Retail sales survey for the whole year and the 4th quarter of 2024

MACAU, February 26 - Information from the Statistics and Census Service (DSEC) indicated that the total value of retail sales decreased by 14.9% year-on-year to MOP71.99 billion in 2024. In the fourth quarter of 2024, value of retail sales totalled MOP18.51 billion, up by 11.6% as compared with the revised figure (MOP16.59 billion) in the third quarter but down by 8.6% year-on-year.

As regards the major retail trade activities, sales values of Watches, Clocks & Jewellery, Leather Goods and Department Stores dropped by 25.3%, 22.6% and 18.6% respectively year-on-year in 2024. Sales value of Supermarkets (-0.2%) held stable, while that of Motor Vehicles grew by 16.1%. After removing the effect of price changes, the average sales volume index in 2024 went down by 18.7% year-on-year, with notable decline in the indices of Watches, Clocks & Jewellery (-34.9%), Leather Goods (-24.2%) and Department Stores (-20%); meanwhile, the index of Motor Vehicles (+16.3%) rose.

In the fourth quarter of 2024, value of retail sales fell by 8.6% year-on-year. Sales values of Watches, Clocks & Jewellery, Leather Goods, Department Stores and Chinese Food Products went down by 21.1%, 16.7%, 11.7% and 10.7% respectively; on the other hand, sales values of Motor Vehicles (+17.1%) and Communication Equipment (+12.5%) increased. The sales volume index decreased by 10.6% year-on-year in the fourth quarter, with significant drop in the indices of Watches, Clocks & Jewellery (-33.7%), Leather Goods (-16%), Chinese Food Products (-12.5%) and Department Stores (-10.9%); meanwhile, the indices of Motor Vehicles (+16.5%) and Communication Equipment (+12.5%) recorded growth.

In respect of retailers’ comments, 54.4% of the retailers anticipated a year-on-year decrease in sales volume in the first quarter of 2025, 39.1% expected the sales volume to stay stable and 6.5% forecasted an increase. Meanwhile, 57.3% of the retailers predicted that the retail prices would remain steady year-on-year in the first quarter of 2025, 34.4% foresaw a decrease and 8.3% expected an increase. As compared with the fourth quarter of 2024, about 55.7% of the retailers expected a slowdown in business in the first quarter of 2025, 37.6% envisaged stable performance and 6.7% anticipated a favourable outlook.