PROSPECTS AND OPPORTUNITIES
Ageing population and northbound spending may present challenges
Although the outlook for supermarkets is fairly positive, with low value growth (at constant 2024 prices) for much of the forecast period, making bulk purchases from supermarkets is projected to decline as the demographic aged 60 years and above in Hong Kong, which is rising, prefers to buy small items on a frequent basis or visit wet food markets. This is being driven by reduced appetite and a preference to save money for other purchases, and is a factor that can negatively impact the growth of supermarkets in the coming years.
E-commerce may offer some hope for growth in otherwise uncertain market
As an increasing number of local consumers become comfortable with online shopping, there will be a continued shift from in-store purchases to e-commerce, with foods e-commerce predicted to record further dynamic growth over the forecast period. This trend has persisted post-pandemic as more options and platforms continue to emerge and establish footholds in Hong Kong, leading to a possible decline in foot traffic in physical stores.
Sustainability continues to gain importance among local consumers
Consumers visiting supermarkets in Hong Kong over the forecast period are likely to become increasingly drawn to goods with more sustainable values. This is apparent with the increasing shelf space allocated for sustainable/local produce such as local vegetables, eggs and meat, among others.
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Overview:
Understand the latest market trends and future growth opportunities for the Supermarkets 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 Supermarkets 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 Supermarkets 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 Supermarkets in Hong Kong, China?
- Which are the leading retailers in Supermarkets 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?
Supermarkets in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Falling sales for supermarkets despite increasing demand for convenience food
Stability among the leaders, but new players from mainland China threaten the status quo
Rising number of Asian discount supermarkets enter Hong Kong
Ageing population and northbound spending may present challenges
E-commerce may offer some hope for growth in otherwise uncertain market
Sustainability continues to gain importance among local consumers
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
Supermarkets
Supermarkets are chained or independent retail outlets with a selling space of between 400 and 2,500 square metres and with a primary focus on selling food/beverages/tobacco and other groceries. Supermarkets may also sell a selection of non-groceries, but the product mix is skewed towards grocery items. Example brands include Casino, Kroger, and Tesco. Exception: In some markets, primarily the US, Australia and Hong Kong, there are grocery retailer brands that operate outlets with a selling space of over 2,500 square metres, but offer only a very limited range of non-grocery merchandise or none at all. These brands are included in Supermarkets.
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 Supermarkets research and analysis database.
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