Retail sales in Macau registered a significant drop during the first three months of 2020 owing to the Covid-19-related restrictions imposed on visitor entries, a Statistics and Census Service (DSEC) survey has shown.
The survey reveals a year-on-year drop of 45.1% in value and 44.8% in sales volume across almost all retail products, with supermarkets the only exception, as they increased their sales value by 14%, as well as their sales volume, which was up by 11.9%, when compared with the same period last year.
Registering the most significant drops where the sales values of Watches, Clocks, and Jewelry (-57.5%), Department Stores (-56.4%), Adults’ Clothing (-52.9%) and Leather Goods (-51.0%).
Decreases were even clearer in terms of sales volume, with Watches, Clocks, and Jewelry registering a drop of 61%, and similar drops seen in the categories of Department Stores (-54%), Adults’ Clothing (-48%) and Leather Goods (-47%).
In total, the first quarter of 2020 recorded only MOP11.24 billion in sales.
The survey from DSEC also noted that the large majority of retailers said they continued to hold a very pessimistic outlook of the market for the second quarter of this year, with 81% of them forecasting a continuing drop in sales.
On the other hand, 13% of the retailers contacted by the DSEC said they expected sales volumes to remain stable, while only a minority of 6% forecasted an increase in sales volume for April to June.
According to the retailers, prices are likely to remain steady over the second quarter. RM
Survey shows significant drop in retail, supermarkets the exception
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Macau
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