Retail sales value drops 11.3% YoY in July

Retail sales volume also dropped 13.3% YoY.

Retail sales value dropped 11.8% year-on-year (YoY) in July, the Census & Statistics Department (C&SD) reported.

Retail sales value for July was provisionally estimated at $29.1b. After adjusting for price changes, retail sales volume in the month was down 13.3% YoY.

Online sales accounted for 7.8% of the total retail sales. Provisionally estimated at $2.3b, the value of online retail sales increased 1% YoY. 

In addition, the value of sales of medicines and cosmetics rose 3.5% YoY whilst the sales of books, newspapers, stationery, and gifts were up 26.1%.

The biggest decline in sales was recorded in the motor vehicles and parts category (-27.9%), followed by jewellery, watches and clocks, and valuable gifts (-25%); Chinese drugs and herbs (-24.9%); commodities in department stores (-24.3%), furniture and fixtures (-22.4%); footwear, allied products and other clothing accessories (-17.9%); apparel (-16.6%); and optical items (-15.7%).

Meanwhile, some categories also recorded slight declines in sales including other consumer goods not elsewhere classified (-6%); fuels (-9.8%); commodities in supermarkets (-4.2%); food, alcoholic drinks, and tobacco (-4.1%); and electrical goods and other consumer durable goods not elsewhere classified (-4.1%).