Sep retail sales up 13%
The value of total retail sales in September, provisionally estimated at $31.8 billion, rose 13% 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 a 10.1% year-on-year increase.
Of the total retail sales value in September, online sales accounted for 11%. Provisionally estimated at $3.5 billion, the value of this segment rose 22% compared with a year earlier.
The value of sales of jewellery, watches and clocks, and valuable gifts, increased 27.3%.
There were also notable increases in other categories, including electrical goods and other consumer durable goods not elsewhere classified (up 1% in value); food, alcoholic drinks and tobacco (up 16.5%); other consumer durable goods not elsewhere classified (up 34.1%); wearing apparel (up 41.5%); commodities in department stores (up 12.2%); medicines and cosmetics (up 50.6%); books, newspapers, stationery and gifts (up 10.8%); footwear, allied products and other clothing accessories (up 9.8%); Chinese drugs and herbs (up 14%); and optical shops (up 17.4%).
By contrast, the value of sales of commodities in supermarkets decreased 1.3% in September over a year earlier. Sales of motor vehicles and parts (down 25.1%), fuels (down 19.2%), and furniture and fixtures (down 15.1%) all declined.
Apart from pointing out that the continued overall growth in retail sales over a year earlier was due to the ongoing revival of inbound tourism and private consumption, the Government said the retail sector will benefit from the further recovery of visitor arrivals.
It added that the current improvement in household income, as well as the Night Vibes Hong Kong Campaign and other support initiatives by the Government, should also provide support.