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Hong Kong retail sales fall for ninth straight month, with 7.3% drop in November

Government attributes decline to change in consumption patterns and strong Hong Kong dollar

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Customers at the Hong Kong Brands and Products Expo at Victoria Park in Causeway Bay in December. Photo: Eugene Lee

Hong Kong’s retail sales dropped for a ninth consecutive month in November, falling by 7.3 per cent, year on year.

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Provisional estimates from the Census and Statistics Department on Thursday put the total value of retail sales at HK$31.7 billion (US$4 billion) for the month.

A government spokesman said the value of retail sales continued to decline “alongside the change in consumption patterns and the relatively strong Hong Kong dollar” – factors that would continue to weigh on the performance of the retail sector.

A breakdown of the provisional data showed the value of sales in apparel had fallen by 7.5 per cent, year on year. Sales of jewellery, watches and clocks, and valuable gifts also slipped by 5.4 per cent.

Other areas with poor performance included motor vehicles and parts, which were down by 34.4 per cent year on year, and furniture and fixtures, which fell by 20.5 per cent. Sales of Chinese drugs and herbs plummeted by 19.3 per cent. Sales of electrical goods and other consumer durable goods also decreased by 18 per cent.

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Few categories bucked the trend and showed positive growth, with the sale of supermarket goods increasing by 3.5 per cent in November, compared with the same month in 2023.

One improvement was in the category of alcoholic drinks and tobacco, which registered a 47.7 per cent year on year surge, although Hong Kong Retail Management Association chairwoman Annie Tse Yau On-yee said the rise was driven by the higher tobacco tax imposed last February.

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