Footwear & clothing accessories retail sales up in July
03 Sep '07
2 min read
The revised estimate of the value of total retail sales in June 2007, at $19.9 billion, increased by 14.3% over June 2006, while the volume of total retail sales increased by 12.8%.
Taking the first seven months of 2007 together, total retail sales increased by 10.0% in value or 7.9% in volume over the same period a year earlier.
Analysed by type of retail outlet and comparing July 2007 with July 2006, This was followed by sales of jewellery, watches and clocks, and valuable gifts (+20.0%); footwear, allied products and other clothing accessories (+19.9%); miscellaneous consumer durable goods (+9.4%); miscellaneous consumer goods (+8.0%); commodities in department stores (+7.7%); furniture and fixtures (+7.3%); wearing apparel (+7.1%); commodities in supermarkets (+4.1%).
Based on the seasonally adjusted series, the volume of total retail sales increased by 5.9% in the three months ending July 2007 compared with the preceding three-month period.
These retail sales statistics are primarily intended to measure the sales receipts of goods sold by local retail establishments, for gauging the short-term business performance of the local retail sector.
They cover consumer spending on goods but not on services. Moreover, they include spending on goods by visitors in Hong Kong but not by Hong Kong residents outside Hong Kong.
Hence they should not be regarded as a comprehensive indicator of overall consumer spending. In this context, it may be noted that the share of consumer spending on services in overall consumer spending has been increasing over time.
marketing@alchempro.com
