Retail sales up 11.9% in August
Thanks to the boost from the Consumption Voucher Scheme.
In the Census and Statistics Department (C&SD) latest release, retail sales were seen to increase by 11.9% to $26.8b in August 2021.
The year-on-year growth in the value of total retail sales picked up notably to 11.9% in August, thanks to the boost from the Consumption Voucher Scheme (CVS). The stable local epidemic and improved labour market conditions also contributed.
Online sales accounted for 7.4% of total retail sales value in August 2021, provisionally estimated at $2.1b, increased by 16.5% compared with the same month in 2020. The revised estimate of online retail sales in July 2021 increased by 28.8% compared with a year earlier.
Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing August 2021 with August 2020, the sales of jewellery, watches and clocks, and valuable gifts increased by 28%. This was followed by sales of electrical goods and other consumer durable goods, (+10.1%); food, alcoholic drinks and tobacco (+1.3%); other consumer goods, not elsewhere classified (+30.7%); commodities in department stores (+7.5%); wearing apparel (+35.7%); medicines and cosmetics (+13.6%); fuels (+21.0%); furniture and fixtures (+6.5%); books, newspapers, stationery and gifts (+27.9%); footwear, allied products and other clothing accessories (+62.3%); Chinese drugs and herbs (+26.7%); and optical shops (+60.4%).
On the other hand, the value of sales of commodities in supermarkets decreased by 8.0% in August 2021 year on year, followed by sales of motor vehicles and parts (-0.4%).