Hong Kong retail sales up 13.7% in August

Hong Kong’s retail sales in August this year have surged by 13.7% compared with the same month in 2022, due to a further increase in visitor arrivals.

According to the latest figures released by the Census and Statistics Department (C&SD), the value of total retail sales in August 2023, is provisionally estimated at HK$32.4 billion.

For the first eight months of 2023 taken together, it was provisionally estimated that the value of total retail sales increased by 19.3% compared with the same period in 2022.

Meanwhile, online sales accounted for 7.3% out of the total retail sales in August, whereas the value of online retail sales in that month, provisionally estimated at HK$2.4 billion, decreased by 9% compared with the same month in 2022.

For the first eight 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.

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Analysed by a broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing August 2023 with August 2022, the value of sales of jewellery, watches and clocks, and valuable gifts increased by 57.2%. 

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 3.0% in August 2023 over a year earlier. This was followed by sales of food, alcoholic drinks and tobacco (-1.4% in value); electrical goods and other consumer durable goods not elsewhere classified (-15.9%); motor vehicles and parts (-5.8%); fuels (-15.5%); 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 three months ending August 2023 compared with the preceding three-month period, while the provisional estimate of the volume of total retail sales decreased by 4%.

A government spokesman said that the value of total retail sales continued to register visible year-on-year growth in August due to a further increase in visitor arrivals.

"The retail sector would continue to benefit from the ongoing recovery of inbound tourism in the near term. Positive consumer sentiment amid improved labour market conditions and the "Night Vibes Hong Kong" campaign, which features a variety of activities and consumption offers, should also provide support," the spokesperson added.

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