Retailers expect ‘golden week’ sales growth, but trade groups warn of modest gains
Some Hong Kong retailers are forecasting double-digit sales growth over the National Day “golden week” holiday, but industry leaders have warned that the expected influx of mainland Chinese visitors may deliver far smaller gains across the sector as tourists remain cautious about spending. The cautious outlook came after authorities estimated that about 1.29 million mainland visitors were…
Hong Kong retailers are anticipating double-digit sales growth during the National Day "golden week" holiday, but trade groups warn that the influx of mainland Chinese visitors may result in modest gains due to cautious spending. Authorities estimate around 1.29 million mainland visitors will arrive between October 1 and 7, with daily arrivals expected to surpass last year's figure by more than 5%.
Retailers are offering discounts, shopping rewards, and events to encourage spending, while hotels hope to capitalize on late bookings. Despite these efforts, cautious consumer sentiment may limit spending per person unless businesses provide particularly attractive discounts. Sasa, a cosmetics retailer, remains optimistic after its Hong Kong sales during the May Day golden week exceeded expectations, anticipating high double-digit growth in footfall and average transaction value.
However, uneven benefits to businesses are evident, with some restaurants experiencing a quiet festival break.
Brief written by urgent.news from South China Morning Post's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
