The value of total retail sales for January, provisionally estimated at $35.3 billion, was 3.2% less than in the same month a year earlier, the Census & Statistics Department announced today.
After netting out the effects of price changes over the same period, the provisional estimate represents a 5.2% year-on-year decrease.
Online sales accounted for 6.9% of January’s total retail sales value. Provisionally estimated at $2.4 billion, the value of this segment rose 3.5% from the same month a year earlier.
The value of sales of jewellery, watches, clocks and valuable gifts dropped by 17.9%.
Meanwhile, decreases were likewise seen in sales of electrical goods and other consumer durable goods not elsewhere classified (down 10.5%); fuels (down 4.3%); motor vehicles and parts (down 52.6%); books, newspapers, stationery and gifts (down 15.1%); furniture and fixtures (down 26.4%); Chinese drugs and herbs (down 4.6%); and optical shops (down 4.4%).
On the other hand, the value of sales of other consumer goods not elsewhere classified increased by 6.6% in January 2025 over a year earlier. This was followed by sales of commodities in supermarkets (up 4.9%); food, alcoholic drinks and tobacco (up 10.9%); wearing apparel (up 1.2%); medicines and cosmetics (up 4.3%); commodities in department stores (up 0.5%); and footwear, allied products and other clothing accessories (up 7.1%).
The Government commented that the value of total retail sales recorded a much narrower year-on-year decline in January, and turned to an increase on a seasonally adjusted month-to-month comparison, possibly due in part to the early arrival of the Lunar New Year this year.
It would thus be more meaningful to examine the figures for January and February combined, when available, to assess the latest retail sales performance.
Looking ahead, it said that the retail sector’s near-term performance will continue to be affected by changes in the consumption patterns of visitors and residents.
However, it added that increasing earnings from employment, and the introduction of various measures by the central government to boost the Mainland’s economy and benefit Hong Kong, together with proactive efforts by the Hong Kong Special Administrative Region Government to promote tourism and boost market sentiment, will benefit the sector.
