Sales of hard-luxury goods in Hong Kong grew in November as consumer confidence received a boost from sustained economic growth.
Revenue from jewelry, watches, clocks and valuable gifts gained 3.6% to HKD 4.64 billion ($595.5 million) for the month, the municipality’s Census and Statistics Department report last week. The improvement represented the seventh consecutive month luxury had advanced. The performance was likely due to strong inbound tourism and stronger margins on gold products as prices continue to climb. Sales across all retail categories climbed 7% to HKD 33.73 billion ($4.33 billion).
“Retail sales sustained [their] recovery momentum in November,” a government spokesperson commented. “The value of total retail sales increased notably further… over a year earlier. Sales of many broad retail outlet types increased. Looking ahead, the gradual improvement in local consumption sentiment amid sustained economic growth, coupled with the vibrant growth in inbound visitors, will continue to benefit retail businesses.”
For the first 11 months of 2025, hard-luxury sales increased 0.7% to HKD 47.01 billion ($6.03 billion). Sales in all retail categories improved 0.4% to HKD 345.43 billion ($44.33 billion) for the period.
John Bassett