Hong Kong’s retail sector extended its recovery into the new year, with January sales rising for a ninth straight month on the back of resilient local spending and a steady flow of visitors.
Provisional government figures show the value of total retail sales climbed 5.5 per cent year on year to HK$37.3 billion in January, beating market expectations and following a 6.6 per cent gain in December.
In volume terms, sales rose 3.4 per cent, a moderation from December’s 5.1 per cent but still signalling solid underlying demand. Officials said the performance reflected “sustained economic recovery momentum” and pointed to further support from inbound tourism in the coming months.
The headline figures masked sharp divergences between categories. Sales of jewellery, watches, clocks and valuable gifts jumped 31.1 per cent from a year earlier, accelerating from December’s 14.3 per cent increase as big‑ticket luxury purchases continued to rebound.
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By contrast, spending on apparel, footwear and related items slumped 19.9 per cent, extending a 10.3 per cent fall in December and underscoring softness in more discretionary, mid‑market segments.
Tourism remained a key pillar. Hong Kong welcomed about 4.81 million visitors in January, up roughly 1 to 1.5 per cent on the same month last year. Arrivals from non-mainland markets rose around 15 per cent to 1.17 million, with long-haul visitors providing a noticeable lift, while mainland travellers still accounted for more than three quarters of the total.
Looking ahead, the government expects “robust economic growth and further increases in visitor arrivals” to underpin retail business, while warning that external uncertainties and changing consumption patterns could weigh on some categories.
For retailers across the Greater Bay Area, January’s figures suggest Hong Kong is consolidating its recovery as a shopping and tourism hub, even as competition intensifies and spending shifts toward experiences and high-end goods.
