Hong Kong’s retail sales value rose 4.5% year on year in July 2026, extending a 15-month run of annual growth, according to RTHK. Retail Management Association chairwoman Annie Yau Tse nevertheless said trading conditions remained weak.
The reported value of July’s sales differs between the two reports. RTHK put the total at HK$31 billion, while Star Headline cited a provisional estimate of HK$33 billion. The reports did not explain the difference.
Growth was stronger in online and specified high-value categories. Online purchases accounted for 9.1% of total retail sales, reaching HK$2.8 billion after rising 9.5% from July 2025. Sales of jewellery, watches and clocks, and valuable gifts increased by nearly 20% year on year.
Yau attributed the weaker-than-desired performance to frequent rain, thunderstorms and typhoons, which reduced visits from mainland China, as well as increased overseas travel by Hong Kong residents. She described the effect as a “double hit” for retailers, with visitor spending and local consumption both affected.
The Hong Kong government took a more positive view of the outlook, pointing to continued economic expansion, rising household incomes, a stable labour market and upcoming mega events. It also said the faster growth in online sales suggested a shift towards digital consumption.
RTHK reported that Yau said August trading remained below retailers’ expectations despite improved weather. Hong Kong residents were still travelling abroad, while inbound tourists were spending relatively little. Official August retail-sales figures were not included in the reports.