Luxury Retail Sales Soar to New Record
Macau – Local retail sales reached a new record high of MOP 9.6 billion, up 39 percent year-on-year, in the second quarter of 2011. Business volume has been growing non-stop for the past 12 months as visitor spending soars but now seems to be slowing.
Luxury goods remain the most important business for the retail sector, according to the latest data released by the Statistics and Census Bureau yesterday. For instance, watches and jewellery reached sales of MOP 2.53 billion, 26 percent of the total.
In the last quarter this niche recorded a year-on-year growth of more than half (up 51.8 percent). Sales of watches and jewellery have been on the rise ever since the first quarter of 2009.