Macau 3Q23 retail sales soar by 80 percent

In Macau, the value of retail sales surged by 80.1 percent year-on-year to MOP20.19 billion ($2.5 billion) in 3Q23. After removing the effect of price changes, the sales volume index leapt by 78 percent year-on-year.

According to the information disclosed by the Statistics and Census Service (DSEC), the sales value of Watches, Clocks and jewelry (+115.4 percent) registered a notable increase, while Leather Goods were up up 148.1 percent. Meanwhile, that of Department Stores rose 123.5 percent while those of supermarkets decreased by 11.3 percent.
For the first three quarters of 2023, the value of retail sales went up by 53.1 percent year-on-year to MOP65.68 billion ($8.2 billion), and the average sales volume index grew by 50.2 percent.
In respect of retailers’ comments, 44 percent of the retailers expected the sales volume to stay stable year-on-year in the fourth quarter of 2023, 36.4 percent anticipated a decrease, and 19.6 percent forecast an increase. 
Meanwhile, 68.4 percent of the retailers predicted that the retail prices would remain steady year-on-year in the fourth quarter, 19.9 percent foresaw an increase, and 11.7 percent expected a decrease. 
As compared with the third quarter of 2023, about 41.8 percent of the retailers envisaged sluggish business in the fourth quarter, 41.7 percent expected stable performance, and 16.5 percent anticipated a favorable outlook.

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