Retail sales reach MOP21b in Q2

The value of retail sales leapt by 200.0% year-on-year to MOP20.70 billion in the second quarter (Q2) of 2021, and the sales volume index soared by 219.0% after the effects of price changes are removed.
The significant growth was due to the relatively low base of comparison in the same quarter last year.
Most of the major retail trade activities recorded a year-on-year increase in sales value, with Watches, Clocks & Jewelry (+957.9%), Leather Goods (+504.0%) and Communication Equipment (+460.4%) showing notable year-on-year growth, according to the Statistics and Census Service (DSEC).
In the first half year of 2021, the value of retail sales reached MOP39.46 billion, a rise of 118.4% year-on-year and the sales volume index jumped by 130.4%.
Concerning retailers’ comments, 40.9% of the retailers expect the sales volume to remain stable year-on-year in the third quarter (Q3) of 2021, while 42.9% anticipate a decrease and 16.2% forecast an increase. Meanwhile, 78.0% of the retailers predict that the retail prices would remain steady year-on-year in Q3, 15.3% foresee a decrease and only 6.7% expect an increase. Compared to Q2 of 2021, about 44.7% of the retailers envisage sluggish business in Q3, whereas retailers expecting stable performance (35.7%) and those anticipating a favorable outlook (19.6%) together account for 55.3% of the total. LV