Hong Kong
South Korea
Thailand
Around the region
Highlights from Inside Retail Asia ’ s news coverage during the past quarter .
Hong Kong
Hong Kong retail sales see double-digit decline for second straight month Hong Kong retail sales
A government spokesman decreased 11.5 per cent year ascribed the considerable on year in May , marking the fall to changes in visitor second month in a row of and resident consumption double-digit decline . patterns , as well as the Hong
The Census and Statistics Kong dollar ' s strength . Department estimated that The majority of retail retail sales in May were at sectors experienced year-onyear sales declines , headed
HK $ 30.5 billion ( US $ 3.9 billion ). The loss was by motor vehicles and significantly slower than the components ( down 29.8 per 14.7 per cent drop in April but cent ), watches and clocks , and greater than the 7 per cent costly presents ( down 21.4 reduction in March . per cent ), commodities in
Retail sales fell 6.1 per cent department stores ( down 21.1 in the first five months of this per cent ), and wearing clothes year compared to the same ( down 18.8 per cent ) period the previous year .
South Korea
Online sales drive South Korea retail surge in April Retail sales in South Korea increased 10.8 per cent , year on year , in April , driven by increasing demand from the online segment .
Figures compiled by the Ministry of Trade , Industry and Energy showed the combined sales of 25 large offline and online retailers totalled $ 11.2 billion last month , up from $ 10.2 billion the previous year .
Sales from online platforms increased by 22.2 per cent , as local businesses implemented promotional events to reflect the growing popularity of overseas platforms .
In April , online platforms accounted for 54 per cent of overall sales , up from 49 per cent the previous year , the government stated .
Offline retail sales fell 0.2 per cent , due to fewer weekend days , which totalled eight , down two from the previous year . Meanwhile , supermarket sales declined 6.7 per cent , due to lower demand for gadgets , everyday needs and sports items .
Sales at department stores fell 2 per cent , while demand for imported luxury items fell 3.3 per cent . Convenience stores , on the other hand , increased sales by 5.9 per cent , due to tobacco items and processed food .
Thailand
Thailand to close inbound duty-free shops to promote local spending Duty Free stores in Thailand ' s closure of inbound duty-free stores will international arrival zones will be raise foreign tourists ' spending by 570 closed to boost domestic sales , with baht per person for every trip . projections for up to 3.5 billion baht Operators of inbound tax-free a year ( US $ 95.7 million ) of new local stores at Suvarnabhumi , Don Mueang , retail spending .
Chiang Mai , Phuket , Hat Yai , U-tapas ,
The closure attempts to encourage Samui , and Krabi , have agreed to cease domestic consumption and the use operations of their stores at the eight of locally produced goods , thereby international airports , according to redirecting spending and improving Bangkok Post . total economic value .
Tax benefits for bonded warehouses
The ministry expects that the in arrivals will also be suspended .
6 www . insideretail . asia August 2024