SHANGHAI — New data from Hong Kong show that January sales sank to lows not seen since 2003 as tourist spending fell in the month building up to Chinese New Year. On the Mainland, consumer sentiment appeared buoyant, with shoppers showing greater appreciation for home-grown brands. “From November to January we saw exceptional growth,” said Paul Burke, China chief executive officer of Galeries Lafayette, the French department store that positions itself as “fashion forward and affordable.” Located in Beijing’s downtown Xidan district, the store, which opened in 2013, saw record sales in the weeks leading up to Chinese New Year. The ceo said footfall increased by 30 percent. He also noted strong growth in the fashion and accessories categories, with an uplift for F&B units hosting families over the holiday. China’s economic slowdown, which has seen growth stabilize at around 7 percent, has affected luxury brands. At Galeries Lafayette — where names such as Cartier, Louis Vuitton and Chanel are absent — the picture is upbeat. Other upward trends include the growing popularity of Western festivals, such as Valentine’s Day, and new consumers coming into the city from suburban areas to shop. In Hong Kong, the Hong Kong Retail Management Association said retail sales in
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