NOV RETAIL SALES UP 7.1%

The value of total retail sales in November, provisionally estimated at $30.7 billion, rose 7.1% compared with the same month in 2020, the Census & Statistics Department announced today.

Of the total retail sales value in November, online sales accounted for 11.2%. Provisionally estimated at $3.4 billion, the value of online retail sales increased 27.6% year-on-year.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month increased 4.2% compared with a year earlier.

The value of sales of electrical goods and other consumer durable goods, not elsewhere classified increased 0.5%.

This was followed by sales of commodities in department stores (+9.3% in value); other consumer goods, not elsewhere classified (+25.2%); jewellery, watches and clocks, and valuable gifts (+14.4%); wearing apparel (+17.9%); medicines and cosmetics (+12.9%); motor vehicles and parts (+4.2%); fuels (+11.6%); footwear, allied products and other clothing accessories (+9.6%); books, newspapers, stationery and gifts (+2%); Chinese drugs and herbs (+11.4%); and optical shops (+9.1%).

The value of sales of commodities in supermarkets decreased 3.2% for the period, followed by sales of food, alcoholic drinks and tobacco (-3.9% in value); and furniture and fixtures (-1%).

The Government said that the value of total retail sales stayed above $30 billion in November, yielding a further year-on-year increase of 7.1%, as consumption sentiment remained positive thanks to the entrenched economic recovery and the Consumption Voucher Scheme.

Looking ahead, the Government noted that provided the local epidemic situation remains under control, the improving economic and labour market conditions should continue to provide support to the retail sector.

To strengthen the foundation for a faster and broad-based economic recovery, it is essential for the community to strive towards more widespread vaccination and abide by the anti-epidemic measures, it added.

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