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Country Report

Fine Wines/Champagne and Spirits in

Fine Wines/Champagne and Spirits in Hong Kong, China

19 pages, Feb 2018

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Improved economic conditions and Chinese tourist arrivals to benefit category

Fine wine/champagne and spirits registered marginally stronger current value growth in 2017 compared to 2016, owing to the expected improvement in GDP growth in both Hong Kong and China, as well as the recovery in Chinese tourist arrivals. With Hong Kong’s economy closely tied to that of China’s, the latter’s expected improvement in economic conditions boosted consumers’ confidence to spend.

Differences in consumption patterns steer the development of fine wines

Fine wines led current value growth in 2017, driven by fine champagne, with the same trend expected for the forecast period. Fine champagne, which is traditionally consumed for special occasions witnessed an extension of consumption to a more casual occasion.

Luxury spirits continues to lag behind in popularity

While luxury spirits registered positive growth in 2017, with this trend predicted to continue into the forecast period, its growth pace was significantly slower than fine wines. Many consumers continue to stay away from many luxury spirits such as luxury brandy and cognac, which are perceived to be for more mature consumers.

COMPETITIVE LANDSCAPE

Emergence of small brands intensify competition

Moët Hennessy Diageo Hong Kong Ltd, the leader of fine wines/champagne and spirits, witnessed the strongest growth in value share in 2016, helping it to consolidate its leadership. The player’s share gain was attributed to its strong presence in fine champagne with its leading brand, Moët & Chandon, which enjoys strong consumer awareness, and is top of mind when selecting fine champagne.

Distribution channels remain stable

Specialist retailers of alcohol, including wine and spirits, continued to be the preferred distribution channel for consumers in 2017. As consumers gain sophistication in their knowledge of fine wines/champagne and spirits, they also want the advice of professionals before committing to a purchase, especially with the high price tag involved.

Internet retailing still limited

Internet retailing continued to hold a low value share in 2017. Consumers typically use internet retailing to purchase renowned brands or for repeated purchases and they only do so with trusted websites, which tend to be offered by existing specialist retailers that they know well.

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Overview

Why buy this report?

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.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Fine Wines/Champagne and Spirits 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 Fine Wines/Champagne and Spirits industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Fine Wines/Champagne and Spirits in Hong Kong, China market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Fine Wines/Champagne and Spirits in Hong Kong, China?
What are the major brands in Hong Kong, China?
How dynamic is the growth of Fine Wines/Champagne and Spirits internet sales?
What is driving growth?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply function

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Fine Wines/Champagne and Spirits in Hong Kong, China - Category analysis

HEADLINES

PROSPECTS

Improved economic conditions and Chinese tourist arrivals to benefit category

Differences in consumption patterns steer the development of fine wines

Luxury spirits continues to lag behind in popularity

COMPETITIVE LANDSCAPE

Emergence of small brands intensify competition

Distribution channels remain stable

Internet retailing still limited

CATEGORY DATA

Table 1 Sales of Fine Wines/Champagne and Spirits by Category: Value 2012-2017
Table 2 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2012-2017
Table 3 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2012-2016
Table 4 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2013-2016
Table 5 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2012-2017
Table 6 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2017-2022
Table 7 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2017-2022

Luxury Goods in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Recovery in tourist arrivals and economic conditions benefit luxury goods

Luxury goods rebounds to positive growth during 2017

Luxury goods players emphasise consumer engagement

Internet retailing remains a small channel

Luxury goods to grow positively, though challenges remain

MARKET INDICATOR

Table 8 Number of High Net Worth Individuals (HNWI): 2012-2017

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2012-2017
Table 10 Sales of Luxury Goods by Category: % Value Growth 2012-2017
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2017
Table 12 NBO Company Shares of Luxury Goods: % Value 2012-2016
Table 13 LBN Brand Shares of Luxury Goods: % Value 2013-2016
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2017
Table 15 Forecast Sales of Luxury Goods by Category: Value 2017-2022
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2017-2022

Megatrends

Country Report

Fine Wines/Champagne and Spirits in Hong Kong, China

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Executive Summary

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PROSPECTS

Improved economic conditions and Chinese tourist arrivals to benefit category

Differences in consumption patterns steer the development of fine wines

Luxury spirits continues to lag behind in popularity

COMPETITIVE LANDSCAPE

Emergence of small brands intensify competition

Distribution channels remain stable

Internet retailing still limited

Overview

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Table of Contents

Fine Wines/Champagne and Spirits in Hong Kong, China - Category analysis

HEADLINES

PROSPECTS

Improved economic conditions and Chinese tourist arrivals to benefit category

Differences in consumption patterns steer the development of fine wines

Luxury spirits continues to lag behind in popularity

COMPETITIVE LANDSCAPE

Emergence of small brands intensify competition

Distribution channels remain stable

Internet retailing still limited

CATEGORY DATA

Luxury Goods in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Recovery in tourist arrivals and economic conditions benefit luxury goods

Luxury goods rebounds to positive growth during 2017

Luxury goods players emphasise consumer engagement

Internet retailing remains a small channel

Luxury goods to grow positively, though challenges remain

MARKET INDICATOR

MARKET DATA

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