Home and garden current value sales in Hong Kong marginally declined in 2022 compared to the previous year’s dynamic performance, driven primarily by the presence of COVID-19 lockdowns in the city. Social distancing rules, retail store closures, supply chain disruptions and a contracting housing market combined to dampen growth rates in 2022.
Hong Kong’s shrinking housing market has had an important impact on a number of home and garden categories. Hong Kong has one of the world’s most expensive real estate markets, which is driving down the average size of apartments.
IKEA, locally represented by DFI Retail Group, remained the leading brand of home and garden in 2022. The large, multinational brand benefited from its considerable resources to develop its e-commerce presence, which enabled it to gain value share from smaller players.
Retail offline is historically dominant in Hong Kong across home and garden. However, in 2022, pandemic restrictions pushed a number of brands and retailers to move sales online, resulting in further value growth and share gain by e-commerce in the local market.
Value sales of home and garden (at constant 2022 prices) are set to record moderate growth over the forecast period, with many consumers resuming their regular, out-of-home lifestyles as pandemic restrictions have now ended. Hong Kong’s COVID-19 lockdowns were particularly severe and thus, the pent-up demand to travel will likely be strong among many local citizens.
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Understand the latest market trends and future growth opportunities for the Home and Garden 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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Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.See All of Our Definitions
This report originates from Passport, our Home and Garden research and analysis database.
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