Hong Kong, China

Food preparation appliances is set to see modest retail volume growth in 2023, despite many consumers heading back out to restaurants due to the removal of pandemic restrictions. The end of the long lockdown period caused a resurgence of consumers…

The demand for dishwashers is predicted to increase further in Hong Kong in 2023, supported by more education about these appliances, and greater visibility in retailers. There has been an uptick in the amount of advertising from retailers on both…

Consumer appliances is set to see modest retail volume growth in Hong Kong in 2023, due to the removal of pandemic restrictions and subsequent economic growth. Certain categories, such as air treatment products, and in particular refrigeration…

Air treatment products is set to continue to see a growth trend in volume terms in 2023, as a large number of household and residential projects have been restarted since the pandemic restrictions have been removed. Air conditioners in particular is…

While the majority of consumers in Hong Kong try to positively impact the planet, apathy has risen, with under half believing their actions can make a difference. Despite this, almost 40% of consumers identify as being Meat Avoiders. This creates…

Octopus has established itself as the most widely used and popular open loop pre-paid card in Hong Kong, offering a myriad of convenient features and services. Recognising the growing interest among local residents to explore the mainland during…

Total card transactions in Hong Kong, along with electronic direct/ACH transactions and mobile payments, are recording double-digit growth rates in 2023 as consumption recovers from the pandemic. This is mainly being driven by overseas consumption…

Since the reopening of borders in the fourth quarter of 2022, there has been a surge in enthusiasm among Hong Kong’s population to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in…

Since the reopening of borders in the fourth quarter of 2022, there has been a surge in enthusiasm among Hong Kong locals to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in…

Consumer lending in Hong Kong is experiencing a spike in growth as the economy recovers from the impact of the pandemic, with 14% growth in gross lending primarily driven by card lending. The reopening of borders in the fourth quarter of 2022 has…

Since the reopening of borders in the fourth quarter of 2022, there has been a significant increase in the desire of Hong Kong residents to travel abroad, following three years of pandemic-induced restrictions. Throughout 2023, there has been a…

There has been a decline in the number of high net worth individuals (HNWI) in Hong Kong since 2020. In response, charge card operators such as American Express and Diners Club are determined to customise their latest offers to better cater for this…

Womenswear is experiencing double-digit growth rate in 2023, following notable declines the previous year. Tourist consumption historically accounted for 20-30% of pre-pandemic sales in Hong Kong, and the return of tourists is set to become the main…

Sportswear in Hong Kong continues to experience strong growth momentum in 2023, and is expected to maintain a solid sales performance over the forecast period. Domestic demand for sportswear remains high due to rising health and wellness awareness,…

Menswear is experiencing a strong rebound, recording high double-digit retail volume and current value growth in 2023, although overall demand remains significantly below pre-pandemic levels. With Hong Kong’s border reopening, tourists are gradually…

There has been a noticeable shift in terms of preference for denim clothing, including jeans, as consumers prioritise comfort. Skinny jeans have been a wardrobe stable in Hong Kong for many years. However, in 2023, there has been a noticeable decline…

As social restrictions have been removed in Hong Kong and consumers are gradually returning to their pre-pandemic routines, there has been a notable surge in demand for hosiery. After a period of reduced social interactions and remote working,…

Footwear is enjoying strong growth in 2023, with both retail value and volume sales rising by double digits following declines the previous year. On the other hand, sports footwear has been a more robust performer since 2021. Driven by the rising…

With the removal of lockdowns and the reopening of Hong Kong’s border, sales of childrenswear have notably rebounded in 2023. However, local demand for childrenswear remains tepid. The declining birth rate in Hong Kong was already placing pressure on…

Apparel and footwear in Hong Kong is showing significant signs of recovery in 2023, with double-digit retail volume and current value growth. The local government gradually relaxed the city’s social restrictions from the second half of 2022 to early…

Demand for apparel accessories has notably increased in 2023 after three years of tepid sales during the pandemic. Following the reopening of Hong Kong’s border, international tourists have gradually returned. As tourist consumption historically…

Local consumers have been paying greater attention to their diets since the pandemic and, therefore, are exploring different dietary plans. In Hong Kong, flexitarian has, in fact, attracted the most attention. A local survey indicates that the city's…

Since the pandemic, local consumers have become extremely aware of the importance of health and wellness. According to Euromonitor International’s Voice of the Consumer: Lifestyles Survey 2022, 71% of Hong Kong respondents stated that they…

The current health and wellness trend, which was accelerated by the emergence of the pandemic in Hong Kong, has resulted in the launch of a wide range of healthy snacks. Snacks based on vegetables and options accompanied by claims such as high…

The pandemic resulted in heightened health and wellness awareness among local consumers, which has led to them reducing their intake of certain ingredients detrimental to their health, such as sugar, fat and salt. This trend continued to drive demand…

