A government spokesman attributed the sharp fall to worsening pandemic development and tightened Covid-19 curbs, which led to “a drastic fall in people flow and weaker consumption sentiment.”

The combined value of retail sales of the first two months of this year fell by 4.9 percent at HK$59 billion when compared to the same period of last year.

Sales of motor vehicles and parts in January and February registered the largest decline of 23.1 percent to HK$2.1 billion, when compared with the same period a year earlier.

It was followed by a 15.6 percent decrease for optical shops; 13.1 percent for jewelry, watches and clothes, 13.1 percent for valuable gifts; and 15.5 percent for clothing, footwear and allied products.

Online sales, totaling HK$2.7 billion, accounted for 10.8 percent of the total retail sales in February. There was a 50 percent increase year-on-year, as more people shifted to online shopping for groceries and daily necessities at the height of the fifth wave of outbreak.

The spokesman added while the local pandemic develop showed signs of easing, the retail sector will continue to face “notable pressure” in the near term.

He also expected relief measures including the new round of electronic consumption vouchers would provide support to the retail sector.