Macau Retail Sales Fall at Slower Pace

Retail sales in Macau declined by 10.6% year-on-year in the last quarter of 2024, easing from a 19.1% slump in the previous quarter.

This was the fourth consecutive quarter of decline but the smallest drop in the sequence.

Sales decreased at a slower pace for motorcycles, parts & accessories (-6.3% vs -16.9% in Q3), department stores (-10.9% vs -20.4%), poultry, frozen meat & roasted meat (-10% vs -18.8%), Chinese food products (-12.5% vs -18.6%), cosmetics & sanitary articles (-6.6% s -24.8%), leather goods (-16% vs -27.1%), furniture & lighting (-4.6% vs -26.4%), and watches, clocks & jewelry (-33.7% vs -42.8%).

Additionally, sales rose solidly for dried seafood (18.6% vs 5.4%), footwear (15.7% vs 8.1%), and other products (11.2% vs 0.6%), while rebounded for adults’ clothing (6.8% vs -2.2%) and pharmacies (0.9% vs -6.7%).

On a quarterly basis, retail sales jumped by 13.4% in the December quarter, accelerating from a 2.9% growth in the previous period.