Retail in Hong Kong, China - Research and Markets

Retail saw another year of solid current value growth in Hong Kong in 2023. However, the increase was mainly due to the low base, and sales were unable to recover to the 2018 level – pre-pandemic and protests. Nevertheless, benefiting from the rebound of inbound tourism and positive consumer sentiment, retail value sales increased. Measures such as improving labour market conditions, and the issuance of consumer vouchers by the government provided support for local consumer demand.

The Retail in Hong Kong, China report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.

Product coverage: Retail E-Commerce, Retail Offline.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

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Get a detailed picture of the Retail market;
Pinpoint growth sectors and identify factors driving change;
Understand the competitive environment, the market’s major players and leading brands;
Use five-year forecasts to assess how the market is predicted to develop.

RETAIL IN HONG KONG, CHINA

EXECUTIVE SUMMARY

Retail in 2023: The big picture
Retail and tourism
Revival of outbound travel prevents full recovery
What next for retail?

OPERATING ENVIRONMENT

Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2023
Seasonality
China National Day (also known as Golden Week)
Chinese New Year (Spring Festival)
Christmas and New Year

MARKET DATA

Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2018-2023
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2018-2023
Table 3 Sales in Retail Offline by Channel: Value 2018-2023
Table 4 Sales in Retail Offline by Channel: % Value Growth 2018-2023
Table 5 Retail Offline Outlets by Channel: Units 2018-2023
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2018-2023
Table 7 Sales in Retail E-Commerce by Product: Value 2018-2023
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2018-2023
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 11 Sales in Grocery Retailers by Channel: Value 2018-2023
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2018-2023
Table 13 Grocery Retailers Outlets by Channel: Units 2018-2023
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2018-2023
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2018-2023
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2018-2023
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 21 Retail GBO Company Shares: % Value 2019-2023
Table 22 Retail GBN Brand Shares: % Value 2020-2023
Table 23 Retail Offline GBO Company Shares: % Value 2019-2023
Table 24 Retail Offline GBN Brand Shares: % Value 2020-2023
Table 25 Retail Offline LBN Brand Shares: Outlets 2020-2023
Table 26 Retail E-Commerce GBO Company Shares: % Value 2019-2023
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2020-2023
Table 28 Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 29 Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2023-2028
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2023-2028
Table 36 Forecast Sales in Retail Offline by Channel: Value 2023-2028
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2023-2028
Table 38 Forecast Retail Offline Outlets by Channel: Units 2023-2028
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2023-2028
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2023-2028
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2023-2028
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2023-2028
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2023-2028
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2023-2028
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2023-2028
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2023-2028
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2023-2028
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028

DISCLAIMER

SOURCES

Summary 2 Research Sources

CONVENIENCE RETAILERS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

7-Eleven carries out more promotions in 2023
7-Eleven’s closest competitor, Circle K, is also active in the market
Supermarkets enter convenience stores

PROSPECTS AND OPPORTUNITIES

Tourism rebound expected to drive sales
Circle K’s foreign ownership and strategy
Shopping districts set to see changing traffic patterns

CHANNEL DATA

Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 56 Sales in Convenience Retailers by Channel: Value 2018-2023
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2018-2023
Table 58 Convenience Retailers GBO Company Shares: % Value 2019-2023
Table 59 Convenience Retailers GBN Brand Shares: % Value 2020-2023
Table 60 Convenience Retailers LBN Brand Shares: Outlets 2020-2023
Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2023-2028
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2023-2028

SUPERMARKETS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Oligopoly in supermarkets, and rises in prices
Thai supermarket chain Big C enters Hong Kong
ParknShop expands its online shopping capability threefold

PROSPECTS AND OPPORTUNITIES

Sustainability matters
Higher number of extreme weather events likely to drive sales in supermarkets
Rising costs and grocery shopping in China will challenge supermarkets

