Inside Asian Gaming

inside asian gaming December 2015 24 In years gone by retail was an afterthought for an Asian integrated resort. But with the rising Chinese middle class and its voracious appetite for brands, retail is as crucial as any other non-gaming element. How is retail shaping up in Macau’s new normal? Insights IAG: How is the general level of retail sales now compared to what it was before the gaming revenue plunge? Gaming revenue is down over 30%, is retail the same? Gloria Siu: With the recent macroeconomic effects and government policies, in general retail business has dropped compared to last year. Unlike gaming, retail is a big word and has a wide range of components, including the “luxury”, “affordable” and “must-buy” product mix. Most of the drop in gaming has come in the VIP sector. In such an environment, customers tend to spend less in luxury, maintain affordable purchases and increase buying must-buy products. Also some shops and brands benefit from differences between Hong Kong, Macau and China, such as tariff I AG recently sat down with Gloria Siu, Galaxy’s Assistant Vice President of Retail, for a chat about how Macau’s retail sector is faring. While Siu was quick to clarify her words represented her own personal point of view rather than her employer’s, they nevertheless provide interesting insights to the retail sector. Retail review