The temporary estimate of the total sales value of the retail industry in Hong Kong in February was 29.4 billion Hong Kong dollars, a year-on-year decrease of 13.0%.

According to the latest statistics from the Hong Kong government, the preliminary estimate of the total sales value of the retail industry in Hong Kong in February 2025 was HK$29.4 billion, a decrease of 13.0% compared to the same month in 2024. The revised estimate of the total sales value of the retail industry in January 2025 decreased by 3.1% compared to the same month in 2024. The preliminary estimate of the total sales value of the retail industry in the first two months of 2025 decreased by 7.8% compared to the same period in 2024. A government spokesperson stated that after seasonal adjustments, the total sales value of the retail industry in February 2025 further increased compared to the previous month. The year-on-year decline in the total sales value of the retail industry in February 2025 widened, partly due to the earlier arrival of the Lunar New Year this year at the end of January compared to mid-February last year. When combined with the figures of the first two months of 2025 to eliminate this impact, the year-on-year decline in the total sales value of the retail industry narrowed compared to December 2024. In February 2025, online sales accounted for 7.8% of the total sales value of the retail industry in Hong Kong. The preliminary estimate of the online sales value of the retail industry in that month was HK$2.3 billion, a decrease of 7.3% compared to the same month in 2024. The revised estimate of the online sales value of the retail industry in January 2025 increased by 2.8% compared to the same month in 2024. The preliminary estimate of the total sales quantity of the retail industry in Hong Kong in February 2025 decreased by 15.0% compared to the same month in 2024 after adjusting for price changes. The revised estimate of the total sales quantity of the retail industry in January 2025 decreased by 5.1% compared to the same month in 2024. The preliminary estimate of the total sales quantity of the retail industry in the first two months of 2025 decreased by 9.9% compared to the same period in 2024. It is important to note that the sales volume in the retail industry during the first two months of each year tends to fluctuate due to the timing of the Lunar New Year, with consumer spending in the local market typically peaking before this holiday. Since the Lunar New Year fell on January 29 this year but on February 10 last year, it would be more appropriate to combine and analyze the sales figures for January and February when making year-on-year comparisons. Analyzing the temporary estimates of sales value by major categories of retailers from high to low, the total sales value of other uncategorized consumer goods decreased by 2.0% in the first two months of 2025 compared to the same period in 2024. This was followed by a decrease in the sales value of jewelry, watches, and luxury gifts by 15.8%; supermarket goods by 4.4%; clothing by 5.4%; electrical appliances and other uncategorized durable consumer goods by 5.3%; department store goods by 9.9%; fuel by 8.5%; cars and auto parts by 49.9%; footwear, related products, and other clothing accessories by 12.3%; newspapers, stationery, and gifts by 10.9%; furniture and fixtures by 25.6%; Chinese medicine by 9.1%; and optical goods by 7.6%. On the other hand, the sales value of food, alcoholic beverages, and tobacco increased by 0.7% in the first two months of 2025 compared to the same period in 2024, followed by an increase in the sales value of drugs and cosmetics by 0.6%. As of the end of February 2025, the preliminary estimate of the total sales value of the retail industry adjusted for seasonality decreased by 2.0% compared to the previous three months, while the preliminary estimate of the total sales quantity of the retail industry adjusted for seasonality decreased by 4.0%. Looking ahead, the spokesperson pointed out that various measures introduced by the Central Government to boost the mainland economy and benefit Hong Kong, along with the Hong Kong government's efforts to promote tourism and major events, as well as the continuous growth of employment income in the local labor market, are favorable for the retail industry, although the industry will continue to face challenges in adapting to changes in consumer patterns among tourists and local residents.