Hong Kong’s retail sales value stood at $29.1 billion in July, representing a 11.8 per cent decline year on year.
The decrease extended a revised reduction of 9.7 per cent in June, according to the Census and Statistics Department (C&SD). July’s online sales accounted for 7.8 per cent of total retail sales.
For the first seven months, retail sales fell 7.3 per cent compared with the same period last year.
A government spokesman attributed the drop to the continued impact of the change in consumption patterns and the strong Hong Kong dollar. More outbound travels by residents during the summer holidays was also one of the factors.
The spokesperson warned that retail challenges will remain in the near term, and that the government will continue to take “various measures” to respond.
In July, most sectors recorded year-on-year drop in sales, including supermarkets (down 4.2 per cent), jewellery, watches and clocks, and valuable gifts (down 25 per cent); wearing apparel (down 16.6 per cent); and food, alcoholic drinks and tobacco (down 4.1 per cent).
Meanwhile, retailers of medicines and cosmetics reported a 3.5 per cent uplift in sales. The books, newspapers, stationery and gifts also saw a 26.1 per cent increase.
