Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the first quarter of 2016 amounted to MOP 14.73 billion, down by 11.2% year-on-year and by 5.8% compared with the revised figure of MOP 15.64 billion in the fourth quarter of 2015. Retail sales of Watches, Clocks & Jewellery accounted for 20.8% of the total, followed by sales of Goods in Department Stores (15.2%), Adults' Clothing (13.2%), Leather Goods (11.1%) and Goods in Supermarkets (7.7%).

As regards year-on-year change, value of retail sales of Motor Vehicles (-48.4%), Motorcycles, Parts & Accessories (-44.3%), Communication Equipment (-22.7%), Footwear (-19.0%) and Watches, Clocks & Jewellery (-18.3%) recorded notable decrease, while that of Chinese Food Products (+11.1%), Cosmetics & Sanitary Articles (+8.4%) and Adults' Clothing (+5.6%) showed increase.

After removing the effect of price changes, volume of retail sales for the first quarter of 2016 declined by 4.1% quarter-to-quarter. Sales volume of Motor Vehicles (-58.3%) and Motorcycles, Parts & Accessories (-50.8%) decreased substantially, while that of Communication Equipment (+22.9%), Footwear (+18.7%) and Leather Goods (+11.8%) increased.

Volume of retail sales decreased by 8.7% year-on-year in the first quarter. Similarly, notable decrease was observed in the sales volume of Motor Vehicles (-50.6%) and Motorcycles, Parts & Accessories (-46.5%), while that of Footwear (-15.1%), Watches, Clocks & Jewellery (-12.3%) and Household Appliances (-11.1%) also declined. On the other hand, sales volume of Cosmetics & Sanitary Articles (+8.7%), Chinese Food Products (+8.4%) and Adults' Clothing (+8.1%) recorded year-on-year increase.

In respect of retailers’ comments, 55.9% of the retailers anticipate that the sales volume in the second quarter of 2016 will decrease compared with the same quarter of 2015, 30.8% expect sales volume to remain stable, while 13.3% expect an increase. Meanwhile, 66.7% anticipate stable retail prices in the second quarter of 2016 compared to the same quarter of 2015, 23.2% expect a decrease, while 10.1% expect an increase. Moreover, 50.8% of the retailers anticipate the business will worsen in the second quarter of 2016 compared with the first quarter, 32.3% expect the business to remain stable, while 16.9% expect an improvement.