Retail Sales Survey for the 1st Quarter 2023
Sales value of Chinese Food Products surged by 230.4% year-on-year, and the sales values of Watches, Clocks & Jewellery, Leather Goods and Cosmetics & Sanitary Articles grew by 52.7%, 41.9% and 37.1% respectively; on the other hand, the sales value of Communication Equipment decreased by 30.2%. In terms of volume of retail sales, sales volume indices of Chinese Food Products (+222.2%), Watches, Clocks & Jewellery (+56.2%), Leather Goods (+44.4%) and Cosmetics & Sanitary Articles (+39.1%) registered notable year-on-year growth, while the sales volume index of Communication Equipment (-28.1%) fell.
Value of retail sales in the first quarter of 2023 went up by 62.3% as compared with the revised figure (MOP14.79 billion) in the fourth quarter of 2022, with a significant rise in the sales values of Chinese Food Products (+257.2%), Leather Goods (+106.5%), Watches, Clocks & Jewellery (+106.0%) and Department Stores (+91.1%); by contrast, the sales value of Motor Vehicles (-5.1%) dropped. Meanwhile, the sales volume index rose by 64.8% quarter-to-quarter; the indices of Chinese Food Products, Watches, Clocks & Jewellery, Leather Goods and Department Stores leapt by 257.4%, 108.2%, 104.4% and 91.1% quarter-to-quarter respectively, whereas the index of Motor Vehicles dipped by 5.2%.
In respect of retailers’ comments, 48.4% of the retailers expected the sales volume to stay stable year-on-year in the second quarter of 2023, 33.5% anticipated an increase and 18.1% forecasted a decrease. Meanwhile, 75.6% of the retailers predicted that the retail prices would remain steady year-on-year in the second quarter, 15.1% foresaw an increase and 9.3% expected a decrease. As compared with the first quarter of 2023, about 49.2% of the retailers expected stable performance in the second quarter, 26.9% anticipated a favourable outlook and 23.9% envisaged sluggish business.