All types of footwear witnessed plummeting sales in Hong Kong, China during the COVID-19 pandemic in 2020. Domestic consumers had little need to purchase new footwear as most worked or studied from home.
Footwear in Hong Kong is largely supported by the athleisure fashion and fitness trends, along with an ongoing stream of limited edition collections and innovations. Key limited edition and crossover collections recently included Converse X Joshua Vides, Asics X Vivienne Westwood, adidas Yeezy 700 and the Nike X Off-white Waffle Racer.
As many consumers steered clear of offline stores for fear of infection during the health crisis, footwear brands sharply increased their online presence in order to stay connected and engaged with consumers, especially sportswear brands. Most brands rolled out WhatsApp business contacts for their physical stores, enabling in-store sales teams to maintain communication with existing customers.
Footwear is expected to record strong double-digit constant 2020 retail value growth in 2021, 2022 and 2023, followed by much lower rates over the reminder of the forecast period. Actual constant value sales will exceed pre-pandemic levels by 2022.
Cross-over collections between sports brands and fashion brands are set to remain popular into the forecast period. Onitsuka Tiger, the sports-inspired sneaker brand, has shifted its focus from sports-inspired to more fashion-driven items.
Consumers in Hong Kong, China are likely to place greater attention to sustainability and zero-waste lifestyles in light of COVID-19 pandemic, with many opting for brands which demonstrate more purposeful leadership here. The sustainable product series from Nike has enjoyed a strong performance, and similar ranges are also likely to become more popular in the post-pandemic environment.
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Understand the latest market trends and future growth opportunities for the Footwear 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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This report originates from Passport, our Footwear research and analysis database.
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