HK retail sales up 13% in September

Hong Kong’s retail sales in September this year have surged by 13% compared with the same month in 2022, due to a continued revival of inbound tourism and private consumption. 

According to the latest figures released by the Census and Statistics Department (C&SD), the value of total retail sales in September 2023, is provisionally estimated at HK$31.8 billion.

For the first nine months of 2023 taken together, it was provisionally estimated that the value of total retail sales increased by 18.6% compared with the same period in 2022.

Meanwhile, online sales accounted for 11% of the total retail sales in September, whereas the value of online retail sales in that month, provisionally estimated at HK$3.5 billion, increased by 22% compared with the same month in 2022.

For the first nine months of 2023 taken together, it was provisionally estimated that the value of online retail sales decreased by 5.6% compared with the same period in 2022.

Don’t miss: Hong Kong retail sales up 13.7% in August

Analysed by a broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing September 2023 with September 2022, the value of sales of jewellery, watches and clocks, and valuable gifts increased by 27.3%. 

This was followed by sales of other consumer goods not elsewhere classified (+23.4% in value); wearing apparel (+40%); commodities in department stores (+14.9%); medicines and cosmetics (+42.9%); footwear, allied products and other clothing accessories (+24.2%); books, newspapers, stationery and gifts (+10.2%); Chinese drugs and herbs (+32%); and optical shops (+22.4%).

On the other hand, the value of sales of commodities in supermarkets decreased by 1.3% in September 2023 over a year earlier. This was followed by sales of motor vehicles and parts (-25.1% in value); fuels (-19.2%); and furniture and fixtures (-15.1%).

Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales decreased by 3.8% in the third quarter of 2023 compared with the preceding quarter, while the provisional estimate of the volume of total retail sales decreased by 4.2%.

A government spokesman said that the value of total retail sales continued to grow visibly in September over a year earlier due to the continued revival of inbound tourism and private consumption.

Looking ahead, the spokesman pointed out that the further recovery of visitor arrivals should benefit the retail sector. “Continued improvement in household income and the government's various support initiatives, including the ‘Night Vibes Hong Kong’ campaign, should also provide support,” the spokesperson added.

Don't miss: 

Hong Kong retail sales up 13.7% in August 
HK retail sales up 16.5% in July 
HK total retail sales expected to grow by 17% in 2023 
HK retail sales up 19.6% in June due to recovery of inbound tourism