Hong Kong retail sales down 36.1% in April

The plunge was led by sales of jewellery, watches and clocks, and valuable gifts.

The total value of retail sales in Hong Kong crashed 36.1% YoY to $3.11b (HK$24.1b) in April, according to data from the Census and Statistics Department (C&SD). Despite the continuous decline, the latest figures are notably more relaxed compared to the 42.1% YoY drop posted in March.

For the first four months of 2020, the value of total retail sales plunged 35.3% compared with the same period in 2019.

The value of sales of commodities in department stores decreased by 18% YoY, followed by sales of food, alcoholic drinks and tobacco (-14%), other consumer goods (-28.6%), electrical goods and other consumer durable goods (-21.7%), wearing apparel (-63.6%), medicines and cosmetics (-62.9%), jewellery, watches and clocks, and valuable gifts (-76.6%), motor vehicles and parts (-19.2%), fuels (-14.1%), books, newspapers, stationery and gifts (-39.9%), footwear, allied products and other clothing accessories (-55.6%), Chinese drugs and herbs (-35.3%), and optical shops (-43.2%).

On the other hand, the value of sales of commodities in supermarkets jumped 14.4% YoY in April. The sales of furniture and fixtures also inched up 1.6% over the same period.