Q3 Macau retail sales rise
In this article (5)
Third-quarter Macau retail sales surged 12.8 per cent year on year to 18.19 billion patacas (US$2.26 billion), according to data from the SAR’s Statistic Department. However, possibly reflecting the timing of typhoons last year and this year, sales rose only 1 per cent quarter on quarter. Watches and jewellery accounted for 21 per cent of total spending during the quarter. Department stores accounted for 16.3 per cent of the market and apparel 13 per cent.
The increase in third-quarter Macau retail sales was driven by department stores, up 23.1 per cent, communications equipment (up 19.8 per cent) and pharmacy goods, up 19.4 per cent.
For the first nine months of this year, Macau retail sales rose by 20.8 per cent.
However the Statistics Department’s data suggests retailers have modest expectations for the rest of the year. Just 16 per cent of retailers questioned expect an increase in sales for the three months to December, compared with 38.2 per cent who expect a decline and 45.8 per cent who expect sales to remain steady.
Questions & Answers
Q.Which retail categories saw the most significant growth in the third quarter?
Which retail categories saw the most significant growth in the third quarter?
Department stores, communications equipment, and pharmacy goods were the main drivers of the third-quarter sales increase. Department store sales rose by 23.1 per cent, communications equipment by 19.8 per cent, and pharmacy goods by 19.4 per cent.
Q.What proportion of total spending did watches and jewellery represent in Q3?
What proportion of total spending did watches and jewellery represent in Q3?
Watches and jewellery accounted for 21 per cent of all spending during the third quarter. This makes it a significant category within Macau's retail market during that period.
Q.What are retailers' expectations for sales performance for the remainder of the year?
What are retailers' expectations for sales performance for the remainder of the year?
Most retailers have modest expectations; only 16 per cent anticipate a sales increase for the three months to December. A larger proportion, 38.2 per cent, expect a decline, while 45.8 per cent foresee steady sales.
Q.How did the timing of typhoons affect the third-quarter sales figures?
How did the timing of typhoons affect the third-quarter sales figures?
The timing of typhoons in both the current year and the previous year may have influenced the results. This factor is suggested to be why sales only rose by 1 per cent quarter on quarter.
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