Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the second quarter of 2014 totalled MOP 16.37 billion, down by 11% compared with the revised figure of MOP 18.37 billion in the first quarter. Retail sales of Watches, Clocks & Jewellery amounted to MOP 4.20 billion (26% of total), which was followed by retail sales of Goods in Department Stores (17%), Leather Goods (10%), Adults' Clothing (10%), Motor Vehicles (7%) and Goods in Supermarkets (6%).

Value of retail sales for the second quarter of 2014 increased by 3% year-on-year, with marked increase being observed in sales of Chinese Food Products (+49%), Adults' Clothing (+25%), Household Appliances (+24%) and Motor Vehicles (+24%). On the other hand, in view of an upsurge in sales of gold jewellery in the second quarter of 2013 due to lower gold prices, retail sales of Watches, Clocks & Jewellery for the second quarter of 2014 dropped by 22% year-on-year. Value of retail sales for the first half year of 2014 reached MOP 34.74 billion, up by 9% year-on-year.

After removing the effect of price changes, volume of retail sales for the second quarter of 2014 increased by 4% year-on-year, with notable increase in sales of Motorcycles, Parts & Accessories (+61%), Chinese Food Products (+36%), Dried Seafood (+29%), Household Appliances (+28%) and Adults' Clothing (+23%); however, sales of Watches, Clocks & Jewellery decreased by 19%. Meanwhile, volume of retail sales decreased by 11% quarter-to-quarter, of which sales of Watches, Clocks & Jewellery (-24%), Goods in Department Stores (-15%), Leather Goods (-14%) and Household Appliances (-12%) saw significant decline; on the contrary, sales of Chinese Food Products increased by 23%. Volume of retail sales for the first half year of 2014 increased by 11% year-on-year.

In respect of the comments of the retailers, about 53% stated that sales volume in the second quarter of 2014 increased or held stable over the previous quarter, down by 6 percentage points compared with those holding the same sentiment in the first quarter of 2014, while 47% reported decrease in sales volume. In terms of the retail prices, about 66% reported stable prices, 9% stated an increase and 25% noted a decrease.

In comparison with the same quarter of 2013, about 64% expressed that the stock level was normal in the second quarter of 2014, while 25% indicated that the stock level was low.

As regards business outlook for the third quarter of 2014, about 22% anticipate that sales volume will increase from the second quarter, 50% expect sales volume to remain stable, while 28% foresee a decrease. Concurrently, about 64% predict stable retail prices, 15% expect an increase, while 21% predict a decrease in retail prices.