The three-month-long citywide consumption campaign is helping to boost spending in Macao, says Taipa and Coloane Community Service Consultative Council member Leong Chon Kit. He revealed to local media during a meeting yesterday that the event was responsible for over 270 million patacas’ worth of spending in its first four weeks.
Scheduled to conclude on 29 December, the consumption drive is a collaborative effort between the government and business organisations to encourage shoppers to spend money locally instead of on the Chinese mainland, where goods are cheaper. Under the scheme, residents earn e-vouchers on weekdays, which they can redeem on weekends.
According to Leong, the campaign distributed 65 million patacas’ worth of e-vouchers during its initial four weeks. “FIfty-one million patacas’ worth of the vouchers have already been redeemed, with the redemption rate standing at 79 percent,” he said.
In terms of the different types of consumption, the council member said most residents preferred to do their spending in supermarkets and department stores, as well as food and beverage establishments. “According to the data, residents are likely to spend in places that include cha chaan teng [local style cafés], stores selling noodles and congee, and bread shops,” he pointed out.
[See more: Macao’s citywide consumption campaign will launch next Monday]
During the meeting, council member Ho Chong Chun acknowledged the economic benefits of the citywide consumption campaign, but said the discounts for residents were not enough. Ho suggested further optimising the campaign by removing the restriction that only allows the vouchers to be used on weekends.
As well, he advised the government to consider distributing monetary gifts in the form of virtual red packets of no less than 500 patacas next month to boost spending, commemorate the 25th anniversary of Macao’s handover to mainland China, and allow residents to share the wealth from Macao’s post-pandemic economic recovery.
Council member Li Yongjian noted that the validity period for the vouchers should be extended and their use should cover holiday periods as well.
The current citywide consumption drive kicked off on 30 September, after being brought forward a month in response to pleas from struggling retailers. A similar, 20-week-long consumption campaign was held earlier this year, although it only covered Macao’s northern district.
