Macau retail sales surge 12 per cent
Macau retail sales soared 12 per cent in the first three months of this year to MOP16.59 billion (US$2.067 billion).
According to the Statistics and Census Service, sales rose 4.3 per cent compared to the final quarter of 2016, from the revised figure of MOP15.91 billion.
The best-performing sector was watches, clocks and jewellery, up 23.2 per cent. Sales of cosmetics rose 21.8 per cent and of leather goods by 18.6 per cent. Department store sales rose 12.6 per cent and adults’ clothing by 10 per cent.
After removing the effect of price changes,the volume of Macau retail sales increased by 11.5 per cent year-on-year in the first quarter. While Macau retail sales figure include motor vehicles, significantly, that category was down by 12.3 per cent.
Sales of watches, clocks and jewellery rose 18.1 per cent quarter-on-quarter.
Of the first quarter’s sales, by value, watches and jewellery accounted for 23.2 per cent of total sales for the latest quarter, followed by department stores (15 per cent), adult clothing (12.8 per cent), leather goods (11.8 per cent) and supermarket goods (7.1 per cent).
Macau’s Statistics and Census Service said 47.5 per cent of retailers polled anticipate sales in the second quarter of 2017 will be about the same as last year, while 46.9 per cent forecast a decrease and 5.6 per cent expect an increase.
But 75.3 per cent of retailers anticipate retail prices will remain steady during the second quarter.
Quarter-on-quarter, 50.6 per cent of retailers anticipate a stable business performance in the three months to June, while 32.6 per cent expect the business to worsen and 16.8 per cent predict an improvement.