Ka-ching!: Retail sales in September up 24.1%
The volume of sales of electrical goods and photographic equipment increased the most with 33% growth.
The Census and Statistics Department said the value of total retail sales in September 2011, provisionally estimated at $31.2 billion, increased by 24.1% over a year earlier. After netting out the effect of price changes over the same period, using relevant components of the Consumer Price Index as deflators, the volume of total retail sales increased by 15.2% in September 2011 when compared with a year earlier.
The Department reported:
| Analysed by broad type of retail outlet and comparing September 2011 with September 2010, the volume of sales of electrical goods and photographic equipment increased the most, by 33.0%. This was followed by sales of jewellery, watches and clocks, and valuable gifts (+28.9% in volume); wearing apparel (+23.1%); miscellaneous consumer durable goods (+21.7%); motor vehicles and parts (+16.1%); commodities in department stores (+14.6%); miscellaneous consumer goods (+14.5%); footwear, allied products and other clothing accessories (+9.9%); and commodities in supermarkets (+7.4%). On the other hand, the volume of sales of food, alcoholic drinks and tobacco and that of furniture and fixtures decreased by 9.5% and 4.3% respectively in September 2011 when compared with a year earlier, while the volume of sales of fuels also decreased by 0.9%. |
It was noted, however, that these retail sales statistics are primarily intended to measure the sales receipts in respect of goods sold by local retail establishments, for gauging the short-term business performance of the local retail sector.
“They cover consumer spending on goods but not on services. Moreover, they include spending on goods by visitors in Hong Kong but not by Hong Kong residents outside Hong Kong. Hence they should not be regarded as a comprehensive indicator of overall consumer spending,” said the Census and Statistics Department.
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