Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the fourth quarter of 2016 increased by 1.1% year-on-year to MOP 15.89 billion, driven by a rebound in visitor spending coupled with the festive seasons such as Christmas, representing the first year-on-year growth since the second quarter of 2014. Value of retail sales for the fourth quarter rose by 16.2% compared with the revised figure of MOP 13.67 billion in the third quarter. Retail sales of Watches, Clocks & Jewellery accounted for 21.0% of the total, followed by sales of Goods in Department Stores (15.1%), Adults' Clothing (13.2%), Leather Goods (11.5%) and Goods in Supermarkets (6.5%).
With regard to the year-on-year change in value of retail sales, Leather Goods (+18.1%) and Automotive Fuels (+13.4%) recorded significant growth in the fourth quarter, while Motor Vehicles (-43.6%), Motorcycles, Parts & Accessories (-25.6%) and Goods in Pharmacies (-17.4%) showed marked decrease. Notable quarter-to-quarter increase was observed in the retail sales of Adults' Clothing (+31.0%), Motor Vehicles (+28.5%), Watches, Clocks & Jewellery (+21.6%), Communication Equipment (+18.3%), Leather Goods (+18.1%) and Goods in Department Stores (+17.1%).
After removing the effect of price changes, volume of retail sales for the fourth quarter of 2016 rose slightly by 0.1% year-on-year, of which sales of Leather Goods (+27.4%), Automotive Fuels (+11.6%), Cosmetics & Sanitary Articles (+8.5%) and Footwear (+8.2%) registered significant increase. On the other hand, sales of Motor Vehicles (-46.6%) and Motorcycles, Parts & Accessories (-28.7%) showed marked decrease. Volume of retail sales for the fourth quarter rose by 15.1% quarter-to-quarter, with notable growth in the sales of Motor Vehicles (+28.2%), Watches, Clocks & Jewellery (+26.5%), Adults' Clothing (+24.8%), Communication Equipment (+19.0%), Leather Goods (+15.9%) and Goods in Department Stores (+12.6%).
Total value of retail sales for the whole year of 2016 amounted to MOP 57.51 billion, down by 6.6% year-on-year. Value of retail sales of Watches, Clocks & Jewellery (MOP 11.76 billion), Goods in Department Store (MOP 8.60 billion) and Adults' Clothing (MOP 7.25 billion) accounted for 20.5%, 15.0% and 12.6% respectively of the total. Affected by the vehicle tax hike at the end of 2015 and the economic adjustment of Macao, notable decrease was observed in the sales of Motor Vehicles (-45.7%) and Motorcycles, Parts & Accessories (-35.2%). Moreover, sales of Communication Equipment (-19.0%) and Watches, Clocks & Jewellery (-14.0%) also went down. On the other hand, sales of Leather Goods (+6.1%), Cosmetics & Sanitary Articles (+5.0%) and Adults' Clothing (+4.1%) registered increase. Volume of retail sales for the whole year of 2016 dropped by 5.5% year-on-year, with marked decrease in the sales of Motor Vehicles (-48.7%), Motorcycles, Parts & Accessories (-38.3%) and Watches, Clocks & Jewellery (-14.1%); meanwhile, sales of Leather Goods (+18.4%) showed marked increase.
In respect of retailers’ comments, 49.8% of the retailers anticipated that sales volume in the first quarter of 2017 will remain stable compared with the same quarter of 2016, 46.2% forecasted a decrease and 4.0% expected an increase. Meanwhile, 74.5% of the retailers anticipated stable retail prices in the first quarter of 2017 compared to the same quarter of 2016, 17.2% expected a decrease, and 8.3% predicted an increase. Moreover, 48.9% of the retailers anticipated the business will worsen in the first quarter of 2017 compared with the fourth quarter of 2016, 44.3% expected the business to remain stable, and 6.8% expected an improvement.