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Macau retail sales up 200 percent in second quarter

Macau retail

Retail sales in value terms in Macau quadrupled in the second quarter of 2021, compared to the same period last year, as tourists returned following the easing of travel restrictions in the region, Macau’s Statistics and Census Service (DSEC) showed on 23rd August.

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Macau’s retail sales for the quarter totalled US$2.58 billion, up 200 percent year-on-year, pushed on by the sales values of watches, clocks and jewellery, leather goods and
communication equipment, recording year-on-year growth of 957.9 percent, 504 percent and 460.4 percent, respectively, according to the DSEC.

However, supermarkets witnessed an 11.3 percent decline, it added. Moreover, retail sales in value terms in the second quarter rose by 10.3 percent, compared with the revised figure of US$2.3 billion in the first quarter.

For the first half of 2021, retail sales in value terms in Macau reached US$4.9 billion, an uptick of 118.4 percent year-on-year, while the sales volume index jumped by 130.4 percent.

The half yearly sales uptick comes after the region recorded a double-digit retail sales slump in 2020. Last year, the total value of retail sales decreased by 41.5 percent year-on-year to US$5.6 billion.

Looking ahead, 40.9 percent of retailers expected sales volume to stay flat year-on-year in the third quarter of 2021, while 42.9 percent anticipated a decrease and 16.2 percent forecasted an increase.

Meanwhile, 78 percent of retailers predicted that the retail prices would remain steady year-on-year in the third quarter, 15.3 percent foresaw a decrease and only 6.7 percent expected an increase.

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In comparison with the second quarter, some 44.7 percent of retailers were planning for sluggish business in the third quarter, whereas retailers expecting stable performance (35.7 percent) and those anticipating a favourable outlook (19.6 percent) together accounted for 55.3 percent of the total.