, Macau

Macau's retail sales down 45.1% in Q1

Majority of merchants expect sales volumes to do worse in Q2.

Macau’s retail sales value plummeted 45.1% YoY to $1.57b (11.24 billion yuan) in Q1 compared to a year earlier, data from the Statistics and Census Service revealed. Sales volume index also dropped by 44.8% YoY over the same period.

Compared with Q1 2019, the sale values of watches and jewelry shrunk 57.5%, whilst department store sale values contracted 56.4%. Adult clothing (-52.9%) and leather goods (-51%) also recorded declines. In terms of sales volume, watches and jewelry crashed 60.7% YoY, followed by department stores (-54.3%), adult clothing (-48.2%) and leather goods (-47.3%).

In contrast, supermarket sales and volumes rose 14% YoY and 11.9% YoY, respectively.

It seems that the worst is yet to come, with 80.5% of merchants expecting sales volumes in Q2 to be lower than the same quarter last year, according to a survey of retailers. This is compared to the 13.3% that believe it will be similar to Q2 2019, and 6.2% who expressed optimism that volumes will rise in Q2.

Meanwhile, 68.1% of merchants predicted that the sales price in the second quarter of 2020 would remain at the same level as last year. Around 27% of merchants believe that prices would fall in Q2. Only 4.9% said that prices will increase.

Further, compared with Q1, about 52.9% of the merchants expected that the operating conditions in Q2, and 47.1% of them think that operating conditions will remain stable (23.9%) or ideal (23.2%).

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Hong Kong’s K11 MUSEA bridges art, culture, and retail
Visitors find top-tier brands and museum-grade art pieces at the cultural-retail landmark.
Meta is investing big in business messaging
Companies can boost sales by reaching more customers on Messenger, Instagram and WhatsApp.
MINISO opens biggest global store in Jakarta
The Chinese retailer aims to hit 1,000 stores in the next five years from about 300 now.