Hong Kong Business News

The value of total retail sales in June, provisionally estimated at $30.1 billion, was up 0.7% compared with the same month in 2024, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate for the month was 0.3% lower year on year.

On a seasonally adjusted basis, the provisional estimate of the value of total retail sales was up 0.3% in the second quarter compared with the first quarter, while the provisional estimate of the volume of total retail sales increased by 2.7%.

Online sales accounted for 8.5% of the total retail sales figure for the month. Provisionally estimated at $2.5 billion, the value of online retail sales rose 8.4% compared with a year earlier.

Meanwhile, the value of sales of jewellery, watches and clocks, and valuable gifts increased by 6.8%.

There were also increases in the value of sales in the following categories: “other consumer goods not elsewhere classified” (+7.2%); commodities in supermarkets (+0.4%); medicines and cosmetics (+6%); commodities in department stores (+5.7%); and optical items (+1%).

By contrast, the value of sales of apparel decreased by 4.3% for the period. Also down were sales of food, alcoholic drinks and tobacco (-1.5%); electrical goods and other consumer durable goods not elsewhere classified (-9.3%); motor vehicles and parts (-6%); fuels (-8.7%); furniture and fixtures (-16.3%); footwear, allied products and other clothing accessories (-7.2%); Chinese drugs and herbs (-2%); and books, newspapers, stationery and gifts (-4.7%).

The Government said that retail sales have shown signs of stabilisation in recent months. Looking ahead, it expects that continued increases in employment earnings and a buoyant local stock market, coupled with the Government’s efforts in promoting tourism and mega events, as well as enterprises’ efforts to provide more diversified experiences, will support consumption.