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Colliers Quarterly | Q2 2020 | Retail

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Hong Kong Quarterly Q2 2020 retail 1536x1040

Market recovery to hinge on the border reopening timeline

Overall, retail sales for Q2 remained under pressure, dropping 34.5% YoY amidst the continued suspension of inbound tourism. However, domestic activity has spurred performance slightly, but only narrowing the monthly decline between March (42.1%), April (36.1%) and May (32.8%).

Highlights:

  • The outlook for the retail sector is anticipated to remain challenging for the rest of 2020, carrying through to H1 2021.
  • The third wave of COVID-19 is anticipated to prolong the retail sector’s recovery process. However, some retailers have been able to perform with sustainable sales in H1 2020.

Hong Kong Quarterly Q2 2020 retail 1024x972

Colliers Quarterly | Q2 2020 | Retail

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