Information from the Statistics and Census Service (DSEC) indicated that retail sales value rose by 4.2% year-on-year to MOP19.21 billion in the fourth quarter of 2025, which also represented an increase of 14.6% when compared with the revised figure (MOP16.76 billion) in the third quarter. In 2025, total value of retail sales decreased by 3.2% year-on-year to MOP69.58 billion.

In the fourth quarter, value of retail sales rose by 4.2% year-on-year; sales values of Communication Equipment and Watches, Clocks & Jewellery surged by 46.1% and 29.9% respectively, while those of Supermarkets, Department Stores and Leather Goods declined by 9.0%, 7.2% and 6.3%. After removing the effect of price changes, the sales volume index inched down by 0.1% year-on-year in the fourth quarter, with decreases in the sales volume indices of Supermarkets (-9.7%), Motor Vehicles (-8.8%) and Pharmacies (-8.5%). On the other hand, the sales volume indices of Communication Equipment (+43.9%) and Cosmetics & Sanitary Articles (+12.1%) increased.

In respect of retailers’ comments, 47.2% of the retailers anticipated a year-on-year decrease in sales volume in the first quarter of 2026, 44.0% expected the sales volume to stay stable and 8.8% forecasted an increase. Meanwhile, 75.3% of the retailers predicted that the retail prices would remain steady year-on-year in the first quarter of 2026, 19.6% foresaw a decrease and 5.1% expected an increase. As compared with the fourth quarter of 2025, about 49.5% of the retailers expected a slowdown in business in the first quarter of 2026, 34.4% envisaged stable performance and 16.1% anticipated a favourable outlook.

In 2025, total value of retails sales dropped by 3.2% year-on-year; sales values of Leather Goods and Department Stores fell by 11.0% and 5.6% respectively, while that of Communication Equipment increased by 11.4%. Meanwhile, the average sales volume index went down by 5.9% year-on-year in 2025, with notable decline in the indices of Watches, Clocks & Jewellery (-15.2%), Motor Vehicles (-9.5%) and Leather Goods (-8.4%); on the other hand, the index of Communication Equipment (+10.8%) recorded growth.