Retail sales volume soared for the sixth consecutive month in January, supported by steady revival in local consumer spending and continued buoyancy in inbound tourism.

The month saw the estimated total retail sales value at $18.2 billion, up 4.1% over a year earlier.

After netting out the effect of price changes over the same period, the overall retail sales volume went up 2.9%.

Festive purchases affect sales 

The revised estimate on the total retail sales value in December was $16.6 billion, up 6.8% in value or 5.8% in volume over a year earlier.

The Census & Statistics Department said the somewhat lesser year-on-year increase in January than in December was conceivably due to the distortion caused by the timing of the Lunar New Year, which fell in late January this year but in early February last year.

Consumers usually make their festive purchases before the Lunar New Year, then there will be a lull in retail business during the Lunar New Year days, as many shops close.

Furniture sales soar

Analysed by type of retail outlets, sales of furniture and fixtures rose the most, by 32.7% in volume.

This was followed by sales of electrical goods and photographic equipment (27.7%); footwear, allied products and other clothing accessories (8.4%); commodities in department stores (6.1%); miscellaneous consumer goods (6%); miscellaneous consumer durable goods (4.9%); commodities in supermarkets (3.1%); and food, alcoholic drinks and tobacco (1.5%).

On the other hand, sales of motor vehicles and parts and of jewellery, watches and clocks, and valuable gifts fell 30.6% and 9% respectively in volume, while sales of fuel and apparel also dipped 8.2% and 1.7% respectively in volume.

Based on the seasonally adjusted series, the overall retail sales volume went up 1.3% in the three months ending January as compared to the preceding three-month period.