HK retail sales could rise by 8.4pc in 2026: Deloitte
Accounting giant Deloitte on Monday raised its full-year forecast for the city's retail sales to a growth of 8.4 percent year on year to HK$412 billion in 2026. The figure is slightly higher than a prediction made in February when the company forecast that total sales would stand at HK$410 billion for the year. The upgrade also means there could be a seven-percent annual growth rate in the second…
Deloitte, a leading accounting firm, has raised its forecast for Hong Kong's retail sales to an 8.4% year-on-year growth in 2026, reaching HK$412 billion. This projection, slightly higher than the February estimate of HK$410 billion, suggests a potential seven-percent annual growth rate in the second half of the year. In the first six months of 2026, retail sales grew by 9.7% to HK$203 billion.
Deloitte China's Hong Kong consumer market business leader, Michael Cheng, attributed the strong first-half performance to high visitor numbers, positive wealth effects, and increasing demand for AI-enabled gadgets and smart-home products. However, he cautioned that the growth rate might decelerate in the coming months due to global economic uncertainties, US mid-term elections, and Middle East geopolitical tensions.
Cheng also noted that it may take three to five years for Hong Kong's retail market to regain its previous peak of HK$490 billion, but remained optimistic about the outlook, citing an easing trend of Hongkongers traveling north for shopping. He suggested that retailers consider offering "micro luxury" items to budget-conscious consumers and providing personalized experiences to attract young customers, particularly Gen Z.
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