HK retail sales see visible rise of 15% YOY in April

Hong Kong retail sales have surged by 15 % year-on-year in April as consumption sentiment and visitor arrivals continued to improve.

According to the official figures released by Census and Statistics Department (C&SD), the value of total retail sales in April 2023, provisionally estimated at HK$34.7 bn, increased by 15% compared with the same month in 2022.

For the first four months of 2023 taken together, it was provisionally estimated that the value of total retail sales increased by 21.7% compared with the same period in 2022. 
 
Online sales accounted for 6.4% of the total retail sales value in April. The value of online retail sales in that month, provisionally estimated at $2.2 billion, decreased by 11.9% compared with the same month in 2022. For the first four months of this year taken together, it was provisionally estimated that the value of online retail sales decreased by 6.9% compared with the same period in 2022.

Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing this and last April, the value of sales of jewellery, watches and clocks, and valuable gifts increased by 75.2%.

This was followed by sales of other consumer goods not elsewhere classified (+17.8% in value); wearing apparel (+38.6%); food, alcoholic drinks and tobacco (+3.9%); commodities in department stores (+14.0%); medicines and cosmetics (+34.8%); motor vehicles and parts (+18.4%); footwear, allied products and other clothing accessories (+26.2%); Chinese drugs and herbs (+7.3%); books, newspapers, stationery and gifts (+29.9%); and optical shops (+16.6%).

On the other hand, the value of sales of commodities in supermarkets has dropped by 7.9% in April this year over a year earlier. This was followed by sales of electrical goods and other consumer durable goods not elsewhere classified (-13.1% in value); fuels (-10.2%); and furniture and fixtures (-26.0%).

A government spokesman said that the visible rise of the value of total retail sales in April over a year earlier was due to the continued improvement in consumption sentiment and visitor arrivals. 
 
Looking ahead, the spokesman pointed out that the revival of inbound tourism and local consumption demand should continue to help the retail sector performance. The disbursement of consumption vouchers will provide further support.

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