On May 31, the Hong Kong Retail Management Association reported severe challenges in the Hong Kong retail market, and said it expects a double-digit decline in May. In April, retail sales dropped 14.7% YoY to HK$29.6 billion ($3.78 billion), exceeding market expectations. Chairwoman Annie Tse noted that over 90% of retailers saw sales decline, with some sectors experiencing 20% to 40% drops. Contributing factors include last year’s high base from consumption vouchers, low mainland consumer spending, changing tourist shopping habits, reduced large purchases, and adverse weather. Tse suggested the government attract more mainland tourists and negotiate higher duty-free allowances to boost spending.