In January, Hong Kong’s total retail sales value was estimated at HK$35.3 billion ($4.5 billion), a 3.2% decrease from the previous year, with a 5.2% drop after adjusting for price changes. Online sales made up 6.9% of the total, rising 3.5% YoY. Key declines included jewelry, watches, and valuable gifts (-17.9%), electrical goods (-10.5%), and motor vehicles (-52.6%). However, sales of consumer goods like food, alcohol, and apparel showed increases, with supermarkets up by 4.9% and food and beverages by 10.9%. The government noted that while January’s retail sales saw a modest decline, the seasonally adjusted month-to-month comparison showed improvement, partly due to the early arrival of Chinese New Year.