Retail sales rebound in May on improved consumption market

Total retail sales value increased by 2.4% year-on-year to $31.3 billion

The value of total retail sales in May 2025 is estimated at $31.3 billion, a 2.4% increase year-on-year(YoY) according to the Census and Statistics Department (C&SD).

The figure improved from the 2.3% YoY drop in April. For the first five months combined, the value of total retail sales decreased by 4% YoY.

Online sales accounted for 8.3% of the total retail sales value estimated at $2.6 billion in May, a 0.3% YoY increase and a rebound compared to the 3.7% YoY decrease in April. However, the total value of online retail sales for the five months in 2025 combined decreased by 1.7% YoY.

Other notable increase in value of sales include the 8.9% YoY surge for other consumer goods not elsewhere classified, 8.7% jump of medicines and cosmetics, 6.3% add for commodities in department stores, followed by the 2.8% climb in food, alcoholic drinks and tobacco and the 2.7% rise in motor vehicles and parts.

The value of sales of furniture and fixtures decreased by 12% YoY in May 2025, followed by the 6.9% drop from sales of fuels and the 3.2% decline from jewellery, watches and clocks, and valuable gifts.

In terms of Volume, after netting out price changes, the total retail sales increased by 1.9% YoY in May this year and a rebound compared to the 3.3% decrease YoY in April.

For the first five months of 2025 combined, the estimated volume of retail sales decreased by 5.5% YoY.

Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales increased by 4.1% in the three months ending May 2025 compared with the preceding three-month period, while the provisional estimate of the volume of total retail sales increased by 7%.

The government's promotion of tourism with income growth from the mainland will help boost the consumer market, said a government spokesman.