Jewellery sales in Hong Kong are expected to recover in the second half of the year, an industry expert was quoted as saying in a report.
Lawrence Ma, chairman of the Diamond Federation of Hong Kong, said the Chinese New Year resulted in lacklustre jewellery sales due to a falling stock market and Hong Kong residents travelling abroad during the holiday period. The sales figure, however, will begin to increase in the second half of the year, Takungpaorecently reported.
The report also quoted Benedict Sin, chairman of the Jewellery Advisory Committee of the Hong Kong Trade Development Council (HKTDC), as saying that demand for jewellery started to increase following a drop in the prices of precious metals last year.
Sin added that consumers may prefer more affordable products than big brands given the current economic environment, which is good news for Hong Kong’s jewellery exporters.