In March, the total retail sales value in Hong Kong was provisionally estimated at HK$30.1 billion, a year-on-year decrease of 3.5%.

On May 2, the Census and Statistics Department of the Hong Kong Special Administrative Region Government released the latest retail sales figures. The provisional estimate of the total value of retail sales in March 2025 was HK$30.1 billion, down 3.5% compared to the same month in 2024. The revised estimate of the total value of retail sales in January and February 2025 combined was down 7.8% compared to the same period in 2024. Compared to the same period in 2024, the provisional estimate of the total value of retail sales for the first quarter of 2025 dropped by 6.5%. In March 2025, online sales accounted for 8.1% of the total value of retail sales. The provisional estimate of the value of online retail sales in that month was HK$2.4 billion, a decrease of 0.5% compared to the same month in 2024. The revised estimate of the value of online retail sales in January and February 2025 combined was down 2.4% compared to the same period in 2024. Compared to the same period in 2024, the provisional estimate of the value of online retail sales for the first quarter of 2025 dropped by 1.7%. After adjusting for price changes, the provisional estimate of the total volume of retail sales in March 2025 decreased by 4.8% compared to the same month in 2024. The revised estimate of the total volume of retail sales in January and February 2025 combined was down 9.9% compared to the same period in 2024. Compared to the same period in 2024, the provisional estimate of the total volume of retail sales for the first quarter of 2025 dropped by 8.3%. Analyzing the provisional estimate of sales value by major category of retailers, comparing March 2025 with March 2024, sales value of jewelry, watches, and precious gifts decreased by 3.9%. This was followed by clothing (down 10.8%); goods sold by department stores (down 5.0%); automobiles and auto parts (down 46.4%); fuels (down 3.9%); footwear, related products, and other clothing accessories (down 7.7%); Chinese medicine (down 1.0%); books, stationery, and gifts (down 0.9%); furniture and fixtures (down 17.3%); and eyewear stores (down 2.7%). On the other hand, comparing March 2025 with March 2024, the sales value of other unspecified consumer goods rose by 0.6%. This was followed by supermarket goods (up 5.2%); drugs and cosmetics (up 1.2%); food, alcoholic beverages, and tobacco (up 7.8%); and appliances and other unspecified durable consumer goods (up 6.7%). Comparing the first quarter of 2025 with the fourth quarter of 2024, the provisional estimate of the seasonally adjusted total value of retail sales increased by 3.8%, while the provisional estimate of the seasonally adjusted total volume of retail sales increased by 2.2%. A government spokesperson stated that after seasonal adjustment, the total value of retail sales in March 2025 increased further compared to the previous month, and the year-on-year decline continued to narrow. In the first quarter, the total value of retail sales recovered with a month-on-month increase after seasonal adjustment. Looking ahead, the spokesperson pointed out that the steady growth of the mainland economy, government initiatives to stimulate consumption through tourism and major events, and rising employment income will continue to support the retail industry. However, the increasing uncertainty in the global economic outlook and the ongoing impact of changing consumer patterns will bring challenges to the retail industry.