CHANNEL DATA

Table 65 Supermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 66 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 67 Supermarkets GBO Company Shares: % Value 2019-2023
Table 68 Supermarkets GBN Brand Shares: % Value 2020-2023
Table 69 Supermarkets LBN Brand Shares: Outlets 2020-2023
Table 70 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 71 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

SMALL LOCAL GROCERS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Return to mobility impacts sales of small local grocers
Increase in new speciality grocers with large retail space
Small local grocers remain popular, with stronger growth than supermarkets

PROSPECTS AND OPPORTUNITIES

Increased challenges in terms of resources and channel competition
Changing consumer habits and preferences
Blurring lines between variety stores/convenience stores/local small grocers

CHANNEL DATA

Table 72 Small Local Grocers: Value Sales, Outlets and Selling Space 2018-2023
Table 73 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 74 Small Local Grocers GBO Company Shares: % Value 2019-2023
Table 75 Small Local Grocers GBN Brand Shares: % Value 2020-2023
Table 76 Small Local Grocers LBN Brand Shares: Outlets 2020-2023
Table 77 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 78 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPAREL AND FOOTWEAR SPECIALISTS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Even a significant rebound cannot bring sales back to the pre-pandemic level
The rising Asian fast-fashion brand Love, Bonito expands in Hong Kong
Sportswear brands also expand in Hong Kong

PROSPECTS AND OPPORTUNITIES

More modest growth anticipated for apparel and footwear specialists
Demand for sportswear will continue to be strong
Concept of sustainability is becoming increasingly important in Hong Kong

CHANNEL DATA

Table 79 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 80 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 81 Apparel and Footwear Specialists GBO Company Shares: % Value 2019-2023
Table 82 Apparel and Footwear Specialists GBN Brand Shares: % Value 2020-2023
Table 83 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2020-2023
Table 84 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 85 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPLIANCES AND ELECTRONICS SPECIALISTS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Retail sales return to decline in 2023
In 2023 Gome exits the Hong Kong market
Yoho performs well with an OMO business model

PROSPECTS AND OPPORTUNITIES

Sales expected to return to growth over the forecast period
Online sales will continue to be driven by small appliances and electronic devices/ gadgets
Riding on cross-border e-commerce and retail sales

CHANNEL DATA

Table 86 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 87 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 88 Appliances and Electronics Specialists GBO Company Shares: % Value 2019-2023
Table 89 Appliances and Electronics Specialists GBN Brand Shares: % Value 2020-2023
Table 90 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2020-2023
Table 91 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 92 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

HEALTH AND BEAUTY SPECIALISTS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Sa Sa International’s sales rebound thanks to the return of mainland tourists
Watsons’ O2O strategy and other developments
Mannings rides the increased demand for healthcare products

PROSPECTS AND OPPORTUNITIES

Hong Kong beauty specialists maintain advantages for tourists
Skinification emerges during the pandemic, and is an enduring trend
Integrating technology and sustainability concepts

CHANNEL DATA

Table 93 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 94 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 95 Sales in Health and Beauty Specialists by Channel: Value 2018-2023
Table 96 Sales in Health and Beauty Specialists by Channel: % Value Growth 2018-2023
Table 97 Health and Beauty Specialists GBO Company Shares: % Value 2019-2023
Table 98 Health and Beauty Specialists GBN Brand Shares: % Value 2020-2023
Table 99 Health and Beauty Specialists LBN Brand Shares: Outlets 2020-2023
Table 100 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 101 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 102 Forecast Sales in Health and Beauty Specialists by Channel: Value 2023-2028
Table 103 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2023-2028

HOME PRODUCTS SPECIALISTS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Sales of homewares and home furnishings decline, but stronger decline prevented by home décor and other home products
IKEA tests out smaller formats and innovative promotional activities

Nitori enters Hong Kong, becoming a competitor for IKEA

PROSPECTS AND OPPORTUNITIES

Sluggish housing sales set to lead to slow growth in homewares and home furnishings stores and home improvement and gardening stores
Consistently offering innovative and enjoyable in-store experiences to drive customer traffic
Northern Metropolis Development and Lantau Tomorrow will bring demand in the long term

