Golden Week jewellery sales sparkle in Macau

2014/10/10

From：Macau Business Daily

The Occupy Central movement in Hong Kong may have scared some Chinese tourists away, leading retail sales in the city to drop, but it did not affect Macau’s retail sales. Jewellery retailer Chao Sang Sang, which has stores in both Macau and Hong Kong, is an example

The sales of local jewellery stores during National Day Golden Week were probably not affected by the pro-democracy Occupy Central movement in Hong Kong, which severely affected Hong Kong’s sales. On the contrary, retailer Chow Sang Sang Holdings International Ltd recorded a 10 percent increase in its sales in Macau. Local retailer Seng Fung Jewellery also claimed that its sales had met expectations, although it served fewer high-end consumers.
Chow Sang Sang Holdings International Ltd. saw sales in its five jewellery stores in Macau rise more than 10 percent during National Day Golden Week, with more than 90 percent of customers hailing from the mainland.
“Shoppers in Macau were more willing to spend compared to those in Hong Kong,” Dennis Lau, director of sales operations for Chow Sang Sang Jewellery Group, said yesterday. “Our Macau sales increase may be partly due to tourists avoiding Hong Kong amid the protests.”
Meanwhile, the executive director of the Group, Winston Chow Wun Sing, claimed yesterday that the sales of his stores in Macau were boosted by the growth of tourists in the city over the holiday, despite sales in Hong Kong being affected by the Occupy Central movement. Its sales in Hong Kong declined some 6 to 8 percent during the period, according to several Hong Kong Chinese news outlets yesterday.
On the other hand, the general manager of local jewellery company Seng Fun Jewellery, Lee Koi Ian, told Business Daily yesterday in a phone interview that the company also saw the flow of customers increase during the holiday, compared to the same period last year.
“High-end consumers, however, decreased by single digits,” Mr. Lei said, conceding that this may partly be due to the anti-graft campaign of the China government, which started to affect high-end business from the beginning of the year.
Meanwhile, the sales of the company’s mass market, according to Mr. Lei, remained flat, compared to last National Day Golden Week; he did not share figures but claimed the company’s performance met expectations.
Business Daily also contacted the Luk Fook Group, which operates jewellery stores in both Macau and Hong Kong. The Group declined to comment on Golden Week sales, saying the information will be released sometime next week.

Copyright@Macau Business Daily