Today (April 3rd), the Hong Kong Census and Statistics Department released data showing that the provisional estimate of the total sales value of the retail sector in February 2024 was 33.8 billion, a year-on-year increase of 1.9%. The revised estimate of the total sales value of the retail sector in January 2024 increased by 0.9% compared to the same period in 2023. Compared to the same period in 2023, the provisional estimate of the total sales value of the retail sector for the first two months of 2024 increased by 1.4%.
In terms of overall sales, the provisional estimate for online sales in February this year was 2.3 billion, accounting for 6.9%, a decrease of 9.9% compared to the same period last year. The revised estimate of online sales value in January this year decreased by 21.2% compared to the same period last year. Compared to the same period last year, the provisional estimate of the total online sales value for the first two months of this year decreased by 15.9%.
After adjusting for price changes, the provisional estimate of the total sales volume of the retail sector in February this year increased by 0.5% compared to the same month last year. The revised estimate of the total sales volume of the retail sector in January this year decreased by 1.2% compared to the same month last year. Compared to the same period last year, the provisional estimate of the total sales volume of the retail sector for the first two months of this year decreased by 0.4%.
Based on the provisional estimate of the sales value of retailers, the sales value for the first two months of this year compared to the same period last year increased by 21.7% for pharmaceuticals and cosmetics; 20.1% for books, stationery, and gifts; 8.8% for jewelry, watches, and luxury gifts; and 10.7% for other uncategorized consumer goods.
