Macau's Statistics and Census Bureau (DSEC) has announced this week that the value of retail sales decreased by 16.9 percent year-on-year to 53.48 billion patacas in the first three quarters of the year, corresponding to 95 percent of the level in the same period in pre-pandemic 2019. In the third quarter, the value of retail sales totalled 16.59 billion patacas, up by 2.5 percent as compared with the revised figure (16.19 billion patacas) in the second quarter but down by 15.5 percent year-on-year.
According to a DSEC statement yesterday, the value of retail sales for the first three quarters dropped by 16.9 percent year-on-year; sales values of Watches, Clocks & Jewellery, Leather Goods and Communication Equipment fell by 26.6 percent, 24.4 percent and 24.3 percent respectively, while the sales value of Motor Vehicles increased by 14.4 percent. Meanwhile, the average sales volume index for the first three quarters went down by 21.2 percent year-on-year after removing the effect of price changes; the indices of Watches, Clocks & Jewellery (-35.3 pct), Leather Goods (-26.6 pct) and Communication Equipment (-24.1 pct) saw significant year-on-year drop, whereas the index of Motor Vehicles rose by 15 percent.
In the third quarter, the value of retail sales fell by 15.5 percent year-on-year, with decreases in the sales values of Watches, Clocks & Jewellery (-30.9 pct), Leather Goods (-26.5 pct) and Cosmetics & Sanitary Articles (-23.7 pct); on the other hand, sales values of Motor Vehicles (+37.6 pct) and Communication Equipment (+21.7 pct) increased. Meanwhile, the sales volume index for the third quarter dropped by 19.1 pct year-on-year; the indices of Watches, Clocks & Jewellery (-42.8 pct), Leather Goods (-27.1 pct) and Cosmetics & Sanitary Articles (-25.2 pct) showed a notable fall, whereas the indices of Motor Vehicles (+38.3 pct) and Communication Equipment (+21.6 pct) registered growth.
In respect of retailers’ comments, 45.3 pct of the retailers anticipated a year-on-year decrease in sales volume in the fourth quarter of 2024, 39.5 pct expected the sales volume to stay stable and 15.2 pct forecast an increase. Meanwhile, 68.8 pct of the retailers predicted that the retail prices would remain steady year-on-year in the fourth quarter, 22.2 pct foresaw a decrease and 9 pct expected an increase. As compared with the third quarter of 2024, about 40.4 pct of the retailers expected stable business performance in the fourth quarter, 38.6 pct envisaged a slowdown and 21 pct anticipated a favourable outlook.
- DSEC, MPD
N.B. Sales value refers to the total monetary amount generated from sales. It is calculated by multiplying the selling price of each unit by the number of units sold. Sales volume refers to the total number of units sold within a specific period. It focuses on the quantity rather than the monetary value. Sales value is often used to assess profitability and revenue trends, while sales volume is useful for understanding market demand and inventory management. - Source: Poe
Caption: A pedestrian walks past a shop popular with tourists in the city centre today. - Photo: Carl Leong
