Over the forecast period, the manufacturing landscape of apparel and footwear specialist retailers is projected to evolve, with an increasing number of manufacturers turning to emerging markets such as Vietnam, Bangladesh and Cambodia for their production needs. In Cambodia and Vietnam for example, manufacturers are incentivised to establish factories through tax exemptions, while in Bangladesh, regulations pertaining the environment are laxer.
The role of physical stores in apparel and footwear specialist retailers will continue to evolve over the forecast period, driven by the rising popularity of internet retailing. With a growing number of consumers preferring to browse and shop for products online, physical stores are expected to transition from being the primary point of sale to becoming a key marketing entity.
Sales of apparel and footwear through online and mobile platforms are expected to increase over the forecast period, driven by Hong Kong’s digitally-savvy consumers. An increasing number of consumers are expected to browse and shop for products online due to the availability of a wide range of products and convenience of shopping from home and on-the-go.
The athleisure trend showed no signs of slowing down in 2018 and continued to drive growth in apparel and footwear specialist retailers. While the athleisure trend was already well established in footwear, it has become increasingly prevalent in apparel towards the end of the review period.
Over the forecast period, customisation of products is expected to become increasingly popular in apparel and footwear specialist retailers, as consumers continue to demand products to express their unique and individual styles. The high price point typically associated with customisation is not expected to deter demand as a growing number of consumers are willing to pay a premium for bespoke products.
In 2018, luxury brands contributed to the positive value growth of apparel and footwear. Luxury brands benefit from the growing demand from visitors from mainland China, who often shop while on holiday in Hong Kong.
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Discover the latest market trends and uncover sources of future market growth for the Clothing and Footwear Specialist Retailers industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Retailing market research database.