, Hong Kong
Photo by Catgirlmutant for Unsplash

Retail sales grows 31.3% in February 2023

But provisional online retail sales dropped 4.1% to $2.6b.

The total sales of Hong Kong's retail industry rose by 31.3%, provisionally estimated to be $33.1b, compared with the same month in 2022.

The city's Census and Statistics Department also recorded a 6.9% increase in the revised estimate of last January's total retail sales to $129.5m.

Sales from jewellery, watches and clocks, and valuable gifts have the highest percentage with 62.6%, followed by optical shops (53.2%); Chinese drugs and herbs (51.1%); motor vehicles and parts (49.3%); wearing apparel (47.4%); books, newspapers, stationery and gifts (45.2%); footwear, allied products, and other clothing accessories (40.4%); medicines and cosmetics (22.4%); fuels (14.1%); consumer goods (13.7%); electrical goods and other consumer durable goods (11.4%); commodities in department stores (10.4%); and food, alcoholic drinks and tobacco (0.1%).

READ MORE: How Hong Kong can remain a shopping destination for GBA travellers

Meanwhile, provisional online retail sales in February dropped 4.1% to $2.6b, despite being 7.8% of the total retail sales, whilst the revised estimate of online retail sales in January dipped 3.4% to $2.98b.

However, the total provisional retail sales volume in February grew 29.6% year-over-year, whilst the revised volume in January increased by 5.1%.

The department said retail sales show greater volatility in the first two months due to Lunar New Year. 

"Consumer spending in the local market normally attains a seasonal high before the Festival. As the Lunar New Year fell on January 22 this year but on February 1 last year, it is more appropriate to analyse the retail sales figures for January and February have taken together in making a year-on-year comparison," the department said.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!