Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the second quarter of 2020 fell by 61.3% year-on-year to MOP6.92 billion amid the pandemic. After removing the effect of price changes, the sales volume index also dropped by 61.5%.
Among the major retail trade activities, sales values of Watches, Clocks & Jewellery (-87.3%), Leather Goods (-72.8%), Department Stores (-71.7%) and Adults’ Clothing (-71.2%) registered relatively large year-on-year declines, while sales value of Supermarkets (+13.7%) increased. In addition, sales value of Furniture & Lighting rose by 91.3% attributable to the opening of a large retail establishment in the second quarter. As regards volume of retail sales, sales volume indices of Watches, Clocks & Jewellery (-89.0%), Leather Goods (-72.2%), Department Stores (-70.2%) and Adults’ Clothing (-67.3%) decreased year-on-year, whereas the index of Supermarkets (+12.7%) recorded growth. For the first half year of 2020, value of retail sales dropped by 52.8% year-on-year to MOP18.08 billion and the sales volume index reduced by 52.7%.
Value of retail sales in the second quarter of 2020 decreased by 38.0% as compared with the revised figure (MOP11.16 billion) in the first quarter. Sales values of Watches, Clocks & Jewellery, Leather Goods and Adults’ Clothing declined by 74.1%, 52.9% and 52.3% respectively. Meanwhile, volume index of retail sales dropped by 39.0% quarter-to-quarter, of which the indices of Watches, Clocks & Jewellery, Leather Goods and Adults’ Clothing fell by 76.2%, 53.4% and 51.7% respectively, while the index of Automotive Fuels increased by 6.6%.
In respect of retailers’ comments, 72.1% of the retailers anticipated a year-on-year decrease in sales volume in the third quarter of 2020, 20.2% expected the sales volume to stay stable and 7.7% forecasted an increase. Meanwhile, 76.7% of the retailers predicted that the retail prices would remain steady year-on-year in the third quarter, 18.5% foresaw a decrease and 4.8% expected an increase. As compared with the second quarter of 2020, 51.6% of the retailers envisaged sluggish business in the third quarter, whereas retailers expecting stable performance (28.0%) and those anticipating a favourable outlook (20.4%) together accounted for 48.4% of the total.
(Statistics and Census Service)
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