Macau Carnival 2020 closes with total transactions amounting to MOP860m

The 2020 Macau Carnival, also known as Consumer Carnival, closed yesterday with a total transaction figure reaching 860 million patacas this year, the Macao Economic Bureau (DSE) informed.
According to DSE, this year, a total of 16,000 stores participated in the Carnival, an increase of about 50% when compared to 2019.
Following the footsteps of the previous edition and due to the Covid-19 restrictions, the Carnival aimed to promote internal consumption this year, helping to revitalize the economy and continuing to promote mobile payment.
Through a range of mobile payment platforms, that included seven different platforms, citizens were offered electronic consumer coupons which could be used among the participating stores.
According to figures reported by DSE, until January 10, 2021, the number of transactions in the Consumer Carnival in the Peninsula exceeded 740 million patacas, registering a double increase compared to last year.
The seven mobile payment platforms generated a total of 1.64 million electronic consumer coupons, which were worth a total of about 7.1 million patacas.
From these, 4.55 million patacas were already effectively used, injecting it in the market as a form of discount to incentivize consumers to spend and to return to participant stores.
The DSE recalls that the total figure is not yet known as the deadline for the use of electronic consumer coupons, which were issued until yesterday, will be until the end of February. Hence, the bureau expects the number of coupons used will increase until the end of next month.
The DSE also noted that it will continue to encourage local small and medium-sized enterprises (SMEs) to develop mobile business models, creating conditions for innovation and development for SMEs in community neighborhoods and optimize the business environment to boost this type of economy.