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Learn moreJan 2021
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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. Border measures implemented in late March and consumer concerns about exposure to the novel coronavirus through travel resulted in the number of inbound tourists from Mainland China, a key consumer group for designer apparel and footwear (ready-to-wear), dropping dramatically during the year.
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.
The designer apparel and footwear (ready-to-wear) category experienced a slight fall in unit price in 2020 due to aggressive discounting conducted by high-end retailers in order to attract consumers in a challenging environment. High-end retailers, such as Lane Crawford, offered discounts of up to 50% on luxury footwear and apparel through their online stores.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Designer Apparel and Footwear (Ready-to-Wear) 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 Designer Apparel and Footwear (Ready-to-Wear) industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.