Home and Garden in Hong Kong, China

Nano apartments have a significant influence on the home and garden market

In 2018, Hong Kong property prices continued to soar with the property market seeing more small flats being built. Dubbed “nano” flats in the media, these housing units are less than 200sq ft, cost an average of HKD4 million to buy and are popular among young couples.

Eco-friendliness and health-consciousness current trends

Consumers are becoming increasingly concerned about the environment seeking eco-friendly products from the home and garden market. Such products include light-emitting diode lamps (LED) which are more energy efficient than incandescent lamps and which are set to replace the latter.

Home and garden market remains highly competitive and fragmented in Hong Kong

In general, the home and garden market in Hong Kong is highly competitive and fragmented led by the IKEA brand, which offers a wide range of products at reasonable prices. Its stores also benefit from their strategic locations, which has helped IKEA to sustain its prominent position in the industry.

Home and garden specialist retailers remains the largest distribution channel

Home and garden specialist retailers remained the most prominent distribution channel for the home and garden market in 2018. As home improvement stores tend to be concentrated in Mong Kok and Wan Chai, local consumers are able to buy these products under one roof.

Home and garden products set to achieve steady value growth over the forecast period

House prices will continue to soar steadily in the short run making it difficult for average Hong Kong consumers to afford property, even nano apartments. As such, the performance of home and garden products in volume terms is expected to register limited growth.

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