Retail Sales Survey for the 2nd Quarter 2020
Source：DSEC
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.
Related Information: Retail Sales Survey for the 2nd Quarter 2020
