March retail sales in Hong Kong surged 40.9 per cent on year as the territory’s retailing sector continued to recover from the Covid-related travel disruption.
The healthy rise followed a revised estimate of 17.3 per cent for the first two months of the year, according to the Census and Statistics Department (C&SD).
First-quarter sales this year are up 24.1 per cent compared with the same period last year.
Of total sales, online accounted for 7.6 per cent of turnover in March, down 8.6 per cent year on year.
The category most impacting March’s sales growth was jewellery, watches and valuable gifts, which soared 165 per cent as Mainland Chinese shoppers returned to the territory.
Apparel sales were up by 136 per cent, food, alcoholic drinks and tobacco up 14 per cent, and sales through department stores were up 37.2 per cent. Medicines and cosmetics rose by 64.4 per cent and footwear and accessories by 187.9 per cent.
The only two categories to decline were supermarket sales – down by 6.5 per cent as people resumed dining out – and electrical goods, down by 8.2 per cent.
A government spokesperson said the recovery of inbound tourism and private consumption should continue to benefit the retail sector and the disbursement of a new round of consumption vouchers will offer further support.
