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| Tuesday, 29 December 2015, 17:00 HKT/SGT | |
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Source: HKTDC | |
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| US and Europe Record Steady Year-End Sales Growth |
HONG KONG, Dec 29, 2015 - (ACN Newswire) - Global Christmas sales for 2015 performed steadily overall, according to a report by the Hong Kong Trade Development Council (HKTDC). The report, based on preliminary Christmas sales in markets around the world, also highlighted varied sales patterns in different regions, while earmarking the United States and Europe, most notably the United Kingdom and Germany, as bright spots. End-of-year retail sales are regarded as a bellwether for the retail business in the year ahead.
 | | 2015 Global Christmas Sales Indicate Stable Outlook for 2016 |
The year-end shopping spree in the Chinese mainland was boosted by the rising popularity of Singles' Day (11 November), with retail sales for November expanding 11.2 per cent year-on-year. Meanwhile, Japan performed strongly, with sales rising more than five per cent thanks largely to an influx of tourists from the mainland. Other promising markets included Mexico and emerging European economies such as Hungary, Poland and the Czech Republic.
HKTDC Principal Economist (Global Research) Daniel Poon said consumer sentiment remains cautious, with shoppers focused and tactical buying, favouring less pricey items instead of more ostentatious purchases.
"Value-for-money will thus continue to be the catchword for most shoppers, with an ever-expanding proportion of them using the Internet to source product information and compare prices," said Mr Poon. "In this context, importers and retailers will remain conservative, with many still expected to play safe in terms of order size, lead time and pricing. Many of them are also expected to expand their e-tailing activities in order to shore up their sales, while diversifying their sourcing and manufacturing away from the mainland to other lower-cost production bases throughout the Asian region."
Other trends identified in the report were global in nature. They included growing demand for consumer electronic items such as TVs, tablets, smartphones and wearable technology. Toys were in particularly strong demand in terms of those related to new franchise merchandise, such as Star Wars items.
The use of mobile devices and social networks to search for gift ideas and make online price comparisons continued to be the norm while e-tailers, including most bricks-and-mortar retailers with websites and mobile apps, took advantage of the trend to successfully boost sales.
While sales to traditional markets continue to be important, Mr Poon said Hong Kong exporters should seek out new business opportunities in emerging markets. "Mexico's piggyback on the US recovery and Brazil's 2016 Summer Olympics, for instance, should bring increased opportunities for Hong Kong exporters," he said. "Of greater importance, of course, is the mainland, where government endeavours to achieve a moderately prosperous society by 2020 and promote consumption so as to realise more balanced economic growth will unfold new dimensions for those Hong Kong companies used to selling to overseas markets."
United States
-- Holiday sales expected to rise by around 3.5 per cent year-on-year.
-- Unseasonably mild temperatures had an adverse effect on apparel sales.
-- Generally favourable consumer sentiment is a reflection of low unemployment, steady payroll increases, an improving housing market and better household balance sheets.
-- US retailers, especially clothing retailers, resorted to a comprehensive range of discounts and promotions to attract price-driven shoppers.
-- Hot demand for consumer electronics including smartphones, TVs and wearable technology as well as home appliances and toys related to blockbuster films like Star Wars and Frozen.
European Union
-- Despite heightened security concerns, festive spending in Europe was generally in better shape in 2015.
-- Sales for Germany and the UK expected to rise by two per cent year-on-year.
-- Consumers prefer to shop using cash and debit cards.
-- Promotional activities and discounts were effective in attracting consumers.
-- Value retailers continued to outperform department stores and upscale stores.
-- E-tailers gaining in popularity.
-- Sales led by consumer electronics, smartphones, other mobile devices and toys.
-- Unseasonably warm weather took a toll on clothing sales while jewellery and luxury goods were also lower on the shopping list.
Chinese Mainland
-- The retail climate has become more positive, indicating that pro-consumption measures are starting to take effect.
-- Following an 11 per cent rise in October, retail sales expanded by 11.2 per cent in November, boosted by Singles' Day buying.
-- Retail and online sales grow on the back of intense discounts and promotions.
-- Strong demand for consumer electronics and mobile phones.
-- Growing sales for household appliances may indicate bottoming out of property market, while poor air quality prompted rising sales of air purifiers and humidifiers.
-- Steady sales of fashion products such as clothing, footwear and accessories as well as toys.
Japan
-- Retail sales expected to expand by more than five per cent, partly due to an influx of tourists from the Chinese mainland.
-- Local shoppers have stayed timid, opting for basics as year-end gifts.
-- Price cuts and promotions required to attract shoppers, who favoured discount stores and e-tailers.
-- In addition to consumer electronics, healthcare electronic devices, toys and rice cookers were other big hits.
Other Emerging Economies
-- In Latin America, consumer sentiment was again undermined by weak commodity prices and exchange market fluctuations, although Mexico received a boost from the US recovery.
-- As for Central and Eastern Europe, a recovering EU economy, albeit slow and patchy, tended to be a growth driver for festive spending, with growth generally seen in Hungary, Poland and the Czech Republic.
-- Russia demonstrated poor Christmas sales results, due mainly to slackening crude prices and weak economic conditions.
Photo Download: http://bit.ly/1Pu5qfV
To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc
Contact:
HKTDC
Communication and Public Affairs Department
Joe Kainz
Tel: +852 2584 4216
Email: joe.kainz@hktdc.org
Topic: Trade Show or Conference
Source: HKTDC
Sectors: Trade Shows, Retail & eCommerce
https://www.acnnewswire.com
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