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Learn moreJan 2021
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Fine wines/champagne and spirits experienced a less dramatic impact from COVID-19 than personal luxury categories, largely as a result of its strong local consumer base. While on-trade sales were seriously affected by the forced closure of catering businesses and premises selling alcoholic drinks for nearly half of 2020, many consumers shifted to off-trade channels to purchase alcohol.
During the COVID-19 crisis, retailers and producers engaged in aggressive promotional activity as they competed for the attention of local consumers. This was a particularly prominent feature of the online arena, as players targeted the general shift to e-commerce in the context of consumer concerns about viral transmission in physical stores and the appeal of the convenience and safety of online shopping.
E-commerce saw a significant rise in its share of sales across luxury industries in 2020, including fine wines/champagne and spirits, as consumers appreciated the reduced risk of viral transmission and the convenience of 24/7 shopping and home delivery provided by the channel. Wine and spirits producers and retailers launched aggressive online promotions of luxury products with free home delivery.
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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.
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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.