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[Brokerage Focus] Goldman Sachs: Hong Kong's Retail Trade had poor performance in November, with sales figures and performance of various categories varying.
Jinwu Financial News | A Goldman Sachs Research Report points out that in November, the value of retail sales in Hong Kong decreased by 0.6% month-on-month after seasonal adjustment, while the retail volume increased by 0.3%. Among major categories, sales of "jewelry, watches, and luxury gifts" saw the largest growth, while durable consumer goods experienced the greatest decline. Year-on-year, the sales value significantly dropped by 73%, which is a noticeable increase in the decline compared to October's -2.8%. In terms of retail sales value, there was a 73% decrease year-on-year in November, with a month-on-month growth of -0.6% after seasonal adjustment by Goldman Sachs, compared to +1.4% in October. The growth in sales value varies across different categories.
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In Hong Kong, the total value of retail trade sales in November 2024 is estimated to be 31.7 billion HKD, a year-on-year decrease of 7.3%.
On January 2, the Census and Statistics Department of the Hong Kong government released the latest sales figures for the Retail Trade.
Outfit brands return to offline to attract customers, still viewing outdoor sports as the key to traffic | Year-end review.
① This year, outfit brands are focusing on the establishment of offline channels, with some accelerating the opening of offline stores; ② Online is facing a traffic bottleneck, with low stock price competition, high return rates, and declining quality leading to a poor online ecosystem; ③ Outdoor sports are still regarded as a high-traffic area, with professionals believing that competition will intensify.
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