A limited recovery is being seen in 2021, with tourist spending, which held a significant share of sales before the pandemic, still being largely absent. Designer apparel and footwear (ready-to-wear) saw sales plummet in 2020, largely as a result of the marked fall in inbound tourism due to the COVID-19 pandemic.
Chanel remains the leading brand in designer apparel and footwear (ready-to-wear) in Hong Kong, followed by Gucci and Louis Vuitton. Chanel remained resilient given its prominence among affluent consumers as well as the strong brand loyalty it enjoys among the wider general public.
While the dramatic drop in inbound tourism had a marked impact on sales of designer apparel and footwear (ready-to-wear) in 2020, demand from local consumers also fell significantly. Many local consumers steered clear of physical stores because of concerns about viral transmission through social contact.
E-commerce registered very strong sales and share growth in designer apparel and footwear (ready-to-wear) in 2020, albeit coming from a small base given its limited penetration prior to the pandemic. Brands such as Louis Vuitton and Gucci launched e-commerce sites in 2020 for their apparel and footwear in Hong Kong.
Digital engagement is becoming a must in designer apparel and footwear (ready-to-wear) in Hong Kong. Over the forecast period, digital commerce will become normalised, while digital engagement with consumers will become increasingly important.
The weakening of consumer confidence and purchasing power due to the economic impact of measures to limit the spread of COVID-19 has been combining with rising awareness of environmental issues to support increasing interest in pre-owned fashion. A more conservative attitude to spending and a focus on adopting more sustainable practices are enabling platforms selling pre-owned fashion to gain traction as consumers rethink their approach to shopping behaviour.
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Understand the latest market trends and future growth opportunities for the Designer Apparel and Footwear (Ready-to-Wear) industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Designer Apparel and Footwear (Ready-to-Wear)
This is the aggregation of designer apparel and designer footwear.See All of Our Definitions
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