Tai Peng Electronics and Appliances – a well-established retailer that has been operating in Macao for 56 years – is set to permanently shut down all four of its stores this Sunday.
In a newspaper notice, uploaded and shared by social media users yesterday, the retailer announced it would offer 50 percent discounts across all branches before its closure.
News of the slashed prices spread quickly, with local media reporting that long queues formed outside of Tai Peng’s original store in Rua das Estalagens and branches in Horta e Costa, Ho Lan Un and Iao Hon.
According to TDM, some 50 to 60 people were lined up outside the Horta e Costa store at 1 pm yesterday, with police present to maintain order.
Speaking to Macao Daily News, a Tai Peng board member identified by the surname Ho said that the business’s closure was not a result of economic difficulties, but rather stemmed from the 80-year old owner’s desire to retire.
Ho recounted some of the memorable moments in the long-running retailer’s history. These included 2017’s Typhoon Hato, which resulted in the store being inundated by flood waters as high as 2 to 3 metres. Meanwhile, the business struggled through the Covid-19 pandemic, as well as changes in consumer behaviour that saw locals do most of their spending in mainland China.
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Shoppers who spoke to local media said they were saddened by news of the store’s closure, with one man calling it “a shame because after all these years neighbours have developed an emotional connection.” The interviewee added that he chose to purchase at physical electronic stores over online ones, as they are “more reliable.”
One electronic business situated next to Tai Peng’s Rua das Estalagens branch also lamented the closing of its competitor, with a staff member calling it “a pity. The worker noted that their businesses had peacefully co-existed and that he had friends at the Tai Peng store.
“Thank you for standing by us for the past half century,” Tai Peng’s newspaper announcement read. “Your smile and approval were our biggest motivators for continuing on.”
Tai Peng’s closure has sparked conversations regarding the struggles that local SMEs face, with local legislator Chan Hao Weng stating that the brand’s shutdown “is well worth our reflection.” Meanwhile, his political partner, José Pereira Coutinho, urged the government to launch measures that will help SMEs.
Established in 1969, Tai Peng appeared at a time when electronic appliances were still considered markers of affluence in Macao. The business holds the distinction of being the first business of its kind in Macao and Hong Kong to offer refund services for electronics. As well, it hosted Macao’s first electronic exhibition in the 1970s.
