Hong Kong's retail sales have risen for two consecutive months and are expected to continue to improve

　　China News Service, Hong Kong, March 2 (Reporter Wei Huadu) The Census and Statistics Department of the Hong Kong Special Administrative Region Government announced on the 2nd that the provisional estimate of the total sales value of Hong Kong's retail industry in January 2023 was 36.2 billion yuan (Hong Kong dollars, the same below), a year-on-year An increase of 7%, rising for two consecutive months.

　　Statistics show that online sales accounted for 8.2% of the total value of retail sales in Hong Kong in January this year.

After deducting the price changes during the period, the provisional estimate of the total retail sales volume in January this year rose by 5.1% year-on-year.

　　Analysis of the provisional value of sales by major categories of retailers in descending order, comparing January 2023 with January 2022, the value of sales of other consumer goods not elsewhere classified increased by 6%; jewellery, watches and clocks and valuable gifts increased by 23.1% %; electrical appliances and other unclassified durable consumer goods increased by 13.4%; clothing increased by 14.4%; department store goods increased by 3.9%; drugs and cosmetics increased by 15.3%; automobiles and auto parts increased by 1.3%; footwear, related products and other clothing accessories increased 16%; traditional Chinese medicine increased by 38.5%; books, newspapers, stationery and gifts increased by 20.3%; optical shops increased by 13.8%.

　　According to the Hong Kong Retail Management Association, the value of retail sales recorded a significant increase in January this year, mainly due to the approaching of the Lunar New Year, which drove retail consumption, such as the strong increase in gift items.

The association expects that the retail market in Hong Kong will continue to improve, and the distribution of electronic consumer coupons by the SAR government will also have a boosting effect.

　　A spokesman for the HKSAR Government said that with the improvement in the consumer sentiment, the value of total retail sales in January this year further increased.

It also helps that the Lunar New Year comes early this year.

Looking ahead, the continued recovery of economic activities and a further pick-up in the number of tourists visiting Hong Kong will benefit the retail industry.

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