Hong Kong's retail sales growth in December showed a slowdown, although it didn't significantly impact the strong annual improvement. For the entire year, retail sales increased by 16.2 percent in value and 13.8 percent in volume compared to 2022, with a 5.9 percent decrease in online sales as consumers returned to physical stores post-Covid. December's sales rose by 7.8 percent, slower than November's 15.9 percent rate. When adjusted for price changes, December's sales only grew by 4.8 percent year on year. Rising household income and government efforts to promote events were noted as factors supporting retail businesses. In December, watches and jewelry, apparel, and medicines and cosmetics saw notable growth, while spending in supermarkets and electronics declined. For the whole year, watches and jewelry, apparel, medicines and cosmetics, and footwear and accessories were the main growth categories.