Retail sales value increases 1.1% YoY in December

The total value stood at $33.7b.

The total retail sales value hit $33.7b in December, an increase of 1.1% from the same month in 2021.

Of the total sales value, 12.0% or $4.0b was from online sales. Compared with a year ago, the online retail sales value rose 12.9%.

In the same month, the value of sales of electrical goods and other consumer durable goods not elsewhere classified increased by 1.8%.

Other retail outlets which recorded sales value increase were other consumer goods not elsewhere classified (+4.0%); food, alcoholic drinks and tobacco (+4.9%); medicines and cosmetics (+8.3%); motor vehicles and parts (+7.4%); footwear, allied products and other clothing accessories (+7.2%); Chinese drugs and herbs (+16.2%); and optical shops (+4.0%).

On the flip side, the value of sales of commodities in supermarkets decreased by 0.3%, followed by sales of jewellery, watches and clocks, and valuable gifts (-3.0% in value); wearing apparel (-0.9%); commodities in department stores (-5.7%); fuels (-2.6%); furniture and fixtures (-5.3%); and books, newspapers, stationery and gifts (-3.4%).

The Census & Statistics Department (C&SD), citing the government, said the value of retail sales reverted to a year-on-year increase in December  alongside improved economic sentiment and the further relaxation of social distancing measures.

Looking ahead, the government said the return of economic activities from the epidemic to normalcy and an expected increase in inbound visitors should bode well for retail sales performance.