The apparel and footwear industry has benefited from the nascent recovery in Hong Kong retail, starting from the end of 2017. Unlike the previous jump in retail sales from 2010 to 2014, which was driven by the strong buying power of visitors from mainland China, this time, growth was achieved thanks to more positive local consumer sentiment.
Hong Kong’s Generation Z, a generation that values comfort, function and exclusivity, demands unique apparel and footwear to represent their own personality and lifestyle. Unlike millennial consumers, who favour functionality and adopted fast fashion, Generation Z consumers need something unique for them to share on social media across Instagram, Snapchat and YouTube.
The concept of ethical fashion has been widely implemented in apparel and footwear. From a no-fur campaign led by Gucci to the newly launched pineapple leaf fibre vegan shoes of Hugo Boss, brands are trying hard to alter their product design and composition to incorporate ethical fashion.
Since the slump in rental rates in 2015, fast fashion brands such as Uniqlo, Bossini and H&M have implemented an aggressive strategy to boost retail sales in Hong Kong, namely expanding the number of their physical retail stores. This move has resulted in overexpansion with tonnes of unsold apparel and footwear products left over in 2017.
The US-China trade war is hindering the recovery of retail sales in Hong Kong. Considering the uncertain economic status, industry players are being cautious in regard to 2019 growth while celebrating the success of 2018.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Delivery: Files are delivered directly into your account within a few minutes of purchase.
Discover the latest market trends and uncover sources of future market growth for the Apparel and Footwear industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Apparel and Footwear industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Apparel and Footwear in Hong Kong, China market research report includes:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Clothing and Footwear market research database.