Hong Kong’s biggest cosmetics chain Sa Sa International (Sa Sa) said last week that year-on-year growth in retail sales in Hong Kong and Macau dropped approximately 1 percent during the Labour Day Holiday from 1 to 3 May 2014, hurt by fewer mainland Chinese tourist arrivals. The year-on-year growth in same store sales fell 5 percent.
According to data recorded by Hong Kong Immigration Department, inbound Mainland China tourist arrivals declined on a year on year basis for the first time during Labour Day Holiday.
"The sales performance is far lower-than-expected, particularly in traditional tourist areas where significant sales decline was recorded. During the period, the total number of transactions recorded a growth of approximately 10 percent, while weaker purchasing power led to a drop of over 10 percent in the total average sales per transaction," said Simon Kwok, Chairman and CEO of the Group.