PROSPECTS AND OPPORTUNITIES
Price-sensitive consumers and northbound tourism a roadblock to recovery
Consumers in Hong Kong are becoming increasingly price-sensitive and value-conscious in their purchasing decisions, as there is a growing shift towards experiential and cultural consumption rather than traditional shopping. Therefore, value sales (at constant 2024 prices) of appliances and electronics specialists are set to continue declining over the forecast period.
Rising costs and further shift online to further challenge recovery
The rise of e-commerce will continue to place significant pressure on traditional bricks-and-mortar appliances and electronics specialists, further increasing the challenges of operating in the current economic landscape. Local consumers increasingly consider physical stores as a testing/viewing platform, conducting various tests and other checks to see if the product is suitable for their home.
Leveraging cross-border e-commerce sales
Due to the increasing mobility of local consumers and the popularity of northbound consumption, sales of appliances and electronics specialists in Hong Kong are unlikely to recover over the forecast period. However, an increasing number of online players are expected to expand their sales via cross-border e-commerce.
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Overview:
Understand the latest market trends and future growth opportunities for the Appliances and Electronics Specialists industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Appliances and Electronics Specialists industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Appliances and Electronics Specialists in Hong Kong, China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Appliances and Electronics Specialists in Hong Kong, China?
- Which are the leading retailers in Appliances and Electronics Specialists in Hong Kong, China?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Appliances and Electronics Specialists in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Challenging year for sales due to price-sensitive consumers and outbound travel
Major brands close stores due to challenging landscape
E-commerce one of the few growth drivers as online infrastructure continues to develop
Price-sensitive consumers and northbound tourism a roadblock to recovery
Rising costs and further shift online to further challenge recovery
Leveraging cross-border e-commerce sales
Retail in Hong Kong, China - Industry Overview
Retail in 2024: The big picture
Changing consumer behaviour influences spending patterns
E-commerce adoption increases as digital literacy and popularity of channel grows
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
China National Day (also known as Golden Week)
Chinese New Year (Spring Festival)
Christmas and New Year
DISCLAIMER
Appliances and Electronics Specialists
Appliances and electronics specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: domestic electrical appliances, consumer electronics (including mobile phones), and/or computers and peripherals. Appliances and electronics specialists value sales excludes revenues derived from telecoms service plans and top-up cards. Example brands include Apple, Best Buy, and Gome.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Appliances and Electronics Specialists research and analysis database.
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