Retail in Asia

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HK shopping malls record bumper new year sales

The cash registers have been ringing loud and fast at Hong Kong shopping centres, with average sales rising 20 percent at the start of the Year of the Snake, thanks to an influx of mainland Chinese tourists.

Elizabeth Kok, the general manager for retail at Swire Properties, said some retailers at the Pacific Place mall in Admiralty recorded double-digit year-on-year sales growth during the Lunar New Year holiday, with the third and fourth day of the public holiday being the busiest.

Sun Hung Kai Properties said sales at its 12 shopping centres saw a year-on-year 15 percent increase to HKD160 million (USD20.6m) in the first five days of the Year of the Snake.

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(Source: scmp.com)