Group 1 - The retail sales in Macau for Q2 2025 amounted to MOP 15.97 billion, reflecting a year-on-year decline of 1.4%, which is a significant improvement from the Q1 decline of 15.0% [1] - Key retail sectors showed recovery in Q2, with adult clothing and department stores recording year-on-year growth of 2.7% and 1.9% respectively, while declines in leather goods (-4.4%) and cosmetics and hygiene products (-3.6%) slowed compared to Q1 [1] - For the first half of the year, retail sales totaled MOP 33.55 billion, down 9.0% year-on-year, with leather goods and cosmetics experiencing declines of 15.8% and 14.3% respectively, while pharmacies and automobiles saw increases of 4.5% and 3.6% [1] Group 2 - According to retail merchants' opinions, 54.7% expect Q3 sales volume to be similar to the same period last year, while 40.0% anticipate a decrease, and 5.3% expect an increase [2] - A significant 76.0% of merchants predict that Q3 sales prices will remain at last year's levels, with 18.1% expecting a price drop and 5.9% anticipating a price increase [2]

Group 1 - The retail sales in Macau for Q1 2024 amounted to 17.58 billion MOP, representing a year-on-year decrease of 15% [1] - Significant declines were observed in the sales of leather goods (-24.2%), cosmetics and hygiene products (-22.3%), department stores (-18.8%), and watches and jewelry (-17.3%), while automotive sales increased by 12% [1] - The sales volume index, adjusted for price factors, fell by 17.8% year-on-year, with watches and jewelry showing the largest decline at -29.9% [1] Group 2 - Following the resumption of economic activities in Macau in 2023, retail sales initially surged; however, starting Q1 2024, sales began to decline due to high comparative base effects and changes in consumer behavior [2] - In Q1 2025, retail sales are expected to reach 86% of the levels seen in Q1 2019 [2] - A survey indicated that 53.7% of retailers expect a decrease in sales volume for Q2 2024 compared to the same period last year, while 62.5% anticipate stable prices compared to last year [2]