Sa Sa retail sales in HK, Macau plummet by 76.9pc in Lunar New Year

Cosmetics retail chain Sa Sa International (0178) said today Lunar New Year sales in Hong Kong and Macau plunged by 76.9 percent compared with last year due to the Wuhan coronavirus outbreak and drop in mainland visitors.

In Hong Kong, retail sales plummeted by 77.9 percent year-on-year from January 25 to 31.

According to the Hong Kong Immigration Department, the number of mainland tourist arrivals decreased by 85.5 percent year-on-year during the holiday.

The average sales per transaction of mainland tourists and local customers fell by 14.5 percent and 25.6 percent, respectively. As the proportion of mainland tourists with higher spending power dropped significantly, this led to a 51.5 percent fall in overall average sales per transaction.

Retail sales in Macau plunged by 73.4 percent on year.