Information from the Statistics and Census Service (DSEC) indicated that the value of retail sales decreased by 36.6% year-on-year to MOP13.14 billion in the second quarter of 2022, as local confirmed cases of coronavirus infection were reported in June. After removing the effect of price changes, the sales volume index dropped by 36.2% year-on-year.
Among the major retail trade activities, sales values of Department Stores (-55.5%), Adults’ Clothing (-52.4%) and Watches, Clocks & Jewellery (-49.5%) showed a substantial year-on-year decline, whereas sales value of Supermarkets (+15.9%) recorded growth. Meanwhile, the sales volume indices of Department Stores (-55.3%), Adults’ Clothing (-52.7%) and Watches, Clocks & Jewellery (-48.8%) fell notably year-on-year, while the index of Supermarkets (+13.3%) increased. For the first half of 2022, value of retail sales went down by 19.7% year-on-year to MOP31.70 billion and the sales volume index dipped by 18.3%.
Value of retail sales in the second quarter of 2022 shrank by 29.2% as compared with the revised figure (MOP18.56 billion) in the first quarter. Sales values of Communication Equipment (-48.6%), Adults’ Clothing (-44.4%) and Department Stores (-41.9%) dropped markedly, whereas sales value of Automotive Fuels (+8.2%) grew. Moreover, the sales volume index fell by 30.8% quarter-to-quarter; the indices of Communication Equipment, Adults’ Clothing and Department Stores plunged by 48.5%, 45.9% and 41.5% respectively.
In respect of retailers’ comments, 69.4% of the retailers anticipated a year-on-year decrease in sales volume in the third quarter of 2022, 29.0% expected the sales volume to stay stable and only 1.6% forecasted an increase. Meanwhile, 71.8% of the retailers predicted that the retail prices would remain steady year-on-year in the third quarter, 19.3% foresaw a decrease and 8.9% expected an increase. As compared with the second quarter of 2022, about 74.5% of the retailers envisaged sluggish business in the third quarter, whereas retailers expecting stable performance (20.6%) and those anticipating a favourable outlook (4.9%) together accounted for 25.5% of the total.