按零售商主要类别的销货价值的临时估计由高至低分析，2025年五月与2024年五月比较，其他未分类消 费品的销货价值上升8.9%。其次为超级市场货品(销货价值上升1.3%)；服装(上升0.4%)；食品、酒类饮 品及烟草(上升2.8%)；百货公司货品(上升6.3%)；药物及化妆品(上升8.7%)；电器及其他未分类耐用消 费品(上升0.9%)；汽车及汽车零件(上升2.7%)；书报、文具及礼品(上升1.6%)；以及眼镜店(上升1.4%)。 智通财经APP获悉，7月2日，香港政府统计处今日发表最新的零售业销货额数字。数据显示，2025年五 月香港的零售业总销货价值的临时估计为313亿港元，较2024年同月上升2.4%。2025年四月的零售业总 销货价值的修订估计较2024年同月下跌2.3%。与2024年同期比较，2025年首五个月合计的零售业总销 货价值的临时估计下跌4.0%。 在2025年五月的零售业总销货价值中，网上销售占8.3%。该月的零售业网上销售价值的临时估计为26 亿港元，较2024年同月上升0.3%。2025年四月的零售业网上销售价值的修订估计较2024年同月下跌 3.7%。与2024年同期比较，2025 ...

Group 1 - The core viewpoint of the news indicates a decline in Hong Kong's retail sales value, with April 2025 showing a 2.3% decrease compared to April 2024, and a cumulative decline of 5.6% in the first four months of 2025 compared to the same period in 2024 [1][3] - Online sales accounted for 8.1% of the total retail sales value in April 2025, with an estimated value of 2.3 billion HKD, reflecting a 3.5% decrease from April 2024 [1] - The total retail sales quantity in April 2025 decreased by 3.3% year-on-year, with a cumulative decline of 7.2% in the first four months of 2025 compared to the same period in 2024 [1] Group 2 - By category, supermarket goods saw a 2.4% decline in sales value in April 2025 compared to April 2024, while jewelry, clothing, and automotive parts experienced significant drops of 1.7%, 5.6%, and 53.4% respectively [2] - Conversely, certain categories such as other unclassified consumer goods and pharmaceuticals showed increases in sales value, with rises of 13.4% and 7.2% respectively [2] - Seasonally adjusted retail sales value increased by 4.2% in the three months ending April 2025 compared to the previous three months, indicating a potential recovery trend [2] Group 3 - A government spokesperson noted signs of stabilization in Hong Kong's retail sector, with the decline in April being less severe than in previous months, despite the later timing of the Easter holiday affecting local spending [3] - Future prospects for the retail sector are supported by government initiatives to boost tourism and local employment income, alongside steady growth in the mainland economy [3] - Challenges remain due to macroeconomic uncertainties and shifting consumer patterns, which continue to impact the retail industry [3]

Core Insights - The retail sales value in Hong Kong for March 2025 is estimated at HKD 30.1 billion, a decrease of 3.5% compared to March 2024 [1] - The total retail sales value for January and February 2025 was revised down by 7.8% compared to the same period in 2024 [1] - The estimated total retail sales value for the first quarter of 2025 shows a decline of 6.5% compared to the first quarter of 2024 [1] Retail Sales Breakdown - Online sales accounted for 8.1% of the total retail sales value in March 2025, with an estimated value of HKD 2.4 billion, down 0.5% from March 2024 [1] - The revised online sales value for January and February 2025 decreased by 2.4% compared to the same period in 2024 [1] - The estimated total retail sales quantity for March 2025 fell by 4.8% year-on-year, with a decline of 9.9% for January and February combined [1] Category Analysis - The sales value for jewelry, watches, and luxury gifts decreased by 3.9%, while clothing saw a decline of 10.8% [2] - The automotive sector experienced a significant drop of 46.4%, while furniture and fixtures fell by 17.3% [2] - Conversely, sales for supermarkets increased by 5.2%, and food, alcoholic beverages, and tobacco rose by 7.8% [2] Seasonal Adjustments - The seasonally adjusted retail sales value for the first quarter of 2025 increased by 3.8% compared to the fourth quarter of 2024, while the quantity rose by 2.2% [2] - The government spokesperson noted that the retail sales value for March 2025 showed a further month-on-month increase after seasonal adjustments, indicating a narrowing year-on-year decline [2] Future Outlook - The retail sector is expected to benefit from steady economic growth in mainland China, government initiatives to boost tourism, and rising employment income [3] - However, challenges remain due to increasing uncertainties in the global economic outlook and ongoing changes in consumer behavior [3]