| What do Retail Sales statistics measure? |
- Retail sales statistics measure the level and trend of the sales of goods sold by local establishments primarily engaged in retail trade.
- Retail sales statistics are compiled using data collected from the Monthly Survey of Retail Sales. Local retail establishments with and without physical shops are covered in the survey and their sales, both through conventional shops and online channels, are included in the retail sales statistics.
- The Census and Statistics Department selects a scientific sample of around 3 000 retail outlets for enumeration each month. The sales data thus collected are used for estimating the total retail sales value for each type of retail outlet and that of the whole retail sector.
- The volume of retail sales measures the trend of the sales of goods sold by retail outlets after adjusting for price changes. The relevant components of the Consumer Price Index are used as deflators.
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| What are the uses of Retail Sales statistics? |
- Retail sales statistics provide a prompt economic indicator which reflects the short-term business performance of the retail sector.
- Business analysts may use retail sales statistics in conducting marketing research, analysing the changes in business performance of different types of retail outlets so as to identify business opportunities.
- The statistics also contribute to the estimation of Gross Domestic Product (GDP).
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| Should Retail Sales figures be taken as an indicator of consumer spending? |
- 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 also throw light on the consumer spending on goods.
- However, consumer spending covers not only goods but also various services: housing, transportation, education, medical and health care, recreation and entertainment, etc. Consumers also pay for their electricity, gas and water bills, which are not captured in the retail sales statistics.
- Moreover, retail sales statistics include spending on goods by visitors in Hong Kong, but do not include spending on purchase of goods by Hong Kong residents from retail outlets outside Hong Kong.
- Hence retail sales statistics should not be regarded as a comprehensive indicator of overall consumer spending.
- Users interested in the trend of overall consumer spending should refer to the quarterly series of private consumption expenditure (PCE), which is a major component of GDP.
- Compiled from a wide range of data sources, PCE covers consumer spending on both goods (purchased from all channels) and services by Hong Kong residents whether domestically or abroad.
- There was an increasing trend in the share of consumer spending on services in overall consumer spending in earlier years. At present, consumers spend relatively more on services than on goods.
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| How should the different movements of the Retail Sales and PCE series be interpreted? |
- The retail sales and PCE series may not necessarily be very close in terms of trends and fluctuations. Some of the reasons are:
- As an economy becomes more affluent, consumers spend relatively more on services than on goods. For example, the average proportion of household expenditure on food (in particular food for meals prepared at home) is smaller than what it used to be some decades ago; new items like charges for mobile phone services and Internet services now also appear in the spending list of an average household.
- For households in general, a certain proportion of consumption items in PCE are "necessities" such as housing, transportation, medical and education services. On the other hand, retail sales are also affected by shopping activities of visitors in Hong Kong.
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| How to obtain information on Retail Sales and GDP |
- The Census and Statistics Department issues monthly press releases to disseminate the latest figures on retail sales and quarterly press releases to disseminate the latest figures on GDP and its expenditure components. The following publications contain the details:
- Report on Monthly Survey of Retail Sales
- Gross Domestic Product (Quarterly)
- Gross Domestic Product (Annual)
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