Information from the Statistics and Census Service (DSEC) indicated that the value of retail sales increased by 64.3% year-on-year to MOP21.58 billion in the second quarter of 2023. After removing the effect of price changes, the sales volume index rose by 59.3% year-on-year.
Sales value of Chinese Food Products surged by 406.8% year-on-year, and the sales values of Watches, Clocks & Jewellery (+106.8%), Department Stores (+105.2%), Adults’ Clothing (+95.6%) and Leather Goods (+91.3%) also recorded growth; on the other hand, the sales values of Communication Equipment (-25.8%) and Supermarkets (-4.1%) decreased. In terms of sales volume index, the indices of Chinese Food Products (+383.1%), Department Stores (+98.3%) and Watches, Clocks & Jewellery (+95.4%) grew notably year-on-year, while the indices of Communication Equipment (-22.8%) and Supermarkets (-6.5%) dropped. For the first half of 2023, the value of retail sales went up by 43.9% year-on-year to MOP45.63 billion and the sales volume index rose by 41.2%.
Value of retail sales in the second quarter of 2023 dipped by 10.2% as compared with the revised figure (MOP24.04 billion) in the first quarter. Sales values of Communication Equipment, Leather Goods and Adults’ Clothing declined by 45.4%, 14.2% and 13.5% respectively, whereas the sales values of Chinese Food Products and Automotive Fuels grew by 10.5% and 9.1%. The sales volume index fell by 14.3% quarter-to-quarter, with the indices of Communication Equipment (-44.7%), Watches, Clocks & Jewellery (-18.9%) and Adults’ Clothing (-18.1%) showing marked decreases; meanwhile, the indices of Automotive Fuels (+9.5%) and Chinese Food Products (+8.7%) increased significantly.
In respect of retailers’ comments, 48.2% of the retailers anticipated a year-on-year decrease in sales volume in the third quarter of 2023, 38.4% expected the sales volume to stay stable and 13.4% forecasted an increase. Meanwhile, 78.7% of the retailers predicted that the retail prices would remain steady year-on-year in the third quarter, 12.1% foresaw a decrease and 9.2% expected an increase. As compared with the second quarter of 2023, about 47.4% of the retailers envisaged sluggish business in the third quarter, 42.0% expected stable performance and 10.6% anticipated a favourable outlook.