Statistics | Retail sales drop by 11 pct in Q1

The value of retail sales dropped by 11 pct year-on-year in the first quarter of 2015, according to data released by the Statistics and Census Service (DSEC).
The most significant declines were recorded in the sales of watches, clocks & jewelry (down by 31 pct), leather goods (down by 28 pct), goods in department stores (down by 13 pct) and motor vehicles (down by 13 pct). On the other hand, sales of communication equipment soared by 56 pct, and sales of cosmetics & sanitary items rose by 18 pct.
Retail sales for this year’s first quarter reached MOP16.41 billion, down by five pct quarter-to-quarter.
Retail sales of watches, clocks & jewelry (MOP3.73 billion) accounted for 23 pct of the total, followed by retail sales of goods in department stores (15 pct), adult clothing (11 pct), leather goods (10 pct), goods in supermarkets (7 pct) and in motor vehicles (5 pct).
The volume of retail sales for the first quarter declined by three pct quarter-to-quarter. Leather goods (down by 14 pct), Chinese food products (down by 14 pct), watches, clocks & jewelry (down by 13 pct) and motor vehicles (down by 12 pct) recorded significant declines. The volume of retail sales of communication equipment increased by 25 pct quarter-to-quarter.
Fifty-nine pct of surveyed retailers reported a quarter-to-quarter decrease in sales volume in this year’s first quarter, while 41 pct of respondents stated that sales volume had either increased or remained steady.
Regarding the retail business outlook for the second quarter, 49 pct of retailers predicted that the sales volume would remain stable, while 33 pct forecast a decrease and 18 pct anticipate that sales volume will increase. About 77 pct of retailers forecast stable prices, while 15 pct predict a decrease and eight expect an increase. CP