Retailers anticipate decline in Q4 sales

M retail sales saw a significant year-on-year decline of 16.9%, totaling MOP53.48 billion in the first three quarters of 2024, according to the latest data from the Statistics and Census Service (DSEC). This represents 95% of the retail sales recorded during the same period in 2019.

In the third quarter, retail sales reached MOP16.59 billion, marking a 2.5% increase from the revised MOP16.19 billion in the second quarter. However, it still reflected a 15.5% decrease compared to the previous year.

The downturn was particularly pronounced in categories such as Watches, Clocks & Jewelry, Leather Goods, and Communication Equipment, which experienced sales drop of 26.6%, 24.4%, and 24.3%, respectively. Conversely, the Motor Vehicles sector reported a 14.4% increase in sales.

In terms of retailer sentiment, 45.3% of respondents expect a year-on-year decline in sales volume for the fourth quarter of 2024, while 39.5% anticipate stable sales, and 15.2% predict an increase. Regarding retail prices, 68.8% of retailers believe prices will remain steady compared to last year, with 22.2% expecting a decrease and 9% forecasting an increase.

Compared to the third quarter of 2024, around 40.4% of retailers foresee stable business performance in the fourth quarter, 38.6% expect a slowdown, and 21% are optimistic about a favorable outlook. LV

Retailers anticipate decline in Q4 sales

Retailers anticipate decline in Q4 sales

Retailers anticipate decline in Q4 sales

Retailers anticipate decline in Q4 sales

Retailers anticipate decline in Q4 sales