Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Hong Kong retail sales register decline in May

05 july 2019
Continued global economic uncertainties and the ongoing citizen protests in the city against a proposed extradition bill derailed the retail sector in Hong Kong showing a 1.3% drop in retail sales by value and a 1.7% decline in value terms during the month of May, marking the fourth consecutive monthly decline this year. While sales of jewellery, watches, clocks and other valuable gifts dropped 2.7% year on year, other categories such as apparel, motor vehicles, electrical goods, etc. too recorded a decline. Total retail sales across all categories are now down 1.8% in value terms over the first five months of the year with a 2.2% dip in volume terms, as per media reports.
It is estimated that the outlook for retail sales will continue to be clouded in the near term. The social movement over the extradition bill as well as the US-China trade war would continue to cloud sentiment in the coming weeks. While the outlook for June remained poor, with business expected to be quieter, and that given last year’s high base, there could be a double-digit decline in overall sales. HK retail sales are expected to shrink 5% over 2019 to approximately HKD 460 bln in 2019, as the ongoing Sino-US trade dispute, equity market turbulence continue to affect consumers sentiment and actual spending. Local retail sales and mainland tourist arrivals are expected to continue on a downward trend through the rest of 2019, indicating a slowing consumer market in Hong Kong.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished