A Macao city-wide scheme to boost consumption is set to launch before the end of this year, according to the Secretary for Economy and Finance Lei Wai Nong, TDM reports.
It will be an expanded version of a recent so-called ‘shopping carnival’ that took place in Macao’s northern districts, he said at a recent Legislative Assembly meeting. That programme consisted of discounts, vouchers and raffle prizes issued via digital payment platforms that were only able to be spent at participating businesses. It aimed to encourage consumers to spend their money in what tends to be a quieter part of the city, thereby aiding its local economy.
The 20-week northern scheme ended earlier this month. Lei said officials were currently assessing what worked and what didn’t, and would adopt the successful elements for the city-wide programme.
[See more: Consumer promotions have helped ailing businesses in the northern district]
“We hope to launch it in the fourth quarter based on the positive experiences we learned,” he said.
Government-run consumption initiatives help stem the flow of Macao residents heading to the mainland to do their shopping, particularly during extended holidays and weekends, where prices tend to be cheaper. The practice leads to a significant loss of business for local merchants.
