PROSPECTS AND OPPORTUNITIES
E-commerce set to resume growth as Hong Kong gradually shifts towards a digital-centric economy
E-commerce in Hong Kong is set to resume value growth over the forecast period, due to an increasing number of local retailers that traditionally operate physical stores having to adopt and improve their online retail infrastructure since the pandemic. This is also likely to continue as the next generation of consumers will be native users of e-commerce shopping apps, further driving the prospective growth rates in the near future.
Ongoing development of northbound cross-border logistics to further drive e-commerce growth
As the number of mainland Chinese citizens in Hong Kong continues to rise, so does the demand for cross-border e-commerce. Thus, the entry and expansion of cross-border e-commerce will continue to increase and act as a growth driver for the channel as a whole.
Hong Kong’s shift towards a digital, cashless economy is strong growth driver for online sales
Hong Kong’s retail landscape is slowly but surely shifting towards a digital, cashless economy. This is a boon for e-commerce as a whole, because when the city finally becomes fully cashless, consumers will naturally gravitate towards online platforms as there will be less of a need to visit physical stores to purchase certain goods.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail E-Commerce 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 Retail E-Commerce 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 Retail E-Commerce 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 Retail E-Commerce in Hong Kong, China?
- Which are the leading retailers in Retail E-Commerce 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?
Retail E-Commerce in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Overall channel sees decline, but online adoption rates increase
Taobao retains lead, while HKTVmall gains further share
Preference for online shopping as e-commerce gains share from physical outlets
E-commerce set to resume growth as Hong Kong gradually shifts towards a digital-centric economy
Ongoing development of northbound cross-border logistics to further drive e-commerce growth
Hong Kong’s shift towards a digital, cashless economy is strong growth driver for online 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
The following categories and subcategories are included:
Retail E-Commerce
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail E-Commerce
Online sales of new and used goods to the public from a business for personal or household consumption. This figure includes those purchases made via online marketplaces, assuming it is a business-to-consumer purchase. This figure includes the purchase of mobile apps, games, in-app purchases and downloaded versions of recorded music, film, video games, books, journals and magazines. Note: The streaming versions of these media types, which are not tracked in Retailing, are captured in Streaming Services E-Commerce. Goods purchased via quick-delivery services, such as Amazon Prime, are captured here, whereas the subscription fee for such a service is captured in Other E-Commerce. Retail purchases made via hyperlocal or third-party delivery platforms are also included here, while the delivery fees associated with such services are included in Other E-Commerce. This category excludes the following industries and channels: • Specialist retailers of motor vehicles; motorcycles, vehicle parts and fuel • The rental, hire and leasing of products • Wholesalers, cash and carry outlets • Consumer-to-consumer transactions • Informal retail which is not declared to tax authorities
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 Retail E-Commerce research and analysis database.
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