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Hong Kong: People Spent More on Jewelry and Watches in October 2021

From January to October, sales of jewellery, watches and other valuable gifts went up 29%
diamond buyers Hong Kong
Credit: Iris Hortman

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.

 

Hong Kong
Credit: Lewis Tse Pui Lung

 

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.

 

Chow Tai Fook store, Hong Kong
Credit: Michal Gordon Keret

 

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.



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