Over the forecast period, demand within consumer appliances in Hong Kong is expected to remain stable. Because demand is mainly driven by replacement cycles, volume growth rates are expected to be moderate, especially those for major appliances with long life cycles.
Consumer appliances in Hong Kong is a very mature market that is largely dominated by international brands, such as Panasonic, Philips and Braun. Because demand is mainly driven by the replacement of older units, companies tend to focus on marketing their brands to second- and third-time buyers and catering to the increasing preference for premium and multifunctional products.
Distribution of consumer appliances continued to be concentrated in store-based retailing channels in Hong Kong in 2018. Although more than 80% of the population enjoys easy internet access, online platforms are more frequently used for research and price comparison purposes than to place orders.
The Producer Responsibility Scheme, which came into effect in Hong Kong in August 2018, shifts the cost of electronic waste disposal to producers and sellers. According to the law, suppliers and sellers of electrical and electronic equipment are liable for the cost of collecting, handling and disposing of old and unwanted appliances.
Affordably priced brands with high-end specifications from mainland China are expected to have a more disruptive impact within consumer appliances in Hong Kong over the forecast period. For example, over 2017-2018 Chinese tech giant Xiaomi launched an array of “smart living” consumer appliances that can be seamlessly controlled via its Mijia mobile application.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances 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 Consumer Appliances market research database.