Retail sales down 13% in February

Data for the first two months also fell.

The value of retail sales in February reached $29.4b, which was down 13% from the same period last year, the Census & Statistics Department said.

According to the government, this was partly due to the earlier arrival of Lunar New Year in late January this year as compared to early-February last year.

For the first two months of 2025, the value of total retail sales decreased 7.8% year-on-year, whilst the value of online retail sales dropped 2.4% from last year.

Online sales accounted for 7.8% of the total retail sales value in February. Provisionally estimated at $2.3b, the value of this segment dropped 7.3% from a year earlier.

Some of those that recorded the biggest decline in value of sales are motor vehicles and parts (down 49.9%), furniture and fixtures (down 25.6%), and jewellery, watches and clocks, and valuable gifts (down 15.8%).

On the other hand, the value of sales of food, alcoholic drinks and tobacco increased by 0.7% in the first two months of 2025, along with the sales of medicines and cosmetics (up 0.6%).

Looking ahead, the government said the various measures by the central government to boost the Mainland economy and benefit Hong Kong, together with the Special Administrative Region Government's efforts to promote tourism and mega events and the sustained increases in employment earnings in local labour market, would benefit the retail sector.