May retail sales down 1.7%

June 30, 2022

The value of total retail sales in May, provisionally estimated at $29.1 billion, decreased 1.7% compared with the same month in 2021, the Census & Statistics Department announced today.


After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month dropped 4.9% year-on-year.


Of the total retail sales value in May, online sales accounted for 7.7%. Provisionally estimated at $2.2 billion, the value of online retail sales rose 2% compared with a year ago.


The value of sales of commodities in supermarkets dipped 5.2% in May over a year earlier. This was followed by sales of commodities in department stores (-4.4%); wearing apparel (-2.1%); electrical goods and other consumer durable goods not elsewhere classified (-2.3%); medicines and cosmetics (-5.3%); motor vehicles and parts (-31.7%); and furniture and fixtures (-5.1%).


On the other hand, the value of sales of other consumer goods not elsewhere classified increased 7.7%, followed by sales of jewellery, watches and clocks, and valuable gifts (+7.1%); food, alcoholic drinks and tobacco (+1.9%); fuels (+1.7%); footwear, allied products and other clothing accessories (+0.9%); books, newspapers, stationery and gifts (+4.4%); Chinese drugs and herbs (+2.4%); and optical shops (+5%).


The Government said that after the strong growth in April, the value of retail sales in May declined mildly from a year earlier.


Nonetheless, there was still a year-on-year increase of 4.7% in value thanks to the moderated local epidemic situation and the support of the Consumption Voucher Scheme, representing a notable improvement from the 7.6% fall in the first quarter.


Looking ahead, the Government pointed out that retail businesses should continue to revive as long as the local epidemic situation remains under control, adding it is essential for the community to work in unison with the Government to keep the epidemic contained.

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