Retail sales up 13% YoY to $31.8b in September

Online retail sales accounted for 11% of the total value.

Hong Kong’s provisionally estimated total retail sales in September rose by 13% year-on-year (YoY) to $31.8b in September on the back of the revival of inbound tourism and private consumption, data from the Census and Statistics Department showed.

For the first nine months of the year, estimated retail sales increased by 18.6% YoY.

During the month, online sales comprised 11% of the total, increasing by 22% YoY to $3.5b.

The jewellery, watches and clocks, and valuable gifts posted the highest estimated sales value with a 27.3% YoY increase during the month.

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It is followed by the sales of electrical goods and other consumer durable goods not elsewhere classified (+1.0% in value); food, alcoholic drinks and tobacco (+16.5%); other consumer goods not elsewhere classified (+34.1%); wearing apparel (+41.5%); commodities in department stores (+12.2%); and medicines and cosmetics (+50.6%).

Books, newspapers, stationery and gifts (+10.8%); footwear, allied products and other clothing accessories (+9.8%); Chinese drugs and herbs (+14.0%); and optical shops (+17.4%) also posted growth during the period.

On the other hand, sales of commodities in supermarkets declined by 1.3%, whilst sales of motor vehicles and parts by 25.1%, fuels by 10.2%, and furniture and fixtures by 15.1%.

Meanwhile, a government spokesman added that the retail sector will benefit from the continued recovery of visitor arrivals. Improvement in household income and government initiatives will boost the sector.

Meanwhile, the estimated retail sales volume was up by 10.1% YoY, whilst for the first nine months, the volume rose by 16.5%.

The department added that the revised estimate of the total retail sales value in August was up by 13.7% YoY.