Retail sales value inched higher by 8.5%

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According to the Census & Statistics Department, total retail sales value in November, provisionally estimated at $39.6 billion, rose 8.5% over a year earlier.

After netting out the effect of price changes over the same period, total retail sales volume increased 9%.

Analysed by broad type of retail outlet and comparing November 2013 with November 2012, miscellaneous consumer durable goods' sales volume increased the most, by 73.1%.

This was followed by jewellery, watches and clocks, and valuable gifts (+13.3% in volume); sales of commodities in department stores (+9.7%); medicines and cosmetics (+8.0%); optical shops (+8%); wearing apparel (+7.6%); footwear, allied products and other clothing accessories (+6.4%); books, newspapers, stationery and gifts (+4.9%); commodities in supermarkets (+3.6%); food, alcoholic drinks and tobacco (+3.2%); Chinese drugs and herbs (+3.1%); and other consumer goods (+1.7%).

Furniture and fixtures' sales volume fell 7.5%, while that of motor vehicles and parts fell 7.4%.

Retail sales showed faster year-on-year growth in November, largely due to positive consumer sentiment and further expansion of inbound tourism.

For the first 11 months of 2013, total retail sales rose 11.6% in value and 11.1% in volume year-on-year.

Stable job and income conditions, and sustained growth of inbound tourism should continue to support the retail business in the near term. However, external economic developments may affect consumer sentiment and retail business in future, the department noted.