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RETAIL | Tim Charlton, Hong Kong
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Retail sales extends decline with 12.9% value drop in September

Sles of valuable items and food continue to register declines.

Hong Kong's retail sales continue to register declines in September, dropping by 12.9% YoY compared to its value from a year ago to reach an estimated $26.1b for the month, according to the latest data from the Census & Statistics Department (C&SD).

Based on the broad type of retail outlet from the same month, the value of sales of food, alcoholic beverages, and tobacco was reduced by 11.1%.

Sales of jewelry, watches, and clocks, and other valuable items also saw a decline in value. Other such products and services like electrical goods, apparel, medicine and cosmetics were also affected by the drop in value of total retail sales.

Meanwhile, supermarket commodities saw a rise in value of sales in September of this year, having increased by 3.8%. Commodities in department stores also added 5.5% in value, followed by other consumer goods, motor vehicles, furnitures and fixtures, and other paper products.

The provisional estimate of the total retail sales value saw a growth of 5.9% in the third quarter of 2020, based on the modified seasons. On the other hand, the provisional estimate of volume of the total retail sales added a gain of 5.1%.

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