Retail sales in Hong Kong grew by 9.8% year-on-year in March 2026, easing from a near three-year high of 17.5% in the previous month. Sales slipped in food, alcoholic drinks and tobacco (-0.4% vs 17.6% in February), particularly fish, livestock and poultry, and fresh or frozen food (-0.9% vs 3.2%), bread, pastry, confectionery and biscuits (-6.5% vs 24%), and other food not elsewhere classified (-2.3% vs 29.8%). The slowdown in overall retail sales growth was also driven by supermarkets (0.7% vs 14.2%), clothing, footwear and allied products (7.7% vs 18.7%), department stores (1.3% vs 31.8%), and other consumer goods (10.6% vs 21.9%). Moreover, sales continued to fall for fuels (-27.5% vs -18.3%). Meanwhile, sales increased at a faster pace for consumer durable goods (42.4% vs 24.1%) and jewelry, watches and clocks, and valuable gifts (5.7% vs 4.4%). On a monthly basis, retail sales declined 4.7%, easing from a 6% drop in February.