Department stores lead retail in Macau

177

(Source: Inside Retail Asia | May 21, 2018)

Department stores have led the way in retail in Macau, with 89 percent reporting better sales (up 11 points) for March.

They were followed by cosmetics and sanitary articles (67 percent), down 33 points. About 15 percent of retailers saw their sales decline, up eight points from February.

Retailers interviewed were cautious about their business performance last month, most expecting a drop.

Most eating establishments in Macau had a buoyant March, with a small slice reporting a decline in income, according to the latest DSEC Catering and Retail Business Survey.

Of the restaurants and similar establishments surveyed by the Statistics and Census Service, 59 percent reported an increase in receipts in March while 19 percent had a year-on-year decline.

The data was taken from the value of receipts based on a sample of 167 restaurants (53 percent of the industry’s receipts) and 135 retailers (70 percent of receipts).

Of the restaurants surveyed, a record 82 percent of Chinese outlets led the charge, while the share of Japanese and Korean restaurants with higher receipts surged 53 points to 73 percent.

There was a 16-point drop in restaurants with depressed sales to 19 per cent while 13 percent of Japanese and Korean restaurants fell by 33 points.

Restaurants interviewed said they expected business to weaken last month, with 17 percent anticipating a 6 percent drop in year-on-year growth in receipts.

Among surveyed retail outlets, 80 percent of leather goods retailers expected their turnover to grow, up 20 points from March. On the other hand, 21 percent of retailers surveyed expect their turnover to decline.
Read More: Here