Retail Sales Value Up 4.1%

The value of total retail sales in January 2018, provisionally estimated at $44.9 billion, rose 4.1% compared to the same period a year ago, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the volume of total retail sales rose 2.2% year-on-year.

The sales value of jewellery, watches and clocks, and valuable gifts increased 10.4%.

This was followed by sales of wearing apparel (+3.3% in value); medicines and cosmetics (+12.1%); electrical goods and other consumer durable goods, not elsewhere classified (+21.1%); other consumer goods, not elsewhere classified (+9.6%); motor vehicles and parts (+24.9%); fuels (+2.6%); furniture and fixtures (+8.6%); books, newspapers, stationery and gifts (+0.7%); and optical shops (+2.7%).

The sales value of commodities in supermarkets decreased 13.3%, followed by commodities in department stores (-4.6% in value); food, alcoholic drinks and tobacco (-5.4%); footwear, allied products and other clothing accessories (-9.8%); and Chinese drugs and herbs (-1.8%).

The department said retail sales increased moderately, despite the drag on the year-on-year rate of change due to the difference in timing of Chinese New Year, suggesting consumer sentiment has been rather robust on entering 2018.

It added favourable job and income conditions and sustained recovery in inbound tourism should continue to prop up retail business in the near term.