Fashion
Macau retail sales plunged 45.1 percent in the first quarter of this year to around US$1.41 billion according to the territory’s Statistics and Census Service.
The huge fall followed the effective closure of the border with Mainland China and the resulting the absence of people venturing to Macau for gambling, shopping and conventions due to the Covid-19 crisis.
The worst-hit Macau retail category was watches and jewelry, down by 57.5 percent, with department-store sales down by 56.4 percent.
Adult apparel sales fell by 52.9 percent and leather goods by 51 percent.
The only retail category to increase sales during the quarter was supermarkets, which surged 14 percent, reflecting the trend towards people preparing food and eating at home to ensure social distancing.
According to the service, the value of Macau retail sales during the March quarter dropped by 45.8 percent compared with the preceding three months.
When gathering retail sales data the Macau government polls businesses on their expectation of trade for the future. After March’s experience, 80 percent of retailers said they expected a decrease in sales during the current June quarter and 13.3 percent expected sales to remain stable. Just 6.2 percent expected an increase.
