Koi Kei bakery raises employee pay despite economic downturn

Local souvenir chain Koi Kei Bakery is increasing basic salaries for employees by MOP1,000 starting in July, according to an internal memo, as the retail sector faces challenges from declining tourism spending. The company, which operates 21 stores selling Macau and Chinese snacks, says it made the decision despite a 30% drop in average transaction value and the Statistics and Census Service reporting a 12.4% month-on-month and 32.3% year-on-year fall in retail sales for April. The pay boost follows an order requiring Macau’s casino operators to stop providing free snacks, which is a move intended to help local small businesses who are hurt by the perks.