According to figures released by the Hong Kong municipality Census and Statistics Department’s data and quoted by Rough & Polished, retail revenues from jewellery, watches, clocks and other valuable gifts were up 23% year-on-year to $452 million in October 2021. “Sales across all product categories rose 12% to $3.94 billion,” according to the report.
From January to October 2021, sales of jewellery, watches, clocks and other valuable gifts went up 29% year-on-year. Sales across all product categories during the period rose 9% to $37.05 billion.
The rise in spending is attributed to “the entrenched economic recovery and disbursement of the second batch of electronic consumption vouchers” as well as “initial stimulus payments of $256, followed by a second installment worth $385 each” in the second half of the year.
