The value of retail sales in Macao totalled 15.97 billion patacas (US$1.98 billion) in the second quarter of 2025, a drop of 1.4 percent compared with the same period last year, official statistics show. After adjusting for prices, the sales volume index fell 2.4 percent year-on-year.
In a statement, the Statistics and Census Service (known by its Portuguese initials DSEC) noted that the decline in value was “much smaller” than the 15 percent year-on-year tumble recorded in the first quarter. It should be noted that 2024’s full-year retail sales value was also down 15 percent when compared with 2023 – which benefitted from the release of pent-up post-pandemic demand.
For the first half of 2025, the value of retail sales was down 9 percent year-on-year, amounting to 33.55 billion patacas (US$4.16 billion). The average sales volume index, meanwhile, dipped 11.4 percent.
The watches and jewellery sub-index saw a plunge of 26.5 percent, while pharmacies and motor vehicles registered respective increases of 4.9 percent and 3 percent.
[See more: Surge in vehicular traffic to the mainland spells more bad news for local retailers]
The steepest half-year declines in retail sales value noted by DSEC were in leather goods and cosmetics and sanitary articles, which fell 15.8 percent and 14.3 percent year-on-year, respectively. Pharmacy sales and motor vehicles, by contrast, rose 4.5 percent and 3.6 percent.
Almost 55 percent of retailers expected their sales volume to remain stable year-on-year in the third quarter of 2025, while 40 percent anticipated a decrease and just 5.3 percent forecast an increase.
Meanwhile, 76 percent of retailers predicted that retail prices would remain steady year-on-year in the third quarter, 18.1 percent foresaw a decrease, and 5.9 percent expected an increase.
Local retailers’ struggles have been largely attributed to border policies making it easier for Macao residents to shop on the Chinese mainland, where more variety meets lower prices. Per-person visitor spending has also been sluggish, down 12.3 percent year-on-year in the second quarter for non-gaming expenditure.
