|
| Tuesday, 30 December 2014, 17:15 HKT/SGT | |
| |  | |
Source: HKTDC | |
|
|
|
|
| HKTDC Study Indicates a More Favourable Outlook for 2015 |
HONG KONG, Dec 30, 2014 - (ACN Newswire) - Global Christmas sales for 2014 was somewhat better than last year, according to a Hong Kong Trade Development Council (HKTDC) report that noted varying results around the world.
 | | Holiday Retail Sales Ring in Mixed Results |
In traditional markets, the United States was the forerunner, trailed by the United Kingdom. Moderate sales increases were also posted by Germany and Japan, but declines were noted in France and Italy. Seeing temperate growth were emerging markets such as the Chinese mainland, Latin America, and Central and Eastern Europe, according to the HKTDC, which released its findings today at a press conference.
Overall, consumer conservatism drove sales of well-priced and practical items. By product, consumer electronics were the most popular purchases. Also noted was the growing popularity of e-tailing and how more consumers are using mobile devices and online social networks to find best prices and gather sales information.
Continuing Caution
Retail sales during the Christmas season are a sound indicator of consumer sentiment and preferences, giving a valuable pointer to the retail business in the year ahead. HKTDC Principal Economist (Global Research) Daniel Poon noted that, while an incipient global economic recovery will support consumer consumption, a cautious mood will continue to prevail.
"Value-for-money will therefore remain the most important determinant for most shoppers," said Mr Poon, adding that a fast-expanding proportion of consumers are using the Internet to hunt for bargains.
"As a consequence, most importers and retailers will continue to be conservative, and are expected to play safe in terms of order size, lead time and pricing, while further engaging in e-tailing to buttress sales and diversify their sourcing and manufacturing from the mainland to other production bases throughout the Asian region to lower costs."
While sales to traditional markets will be crucial, Mr Poon suggested that Hong Kong exporters should further seek new business opportunities in emerging markets, although economic prospects are tainted by slackening commodity prices in Latin America and the Russian crisis in Central and Eastern Europe. He added that the mainland, where the government is promoting consumption in addition to stimulus measures introduced to sustain the momentum of the economy, should open up new dimensions for Hong Kong companies. As for specific markets, the HKTDC study said:
United States
- Holiday Sales in the US were up four per cent, year-on-year.
- Retailers extended the sales promotion period and store opening hours to stimulate consumption.
- Instead of lavish spending, Christmas shoppers this year stuck to well-priced and practical gifts.
- Online purchases were popular during this festive season.
- Consumer electronics were among the biggest draws, with smart phones, tablets and wearable technology items topping the list of stocking stuffers. Toys, whether traditional and non-traditional, performed especially well. Discounted high-end apparel items, competitively priced jewellery and upscale timepieces were well received.
European Union
- Reliance on discounts and promotions varied among markets. In Germany and the UK, where consumer sentiment was more positive, price cuts and promotional activities seemed to be less rampant.
- Christmas sales in the UK are expected to have risen by 3 per cent. Consumer electronics were the standout; household electrical appliances and mid-priced watches and jewellery were popular Christmas-sale items.
- Holiday sales in Germany are estimated to have risen by more than 1 per cent. Consumer electronics were among the favoured gifts. Toys, either traditional items or smart models were well received. The appetite for winter gear, however, was affected by unseasonably mild weather.
- Economic conditions in France and Italy have been less favorable, with holiday sales expected to decline from 2013 levels. However, trendy items such as smartphones and tablets were still in demand.
Japan
- Sales are expected to expand by 2 per cent, thanks to wage increases, extensive discounts and promotions against the three percentage point rise in sales tax.
- Consumer electronics, especially smartphones plus 4KTVs, were popular.
- Luxury products as well as clothing and footwear were in firm demand, while sales of toys were sluggish.
Chinese Mainland
- Massive discounts and promotions facilitated by the buoyant stock market have boosted year-end sales.
- The rise of Double 11 and Double 12 days contributed significantly to the year-end spending binge.
- Consumer electronics, led by mobile phones, were the star performers, while luxury goods, houseware and household appliances were dampened.
Other Emerging Markets
- For Latin America, consumer sentiment was overcast by slackening commodity prices and exchange market fluctuations. Better Christmas sales over last year were mostly recorded for major markets in the region amid extensive discounts and promotions.
- As for Central and Eastern Europe, a reviving EU economy was a boon to festive spending, with growth in Christmas sales generally recorded for Hungary, Poland and the Czech.
- Russian consumers rushed to snap up goods before prices soared, contributing to the exceptional performance of year-end sales in Russia.
For the full report, please visit: http://bit.ly/1zsO7Bm
Photo Download: http://filesharing.tdc.org.hk/hktdc/download.php?fid=_phpxW539A
Contact:
HKTDC
Corporate Communication Department
Joe Kainz
Tel: +852 2584 4216
Email: joe.kainz@hktdc.org
Topic: Trade Show or Conference
Source: HKTDC
Sectors: Trade Shows, Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
