The total value of retail sales in February, provisionally estimated at $35 billion, was up 19.3% compared with the same month a year earlier, 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 represents a 17.5% year-on-year increase.

Online sales accounted for 8.5% of the total retail sales value in February. Provisionally estimated at $3 billion, the value of this segment rose 29% from the same month a year earlier.

Meanwhile, the revised estimate of the total value of retail sales for January 2026 was 5.5% higher than that for a year earlier. For the first two months of 2026 taken together, it is provisionally estimated that the value of total retail sales rose 11.8% compared with the same period in 2025.

Highlighting that retail sales tend to show greater volatility in the first two months of a year due to the variable timing of the Lunar New Year, the department said consumer spending in the local market normally reaches a seasonal high before the festival.

Explaining that as the Lunar New Year fell on February 17 this year but on January 29 last year, it is more appropriate to analyse the retail sales figures for January and February taken together when making year-on-year comparisons.

For the first two months of 2026 taken together, the value of online retail sales was 27.5% higher than that for the same period in 2025.

The value of sales of consumer goods “not elsewhere classified” increased 13.1% in the first two months of 2026 compared with the same period a year earlier.

There were also increases in the following categories: jewellery, watches clocks, and valuable gifts (up 27.8%); commodities in supermarkets (up 3.3%); clothing (up 6.2%); food, alcoholic drinks and tobacco (up 2.6%); medicines and cosmetics (up 8.3%); electrical goods and other consumer durable goods not elsewhere classified (up 32.4%); commodities in department stores (up 5.8%); motor vehicles and parts (up 28.5%); footwear, allied products and other clothing accessories (up 9.6%); books, newspapers, stationery and gifts (up 3.%); furniture and fixtures (up 13%); and optical items (up 9.2%). 

Meanwhile, the value of sales of fuels was down 14.2% in the first two months of 2026 versus the same period a year earlier. Sales of Chinese drugs and herbs also fell (down 0.8%).

The Government highlighted that retail sales strengthened significantly in early 2026. Looking ahead, it added that resilient growth momentum in the local economy and an increase in inbound visitors are expected to support retail businesses. The Government will continue to closely monitor geopolitical developments and assess the potential implications for consumer spending locally.