Information from the Statistics and Census Service (DSEC) indicated that the value of retail sales decreased by 16.9% year-on-year to MOP53.48 billion in the first three quarters of 2024, corresponding to 95% of the level in the same period in 2019. In the third quarter, value of retail sales totalled MOP16.59 billion, up by 2.5% as compared with the revised figure (MOP16.19 billion) in the second quarter but down by 15.5% year-on-year.

Value of retail sales for the first three quarters dropped by 16.9% year-on-year; sales values of Watches, Clocks & Jewellery, Leather Goods and Communication Equipment fell by 26.6%, 24.4% and 24.3% respectively, while sales value of Motor Vehicles increased by 14.4%. Meanwhile, the average sales volume index for the first three quarters went down by 21.2% year-on-year after removing the effect of price changes; the indices of Watches, Clocks & Jewellery (-35.3%), Leather Goods (-26.6%) and Communication Equipment (-24.1%) saw significant year-on-year drop, whereas the index of Motor Vehicles rose by 15%.

In the third quarter, value of retail sales fell by 15.5% year-on-year, with decreases in the sales values of Watches, Clocks & Jewellery (-30.9%), Leather Goods (-26.5%) and Cosmetics & Sanitary Articles (-23.7%); on the other hand, sales values of Motor Vehicles (+37.6%) and Communication Equipment (+21.7%) increased. Meanwhile, the sales volume index for the third quarter dropped by 19.1% year-on-year; the indices of Watches, Clocks & Jewellery (-42.8%), Leather Goods (-27.1%) and Cosmetics & Sanitary Articles (-25.2%) showed a notable fall, whereas the indices of Motor Vehicles (+38.3%) and Communication Equipment (+21.6%) registered growth.

In respect of retailers’ comments, 45.3% of the retailers anticipated a year-on-year decrease in sales volume in the fourth quarter of 2024, 39.5% expected the sales volume to stay stable and 15.2% forecasted an increase. Meanwhile, 68.8% of the retailers predicted that the retail prices would remain steady year-on-year in the fourth quarter, 22.2% foresaw a decrease and 9% expected an increase. As compared with the third quarter of 2024, about 40.4% of the retailers expected stable business performance in the fourth quarter, 38.6% envisaged a slowdown and 21% anticipated a favourable outlook.