Statistics Of The Hong Kong SAR Government: The Value Of Total Retail Sales In July This Year Increased By 4.1% Year On Year

The provisional estimate of the value of total retail sales in July 2022 is HK $28.3 billion (the same below), up 4.1% year-on-year, the census and Statistics Department of the Hong Kong Special Administrative Region announced on the 31st.

According to the data, online sales accounted for 7.9% of the total retail sales value in July this year. The provisional estimate of online sales value of the retail industry in that month was 2.2 billion yuan, up 8.6% year-on-year. After deducting price changes during the period, the provisional estimate of total retail sales for the month increased by 1% year-on-year.

According to the provisional estimates of the sales value of major categories of retailers, compared with the same month last year, supermarket goods increased by 1.7%, jewelry, watches and precious gifts increased by 28.3%, and other unclassified consumer goods increased by 7.7%, Clothing up 3.7% Food, alcoholic drinks and tobacco rose by 2.2%, electrical appliances and other unclassified durable consumer goods increased by 0.6%, drugs and cosmetics increased by 4.5%, and fuel increased by 9%, Footwear, related products and other clothing accessories increased by 2.2% Traditional Chinese medicine rose by 1.2%, and eyewear shops increased by 9.6%.

On the other hand, compared with the same month last year, the value of goods sold in department stores fell by 9.7%, automobiles and auto parts by 11.9%, furniture and fixtures by 3.2%, and books, newspapers, stationery and gifts by 9.2%.

A spokesman for the SAR government said that the moderate increase in the value of total retail sales in July was due to the support for personal consumption brought by the improvement of labor market conditions, and the low base of comparison was also one of the reasons for the year-on-year increase. Looking forward to the future, the second phase of consumer coupons should be able to support consumer demand in the coming months, but the tightening financial situation and the recent epidemic development will also have an impact on the retail industry.

(source: China News Network)