Retailers are pinning hopes on an influx of Chinese visitors to Macau in the middle of January, most of whom are expected to come for Lunar New Year shopping activities, to push receipts to new heights.
The rosy picture anticipated by local retailers comes after the government released promising tourist statistics on January 5. Macau registered a record daily number of 30,747 visitor arrivals over the last 11 months, as of December 31.
Lo Wang Chun, Vice Director of the Macau Association of Retailers & Tourism Services, told TDM yesterday, “Receipts generated from local retail industry increased by over 20%, month to month, in December last year.”
He attributed the uptick in retail performance to the city’s numerous discounts and promotions towards the end of last year, as many retailers were eager to “clear the stock.”
“We saw so many attractive deals in the malls with up to 70% discounts, or even, buy-one-get-one-free deals,” he added.
He anticipates that the retail business will be given a stronger shot in the arm in mid-January, as he projects that there will be an influx of tourists coming to the city to purchase gifts or groceries to gear up for the Lunar New Year in February.
He forecasts that mainland arrivals in mid-January will be around 15% to 20% more than those registered during the New Year holiday.
“The spending power of mainland tourists to Macau has not reduced. The only change is that they are more cautious about what they spend on,” Lo stressed.
Read original article