Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the fourth quarter of 2022 totalled MOP14.80 billion, down by 20.6% year-on-year. After removing the effect of price changes, the sales volume index dropped by 21.8% year-on-year.

Among the major retail trade activities, sales values of Department Stores (-34.7%), Watches, Clocks & Jewellery (-28.5%) and Adults’ Clothing (-26.2%) registered a year-on-year decrease, whereas sales values of Automotive Fuels (+8.2%) and Pharmacies (+4.0%) increased. In terms of volume of retail sales, sales volume indices of Department Stores (-35.2%), Watches, Clocks & Jewellery (-29.2%) and Adults’ Clothing (-28.1%) recorded a significant year-on-year decline, while the index of Pharmacies (+3.7%) rose.

Value of retail sales in the fourth quarter of 2022 grew by 32.0% as compared with the revised figure (MOP11.21 billion) in the third quarter. Sales value of Communication Equipment soared by 109.0% from the previous quarter, and sales values of Adults’ Clothing (+67.1%), Leather Goods (+57.8%) and Department Stores (+43.0%) showed marked increases; by contrast, the sales value of Supermarkets (-8.0%) dropped. Meanwhile, the volume index of retail sales went up by 35.6% quarter-to-quarter, with the indices of Communication Equipment (+110.1%), Adults’ Clothing (+61.5%), Leather Goods (+57.9%) and Department Stores (+41.0%) recording notable growth; yet, the index of Supermarkets dipped by 8.3%.

For the whole year of 2022, total value of retail sales decreased by 22.1% year-on-year to MOP57.71 billion. Among the major retail trade activities, sales values of Department Stores, Adults’ Clothing and Watches, Clocks & Jewellery declined by 36.9%, 31.7% and 29.7% year-on-year respectively. In 2022, the average sales volume index fell by 22.0% year-on-year; the sales volume indices of Department Stores (-37.0%), Adults’ Clothing (-33.0%) and Watches, Clocks & Jewellery (-29.1%) registered noticeable drop.

In respect of retailers’ comments, 42.7% of the retailers expected the sales volume to stay stable year-on-year in the first quarter of 2023, while 34.4% anticipated a year-on-year increase and 22.9% forecasted a decrease. Meanwhile, 70.4% of the retailers predicted that the retail prices would remain steady year-on-year in the first quarter, 17.9% foresaw a decrease and 11.7% expected an increase. As compared with the fourth quarter of 2022, about 40.3% of the retailers anticipated a favourable outlook in the first quarter of 2023, 34.0% expected stable performance and 25.7% envisaged sluggish business.