SEPT RETAIL SALES UP 0.2%

The value of total retail sales in September, provisionally estimated at $28.1 billion, edged up by 0.2% compared with the same month in 2021, the Census & Statistics Department announced today.

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 dropped 1.5% year-on-year.

Of the total retail sales value in September, online sales accounted for 10.2%. Provisionally estimated at $2.9 billion, the value of online retail sales rose 27.5% compared with a year ago.

The value of sales of electrical goods and other consumer durable goods not elsewhere classified increased 14%. This was followed by sales of jewellery, watches and clocks, and valuable gifts (+8.4%); motor vehicles and parts (+26.6%); medicines and cosmetics (+0.5%); fuels (+5.3%); and books, newspapers, stationery and gifts (+9.8%).

On the other hand, the value of sales of commodities in supermarkets decreased 1.6%, followed by sales of food, alcoholic drinks and tobacco (-9.5%); other consumer goods not elsewhere classified (-2.1%); commodities in department stores (-17.6%); wearing apparel (-7.5%); furniture and fixtures (-7.5%); footwear, allied products and other clothing accessories (-5.4%); Chinese drugs and herbs (-3.3%); and optical shops (-3.5%).

The Government said the value of retail sales reverted to a modest year-on-year growth in September, thanks to the notable increase in sales of electrical goods and other consumer durable goods. For the third quarter as a whole, retail sales value increased further by 1.3% year-on-year.

Looking ahead, the Government pointed out that the generally stable local COVID-19 epidemic situation, improving labour market conditions and the Consumption Voucher Scheme will continue to support consumption demand in the near term, but tightened financial conditions will increasingly offset the positive effects.

It remains vital for the community to work together with the Government to contain the epidemic, it added.

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