co (1997), said Harbour City recorded a average of 210,000 visitors daily during the Lunar New Year holiday - a 9-percent jump from last year.

She declared herself well satisfied with the increase, and not least because the number of visitors was not seriously affected by the cancellation of the fireworks display on Saturday.

Leng also said she was cautiously optimistic about this year's retail market due to the increase in visitors and a weakened Hong Kong dollar.

While most of the visitors to Harbour City have been from the mainland, a clear rise in people from Southeast Asia was also being seen.

Estella Ng Yi-kum, the deputy chairman, chief strategy officer and chief financial office of Tse Sui Luen Jewellery (0417), said sales at the company's shops in Hong Kong and Macau showed single-digit growth during the first three days of the Year of the dog.

She also noted that half of the shoppers were travelers and the rest local customers.

And Chow Sang Sang Jewellery (0116) recorded double-digit growth in sales, which beat predictions. That had been for an increase of around 6 percent.

Lau Hak-bun, director of sales operations, said there had been an increase in prices, but there was also the appreciation of the yuan.

Other visitor numbers included Immigration Department officials reporting there were 527,000 mainlanders arriving in Hong Kong during the four days of the Lunar New Year holiday - a 15-percent increase year on year.



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