Retail sales value rises 5.6% YoY in October

The total value stood at $33.8b.

The total retail sales value hit $33.8b in October, an increase of 5.6% from the same month in 2022.

Of the total sales value, 11% or $3.7b was from online sales. Compared with a year ago, the online retail sales value rose 8.4%.

Amongst retail outlets, "apparel" recorded the biggest improvement, with sales increasing 29.9% YoY.

In the same month, the value of sales of "jewellery, watches and clocks, and valuable gifts" and "other consumer goods not elsewhere classified" increased by 27.4% YoY and 24.8% YoY, respectively. 

Other retail outlets which recorded sales value increase were food, alcoholic drinks and tobacco (+1.3%); commodities in department stores (+1%); medicines and cosmetics (+23.5%); books, newspapers, stationery and gifts (+1.8%); and footwear, allied products and other clothing accessories (+2.5%).

food, alcoholic drinks and tobacco (+4.4%); medicines and cosmetics (+51.5%); motor vehicles and parts (+54.7%); footwear, allied products and other clothing accessories (+17.9%); Chinese drugs and herbs (+35.1%); books, newspapers, stationery and gifts (+17.9%); and optical shops (+16.4%).

On the flip side, the value of sales of electrical goods and other consumer durable goods not elsewhere classified dipped by 12.5% YoY, followed by sales of supermarkets (-5.8% YoY); motor vehicles and parts (-4.8% YoY); fuels (-17.3% YoY); furniture and fixtures (-24.8% YoY); and Chinese drugs and herbs (-2% YoY).

The Census & Statistics Department (C&SD), citing the government, said the value of retail sales “had risen alongside a continued revival of inbound tourism."

Looking ahead, the government said, " a further anticipated recovery in visitor arrivals should benefit the retail sector, and that continued improvement in household income and various activities that bolster the economy, including the Night Vibes Hong Kong campaign, will provide support."