, Hong Kong
Photo by Touann Gatouillat Vergos on Unsplash

Retail sales value slightly dips by 0.1% YoY in August

The total value stood at $28.6b.

Hong Kong recorded a total retail sales value of $28.6b in August, a slight dip of 0.1% from the same month last year.

Of the total sales value, 9.1% or $2.6b were from online sales. Compared with a year ago, the online retail sales value rose 21.3%.

In the same month, sales of commodities in several retail outlets also dropped. In supermarkets, sales fell 1% YoY.

Sales of electrical goods and other consumer durable goods not elsewhere classified (-3%); commodities in department stores (-11.3%); wearing apparel (-7.4%); medicines and cosmetics (-0.2%); furniture and fixtures (-8.5%); books, newspapers, stationery and gifts (-17.4%); footwear, allied products and other clothing accessories (-12.7%); Chinese drugs and herbs (-3.4%); and optical shops (-8.7%) likewise fell during the month.

On the flip side,  the value of sales of jewellery, watches and clocks, and valuable gifts increased by 4.3%, followed by sales of other consumer goods not elsewhere classified (+3.8%); food, alcoholic drinks and tobacco (+2.1%); motor vehicles and parts (+43.7%); and fuels (+7.2%).

Whilst sales in some retail outlets dropped, the Census & Statistics Department (C&SD) said the marginal dip in August was because of a high base of comparison. 

Looking ahead, the Government pointed out that the moderating local COVID-19 epidemic situation, improving labour market conditions and phase two of the Consumption Voucher Scheme will continue to support consumption sentiment and demand in the near term, but the increasingly tight financial conditions will pose constraints.
 

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