HK retail sales surge 12.8% in March

Hong Kong's retail sales jumped 12.8% in March 2026 compared to the same month last year, reaching HK$33.9 billion. For the first quarter as a whole, retail sales rose 12.1% year-on-year.

According to the latest figures released by the Census and Statistics Department (C&SD), the revised estimate of the combined value of total retail sales in January and February 2026 increased by 11.8% compared with the same period a year earlier. Meanwhile, March marked the 11th consecutive month of growth.

After adjusting for price changes, the provisional estimate of total retail sales volume rose 9.8% in March 2026 year-on-year. The revised estimate for January-February 2026 also increased by 9.8%, and the first quarter of 2026 saw the same 9.8% growth in volume compared with a year earlier.

Of the total retail sales value in March 2026, online sales accounted for 9.7%. The value of online retail sales in that month, provisionally estimated at HK$3.3 billion, increased by 35.1% compared with the same month in 2025. 

Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing March 2026 with a year earlier, the value of sales of other consumer goods not elsewhere classified increased by 18.1%. 

This was followed by sales of jewellery, watches and clocks, and valuable gifts (+27.2% in value); commodities in supermarkets (+0.6%); electrical goods and other consumer durable goods not elsewhere classified (+30.1%); medicines and cosmetics (+3.1%); wearing apparel (+8.3%); food, alcoholic drinks and tobacco (+1%); commodities in department stores (+1.3%); motor vehicles and parts (+80.8%); books, newspapers, stationery and gifts (+3%); furniture and fixtures (+0.6%); and optical shops (+7.4%).

On the other hand, fuel sales value decreased by 14.2% in March 2026 compared with a year earlier. This was followed by sales of Chinese drugs and herbs (-5.4% in value); and footwear, allied products and other clothing accessories (-10.2%).

Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales increased by 7.8% in the first quarter of 2026 compared with the preceding quarter, while the provisional estimate of the volume of total retail sales increased by 5.4%.

Don’t miss: HK retail sales jump 19.3% in February as online shopping rises

A government spokesman said that retail sales continued to strengthen in March. The value of total retail sales increased by 12.8% over a year earlier, with growth in sales of most broad types of retail outlet. Among the various types, sales of motor vehicles showed particularly strong growth, as purchases spiked before the expiry of the first registration tax concessions for electric private cars at end-March.

Looking ahead, the near-term outlook for retail sales is broadly positive, underpinned by recovering local demand, sustained growth in inbound tourism, and a favourable macro-financial environment. The government will continue to monitor the downside risk arising from the evolving geopolitical tensions, for any potential implications for consumer spending in the local market.

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