August retail sales up 13.7%

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The value of total retail sales in August, provisionally estimated at $32.4 billion, rose 13.7% compared with the same month in 2022, the Census & Statistics Department announced today.

 

After netting out the effect of price changes over the same period, the provisional estimate represents an 11% year-on-year increase.

 

Of the total retail sales value in August, online sales accounted for 7.3%. Provisionally estimated at $2.4 billion, the value of this segment dropped 9% compared with a year earlier.

 

The value of sales of jewellery, watches and clocks, and valuable gifts, increased 57.2%.

 

There were also notable increases in other categories, including apparel apparel (up 40% in value); commodities in department stores (up 14.9%); medicines and cosmetics (up 42.9%); footwear, allied products and other clothing accessories (up 24.2%); books, newspapers, stationery and gifts (up 10.2%); Chinese drugs and herbs (up 32%); and consumer goods not elsewhere classified (up 23.4%).

 

By contrast, the value of sales of commodities in supermarkets decreased 3% in August over a year earlier. Sales of food, alcoholic drinks and tobacco were down 1.4%, while sales of electrical goods and other consumer durable goods not elsewhere classified fell 15.9%. Sales of motor vehicles and parts (down 5.8%), fuels (down 15.5%), and furniture and fixtures (down 15.1%) all declined.

 

The Government said the continued overall rise in retail sales over a year earlier was due to a further increase in visitor arrivals and that the retail sector will continue to benefit from the ongoing recovery of inbound tourism in the near term.

 

It added that positive consumer sentiment amid improved labour market conditions, and the Night Vibes Hong Kong Campaign, should also provide support.



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