Hong Kong started 2022 with the fifth wave of COVID-19, with over 1.2 million citizens testing positive during the first quarter of the year. The outbreak dramatically intensified consumers’ concerns regarding their health and wellness, particularly…

Local consumers have been paying greater attention to their diets as well as their gut health since the pandemic. As such, when consumers in Hong Kong choose cooking ingredients and meals, the natural claim is one of their main concerns. It is…

The health and wellness industry continues to grow in importance post-pandemic as consumers become more aware of the negative health impact of processed foods, seeking healthier foods and beverages from a range of claims such as natural, organic,…

Insights and data on the traditional automotive sector and the mobility industry can help businesses examine how changing travel patterns will impact future consumer behaviour. Growing climate pressures and rising urbanisation rates are pushing…

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends and insights as to how each trend has manifested in Hong Kong,…

Value sales of premium and luxury cars fell by 3% to total HKD20.2 billion in 2023. After two years of exceptionally strong growth in 2021 and 2022, sales were unable to be maintained at this high level. Nevertheless, sales remained significantly…

Personal luxury retail value sales rose by 12% in 2023 to reach HKD90.5 billion, supported by growth recorded by leading brand providers, such as Richemont Asia Pacific Ltd and Rolex (Hong Kong) Ltd. The resumption of international travel greatly…

Retail value sales of luxury goods in Hong Kong rose by 12% in 2023 in current terms, to amount to HKD124.7 billion, exceeding the pre-pandemic level of sales. The revival of shopping in person, socialising, and the resurgence of travel and tourism…

Value sales of fine wines/champagne and spirits grew by 16% to total HKD1.1 billion in 2023, boosted by consumers’ desire to enjoy themselves after the pandemic. Enjoying a drink with friends remains a priority leisure activity, following the…

Despite macroeconomic adversity on a global scale, tourism demand was on the rise in 2023, with a growing number of visitors taking their holidays in Hong Kong. This represented an improvement on 2021 and 2022, when restrictions related to COVID-19…

Retail volume sales of flavoured and plain yoghurt have experienced consistent growth in Hong Kong, which can be attributed to sustained demand for yoghurt even after the pandemic, which is set to be maintained in 2023. The pandemic has had a…

Retail volume sales of soy drinks have been growing at a slow but stable rate over the years, due to consistent consumer demand and the maturity of the category, with this trend set to be maintained in 2023. Soy drinks have been popular in Hong Kong…

The demand for and retail volume sales of other dairy products experienced decline even before the pandemic, primarily driven by a shift in consumer preference. Despite a year of respite in 2020, this shift was largely unaffected by the COVID-19…

The retail volume demand for drinking milk products in Hong Kong has gradually stabilised, subsequent to an unprecedented surge witnessed during the height of the pandemic, followed by a strong decline. Over the course of the pandemic, retail sales…

Retail volume sales of dairy products and alternatives in Hong Kong showed a slight resurgence in 2022 as the pandemic subsided, and this is set to continue in 2023, benefiting from the restoration of local consumption and the return of tourists.…

Sales of cheese in Hong Kong are expected to experience a significant retail current value boost in 2023, mainly due to a substantial rise in the average unit price. The overall unit price of cheese is set to increase by over 10% compared with the…

The consumption of butter in Hong Kong experienced robust total volume growth following the initial pandemic disruption. Over the course of recent years, butter consumption in Hong Kong has been consistently influenced by a variety of lifestyle…

In 2023, baby food in Hong Kong is set to experience significant retail volume and current value rebounds, following the end to the pandemic and the lifting of all COVID-19 restrictions. The sharp recovery of baby food owes much to the reopening of…

Although glass bottles were the dominant pack type for beer in 2022, the usage of metal beverage cans also continued to increase in this category in Hong Kong. Metal beverage cans are popular for beer due to their convenience and durability. Being…

2023 is the year that travel in Hong Kong is set to start to see significant recovery from the pandemic. The Hong Kong government gradually released COVID-19-related restrictions from the last quarter of 2022, and started to welcome visitors from…

The full resumption of quarantine-free travel is the major driver of the expected exceptional spike in inbound arrivals to Hong Kong in 2023. Inbound arrivals are expected to recover to more than 60% of the 2019 level in 2023, with full recovery…

Hotels is set to see full recovery to the 2019 level of retail value sales in 2023. The return of mainland China tourists after the border reopening has greatly contributed to the recovery of hotels, and thus lodging. However, there has been uneven…

Booking through travel intermediaries is becoming increasingly popular amongst leisure travellers. Local consumers shifted to booking travel online during the pandemic due to greater convenience and accessibility. According to Euromonitor…

Airlines in Hong Kong started its recovery after the border reopening, and is set to see a rebound back to more than 85% of the pre-COVID-19 level of retail value sales in 2023, with full recovery expected in 2024. Airlines are currently facing…

Wearable electronics is the boom category in 2023, seeing excellent volume growth, and with smart wearables as the best-performing category. On the other hand, sales of activity bands continued to plateau. The decline in the popularity of activity…