Only one-fourth retailers expect sales growth in December

Only 23 per cent of interviewed retailers in the city anticipated their sales would register a year-on-year growth for December whilst the majority expected their businesses would have no significant ups or downs, according to the latest business climate survey released yesterday by the Statistics and Census Service (DSEC).
According to DSEC, it interviewed a total of 135 retailers in the city, which accounted for 70 per cent of the total.
All retailers selling leather goods said their sales should either increase or remain stable for last month as compared to the same month in 2015, whereas 37 per cent of the retailers of watches, clocks and jewellery expected a year-on-year sales increase for the month.
Nevertheless, some 41 per cent of the retailers told the surveyor that they could probably record a decline in sales for the same month.
Meanwhile, for last November, 39 per cent of the surveyed retailers said they had reported a year-on-year growth in sales, which is up by 4 percentage points from October.
Retailers of leather goods are among those who enjoyed sales growth for the month. According to DSEC, all interviewed leather goods retailers said they had registered a year-on-year increase in sales for November.
In addition, some 62 per cent of adults’ clothing retailers, 50 per cent of the Department Stores and 11 per cent of motor vehicle retailers said they had seen sales increase year-on-year in the month, which is up by 12, 28 and 11 percentage points, respectively, compared to October.
But 53 per cent of the interviewed retailers said their sales had posted a year-on-year decrease for last November. Yet the proportion, compared to that for the month of October, went down by 5 percentage points.

On the other hand, some 40 per cent of 167 restaurants and similar establishments expected their receipts would decrease year-on-year for last December. Some 19 per cent anticipated business would record a growth year-on-year, DSEC said.
For last November, 30 per cent of the establishments said they had posted a year-on-year growth in receipts, which is attributable to the Grand Prix and the Food Festival that took place in the same month.
But 50 per cent of the interviewed restaurants said they had registered a year-on-year decline in receipts for November.
DSEC notes that the results only reflect the business performance and the expectations of the sample restaurants and retailers, where it has not conducted any extrapolation of the results.