Retail sales in June increase 14.7pc
Spending on luxury items by mainland tourists and locals lifts year-on-year take to HK$39.9b
Strong inbound tourism and steady spending by local consumers delivered double-digit year-on-year growth in retail sales in June, according to the latest figures from the Census and Statistics Department.
The value of total retail sales in June jumped 14.7 per cent compared to a year earlier to an estimated HK$39.9 billion, it said in a regular data release.
Jewellery, timepieces, and valuable gift sales saw the biggest year-on-year rise, surging 43.7 per cent, followed by department store goods, up 29.2 per cent, and optical shops, which saw a 24.5 per cent increase.
On the downside, sales of motor vehicles and parts fell 14.8 per cent compared to the year before. Electrical goods and photographic equipment decreased by 11.8 per cent. Sales of food, alcohol, tobacco, and furniture also saw slight dips.
Sales of beauty, cosmetics, and healthcare products and watch and jewellery items were the best performing cate- gories for June, recording double-digit growth largely thanks to spending by mainland visitors.
The outlook for July data is considerably lower than June as seasonal factors begin to influence spending patterns.