This initiative was to empower the industry, address the need for learning, and encourage excellence in the gem and jewellery industry, thereby building consumer confidence.
Retail sales in Hong Kong for jewellery, watches and other luxury products during March fell by 10 percent by volume. The overall retail sales in the country slipped by 8 percent amounting to around $2.7 billion, as consumers remained conscientious to spend less. The fall in retail sales, while overlooking deflation, was 9 percent in the month. The decrease in sale of apparels was 20 percent. %% Within the first quarter of the year, the decrease in sales was 4 percent by value and 6 percent by volume. According to reports, the country expects the short term retail sales to continue to be affected by the economic downturn.
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