By Coconuts Hong Kong December 3, 2014 / 14:42 HKT
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The value of total retail sales for October of this year was HKD38.3 billion, a 1.4 percent increase over the same period last year. When accounting for price changes, the increase comes out to 4.3 percent, according to the Census and Statistics Department.
However, total retail sales from January through October have decreased by 0.2 percent compared to the same time frame a year ago.
Compared to October 2013, the types of retail goods that had the most increase in sales were “miscellaneous consumer durable goods” (which increased by 67.0 percent) and electrical and photographic goods (24.6 percent).
However, the sales of luxury items like jewellery, watches, clocks and expensive gifts in October decreased by 11.6 percent compared to last year. Clothing retail also dropped by 8.8 percent.
The revised figures for retail sales for September of this year showed that there was an increase of 6.6 percent compared to September of last year, when accounting for price changes.
Despite the overall increase in retail sales, a government spokesman noted that retail sales were weakened in October, and that the sale of items linked to local consumption was "lacklustre", which "conceivably reflects the adverse impacts of the 'Occupy Movement' on consumer sentiment".
The spokesman added that retail sales continue to “hinge on the impact of the protests” on both local and tourist shoppers.
Photo: Chris via Flickr
http://hongkong.coconuts.co/2014/12/03/hong-kong-retail-48-october-government-blames-umbrella-movement-poor-consumer-sentiment