CHANNEL DATA

Table 104 Home Products Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 105 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 106 Sales in Home Products Specialists by Channel: Value 2018-2023
Table 107 Sales in Home Products Specialists by Channel: % Value Growth 2018-2023
Table 108 Home Products Specialists GBO Company Shares: % Value 2019-2023
Table 109 Home Products Specialists GBN Brand Shares: % Value 2020-2023
Table 110 Home Products Specialists LBN Brand Shares: Outlets 2020-2023
Table 111 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 112 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 113 Forecast Sales in Home Products Specialists by Channel: Value 2023-2028
Table 114 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2023-2028

GENERAL MERCHANDISE STORES IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

MUJI opens an outlet in the new shopping centre The Wai
Developments from leading department stores
Changing consumer shopping patterns

PROSPECTS AND OPPORTUNITIES

Kai Tak will be the new retail destination, and includes a new Sogo department store
More Japanese food expected to be available in general merchandise stores
Yata set to open and revamp stores, while AEON is shifting its retail strategy

CHANNEL DATA

Table 115 General Merchandise Stores: Value Sales, Outlets and Selling Space 2018-2023
Table 116 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 117 Sales in General Merchandise Stores by Channel: Value 2018-2023
Table 118 Sales in General Merchandise Stores by Channel: % Value Growth 2018-2023
Table 119 General Merchandise Stores GBO Company Shares: % Value 2019-2023
Table 120 General Merchandise Stores GBN Brand Shares: % Value 2020-2023
Table 121 General Merchandise Stores LBN Brand Shares: Outlets 2020-2023
Table 122 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 123 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 124 Forecast Sales in General Merchandise Stores by Channel: Value 2023-2028
Table 125 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2023-2028

DIRECT SELLING IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Sales remain similar to the pre-pandemic level
Amway continues to lead direct selling in Hong Kong
Herbalife weight management products remain popular

PROSPECTS AND OPPORTUNITIES

Direct selling anticipated to see slow and stable growth during the forecast period
The rise of conversational/social commerce set to benefit direct selling
Retail e-commerce will still represent a threat to direct selling

CHANNEL DATA

Table 126 Direct Selling by Product: Value 2018-2023
Table 127 Direct Selling by Product: % Value Growth 2018-2023
Table 128 Direct Selling GBO Company Shares: % Value 2019-2023
Table 129 Direct Selling GBN Brand Shares: % Value 2020-2023
Table 130 Direct Selling Forecasts by Product: Value 2023-2028
Table 131 Direct Selling Forecasts by Product: % Value Growth 2023-2028

VENDING IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

More brands and retailers are expanding through vending
More healthy options available in schools
Reusable lunchbox vending machines at universities

PROSPECTS AND OPPORTUNITIES

Vending will continue to thrive in Hong Kong
Sales of garbage bags in vending machines
Vending expected to see expansion of the products offered

CHANNEL DATA

Table 132 Vending by Product: Value 2018-2023
Table 133 Vending by Product: % Value Growth 2018-2023
Table 134 Vending GBO Company Shares: % Value 2019-2023
Table 135 Vending GBN Brand Shares: % Value 2020-2023
Table 136 Vending Forecasts by Product: Value 2023-2028
Table 137 Vending Forecasts by Product: % Value Growth 2023-2028

RETAIL E-COMMERCE IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

E-commerce turns to decline in 2023 as mobility restrictions are lifted
Online shopping and omnichannel retailing are irreversible trends
Hong Kong consumer preferences online

PROSPECTS AND OPPORTUNITIES

Conversational commerce set to rise amongst local retailers
Government promotes e-commerce operations to local retailers
Rapid development of cross-border logistics set to drive cross-border e-commerce

CHANNEL DATA

Table 138 Retail E-Commerce by Channel: Value 2017-2022
Table 139 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 140 Retail E-Commerce by Product: Value 2017-2022
Table 141 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 142 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 143 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 144 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 145 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 146 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 147 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027

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