Hong Kong Retail Sales Rise 7.9% in May on Online Sales Expansion
Hong Kong retail sales increased for a thirteenth straight month in May, supported by steady momentum in digital channels, according to data from the city's Census and Statistics Department released Thursday.Total retail sales for the month grew 7.9% year over year to HK$33.8 billion, albeit slower than the 8.7% year-over-year rise in April.Online sales accounted for 10.1% of the total retail pool during the month. The value of online retail sales was provisionally estimated at HK$3.4 billion, representing a 32.3% surge compared with the same month last year."Sales of most broad types of retail outlet registered growth," a government spokesman said.Among the top-performing categories by value, sales of jewelry, watches, clocks, and valuable gifts surged 25.8% year over year, while other consumer goods not elsewhere classified increased by 14.8%. Electrical goods and other consumer durable items also saw double-digit expansion, climbing 13.0% in value during the month.Other sectors showed more modest growth, with apparel sales edging up 3.0%. In the broader retail spaces, sales in department stores climbed 9.2%, while commodities in supermarkets inched up 0.9%.In contrast, a few segments experienced contractions. Sales of food, alcoholic drinks, and tobacco inched down 0.3% during the period, while fuel sales dropped 12.2% in value, faster than the 11.7% fall in April.Net of the effects of price changes in May, provisional estimates for the total volume of sales in May jumped 4.8% year over year, slower than the 6.5% growth seen in April.Hong Kong's ongoing economic expansion is seen to benefit retail businesses, a government spokesman said.
