A 33 per cent boost in sales of electronic devices and cameras helped power a major increase in Hong Kong retail sales in September.
Census and Statistics Department (C&SD) data released this week showed the total value of retail sales in September 2011, provisionally estimated at $31.2 billion, increased by 24.1 per cent over a year earlier. After netting out the effect of price changes over the same period, the volume of total retail sales increased by 15.2 per cent compared with a year earlier.
In late September, Apple opened its first Hong Kong flagship superstore, which may have contributed marginally to the strong rise in electronics sales, but clearly there was an upward trend across almost all major retail categories.
According to the C&SD, in volume terms, the second best performing category was jewellery, watches and clocks, and valuable gifts (up 28.9 per cent), apparel (up 23.1 per cent), miscellaneous consumer durable goods (up 21.7 per cent), ‘commodities’ in department stores (up 14.6 per cent), miscellaneous consumer goods (up 14.5 per cent), footwear and clothing accessories (up 9.9 per cent) and supermarket sales (up 7.4 per cent).
The only categories in decline were food, alcoholic drinks and tobacco, down 9.5 per cent, and furniture and fixtures, down 4.3 per cent (comparing September year on year).
C&SD reported that for the first nine months of 2011, total retail sales increased by 25.4 per cent in value and 19.2 per cent in volume over the same period a year earlier.
A government spokesman noted that retail sales expanded appreciably with a double-digit growth in September, as local consumption demand and tourist spending stayed fairly vibrant.
The spokesman said that looking ahead, while the prevailing strength of inbound tourism and a buoyant labour market should continue to render some support to the retail business, the SAR “needs to stay vigilant to the mounting uncertainties on the external front and how they will impact the local economy and consumer confidence going forward”.
Footnote: More detailed statistics are given in the Report on Monthly Survey of Retail Sales. Users can download this publication free of charge at the website of the C&SD .
