Holiday sales of luxuries drop 20-30 pct, TDM says

2015/3/4

From:Macau Business

Shopkeepers say the value of sales of expensive goods was between 20 per cent and 30 per cent lower over the Lunar New Year holidays this year than in the equivalent period last year, TDM has reported.

“This year we can see that high-end consumption has shrunk slightly,” the president of the Macau Goldsmith’s Guild, Lei Chi Fong, said on the public broadcaster’s Chinese-language radio service.

Mr Lei said the campaign against corruption in the mainland may continue to depress sales.

But he said he believed that retailing would develop healthily in the long run.

Copyright@Macau Business