The fourth wave of the COVID-19 pandemic led several lockdown measures to be imposed during the first quarter of 2021. This made Hong Kong consumers more cautious, and they kept their distance once again, after their increased willingness to leave the house and spend during the fourth quarter of 2020.
HKTVmall, the leading e-commerce player in Hong Kong, retained its leading position in 2021 by introducing a number of technical enrichments to e-commerce during the year. During the first half of 2021, HKTVmall launched an exclusive pre-owned goods marketplace, EcoMart, to attract new customers who wanted to trade or exchange their unwanted items or even give them away as a gift to other customers.
Whilst both foreign and domestic e-commerce players were trying hard to capture domestic consumption power, which remained in Hong Kong during the travel lockdown period, domestic consumers were seeking retailers with a local digital identity in the e-commerce space.
With support from HKTVmall and its technology arm Shoalter, Hong Kong apparel company I.T.
Shoalter Technology, a wholly-owned subsidiary of HKTVmall, aims to provide an end-to-end solution to businesses that wish to set up their online shops in Hong Kong. Shoalter was founded in 2020, after Ricky Wong, the founding chairman of HKTVmall, announced his group’s focus was shifting from growing the HKTVmall business to helping other e-commerce players to grow by leveraging HKTVmall’s successful business model and its technology arm.
Compared with other retail channels, e-commerce was the winner during the pandemic, as both social distancing measures and travel lockdowns encouraged Hong Kong consumers to spend more time at home and browse and purchase goods and services online. Whilst both the government and consumers were expecting that recovery from the pandemic and the reopening of the border would happen in the first half of 2022, the outbreak of the fifth wave of the pandemic began in December 2021/January 2022.
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Sales of consumer goods to the general public via the Internet. Please note that this includes sales through mobile phones and tablets (i.e. m-commerce). E-commerce includes sales generated through pure e-commerce websites and through sites operated by store-based retailers. Sales data is attributed to the country where the consumer is based, rather than where the retailer is based. The definition of e-commerce is agnostic as to where actual payment takes place; if an order is initiated online, it is considered to be an e-commerce transaction, even if the order is ultimately paid for in-store (or elsewhere). As a result, all ‘click-and-collect’ and ‘collect-at-store’ transactions are counted as e-commerce sales. E-commerce excludes sales of: (a) Consumer-to-consumer (C2C) and business-to-business (B2B) sales, although please note that sales between businesses and consumers (i.e. B2C sales) on sites such as eBay are included; (b) Sales of motor vehicles, motorcycles and vehicle parts; (c) Tickets for events (sports, music concerts, etc.) and travel; (d) Sales of travel and holiday packages; (e) Revenue generated by online gambling sites; (f) Returned products/unpaid invoices; and (h) Internet sales from direct selling companies, as these are tracked in Direct Selling market size/shares. Example e-commerce brands include Amazon.com, Zappos.com, Apple.com, iTunes, Rakuten, Tesco.com, Dell.com, Coles Online, etc. 3rd Party Merchant sales through online marketplaces, such as Amazon.com, eBay.com and Walmart.com, are included and split out in shares. 3rd party merchants are the summation of sales that come from businesses that are present on an online marketplace (e.g. Amazon, Alibaba). Marketplaces are websites that allow multiple merchants to sell on the marketplace website, with the marketplace operator processing the transactions, but many marketplaces provide offer other services as to help with shipping, handling, payment, and product storage. The marketplace is not the merchant of record legally, but for the sake of shares, sales from 3rd part merchants are attributed to the marketplace brand operator.See All of Our Definitions
This report originates from Passport, our E-Commerce (Goods) research and analysis database.
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