By Catherine Cheang
The glamorous casinos and hotels give Macao a halo. From a fishing village to Oriental Monte Carlo we have now, one cannot deny that money takes a large part in Macao’s transformation.
The median income of Macao reached MOP12,300 in the fourth quarter of 2013. Visitors recorded almost 30 million man-time in 2013. These numbers continuously fuel the retail sales. The heated market keeps going up. Last year alone, Macao made a record of MOP66 billion in retail sales, triple that of 2009, according to a reports by the Government of Macao Special Administrative Region Statistics and Census Service (DSEC).
The numbers and charts are all impressive. Is it all happy and cheerful behind them?
High-end brands, luxury fashions, jewelry and watches – luxury goods stores are all over the city. Have a quick look out on the street, people seem to enjoy putting on all these price tags on themselves. A pair of MOP5,000 shoes, a MOP15,000 handbag, a MOP100,00 watch, all these seem to have become essential of a Macao lifestyle. Some say these products bring a sense of privilege and exclusivity, symbolize their social status. How do you see it?
“You need to have some of these branded items to be confident,” Roy Lao, a junket VIP service supervisor, said, holding his new MOP6,500 belt. “It shows people that I am capable. I look into the mirror with this clothing, then I feel upgraded. It wasn’t easy money. I made money by hard work. It is rewarding to buy something I want.” Lao stated that he found it hard when his subordinate bought more expensive products than him. “It feels like they outrun you, you know? It’s worth every penny when you see the envious look on their faces.”
What do you think? Is this the price you are willing to pay, like Lao?
When some are spending their hard-earned money on luxury, some are making a living out of it. Carrie Cheong is a supervisor in an Italian high-end fashion store. She recalled how the retail industry was like when she started working as a salesperson five years ago. “I used to work in a private clothing store. I had to try very hard to earn enough money just to support myself. There were not many this kinds of luxurious brand stores.”
When asked about local customers, Cheong said the answer is rather difficult. “Of course mainland tourists are our main source of customers. But you will be surprised how many local people buy these products. I am happy that my monthly income is multiple times more compared to a few years back. Though, I’m not sure if Macao should keep on going this way. How did these products with names on them become essential for a normal person?”
Macao is growing into an international renowned city of gaming. The citizens are soaked in the atmosphere of money and glamor. Are we getting lost in the excitement of this new face of Macao? How is the next generation going to adopt this luxurious world and remain themselves?