Hong Kong’s retail sector delivered a robust start to 2026, with provisional Census and Statistics Department data showing total retail sales rose 19.3 percent in February year‑on‑year to HK$35 billion. Robust growth was recorded in the luxury sector including jewellery and watches.
The gain, the 10th consecutive month of growth, was driven in large part by a strong performance in jewellery, watches, clocks and valuable gifts saw sales jump around 24–28 percent in February and rose about 27.8 percent for January–February combined, according to official figures and industry reports.
Volume measures also improved markedly The provisional volume of total retail sales climbed 17.5 percent in February, the strongest monthly rise since early 2023, while combined January–February volume was up 9.8 percent. Online retail continued to expand rapidly, accounting for 8.5 percent of sales in February and rising nearly 29 percent year‑on‑year.
The seasonal timing of Chinese New Year (17 February this year versus 29 January in 2025) complicates single‑month comparisons, so authorities stress the combined January–February results are the better gauge. Officials and the trade attribute the jewellery and watch surge to stronger inbound tourism — mainland visitor arrivals surged — and resilient local demand for hard luxury.
Looking ahead, the government expects the economy’s momentum and rising tourist numbers to sustain retail spending, while cautioning that geopolitical tensions could pose downside risks to consumer sentiment.
27-04-2026
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