Hong Kong, China

In 2023, strong current value growth for mass beauty and personal care in Hong Kong was driven by the resumption of tourist expenditure. As international tourists return, there is renewed demand for beauty and personal care products, boosting sales…

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…

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…

In 2023, limited-service restaurants in Hong Kong saw stronger current value growth than in the previous year, along with rises in outlet numbers and transaction volumes. The year 2023 brought some respite to businesses in limited-service restaurants…

Overall laundry care saw a slight decline in retail volume terms in Hong Kong in 2023, due to saturation after several pandemic waves. This led many people to stock up on laundry care products, which they continued to use up in 2023. The decrease in…

The private housing supply predicted for 2023 has approximately doubled compared with the pre-pandemic period, which is set to lead to an increase in demand for large cooking appliances. Following a spike in new residential housing, especially after…

Since the lifting of COVID-19 restrictions in late 2022, juice in Hong Kong has demonstrated a steady recovery. However, unlike other soft drinks categories, juice has not benefited as much from the resumption of tourist flows and increased foot…

The lifting of pandemic restrictions sparked a resurgence in foot traffic in commercial districts in the city, leading to a significant increase in demand for jewellery in Hong Kong. After a freeze of 2-3 years since the outbreak of the pandemic in…

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…

With Hong Kong’s economy reopening, consumer spending and income growth are expected to accelerate. However, elevated prices lead to more cautious consumer behaviour, while income inequalities persist at high levels, with wealth concentrated among a…