Hong Kong, China

After the problems experienced in recent years, super premium beauty and personal care is expected to see a return to positive growth rates in 2021. Self-pampering will be growing in importance, while premium brands will be pushing hard their…

The COVID-19 pandemic had a devastating impact on the global economy in 2020, with consumers in nearly all socioeconomic groups significantly affected. However, the most affluent consumers in Hong Kong escaped relatively unscathed from the economic…

Restrictions on international travel due to COVID-19 resulted in a marked decline in inbound tourism in 2020, with a 90% fall in tourists visiting Hong Kong from Mainland China. Visitors from Mainland China were estimated to account for around 50% of…

Luxury writing instruments and stationery, after a number of years of falling sales, is expected to return to posting positive growth rates in 2021, even if the continued absence of Mainland Chinese tourists is still hurting the category. Things have…

Sales of luxury timepieces are expected to return to positive growth rates in Hong Kong in 2021, helped by the increasing availability of entry-level products. The rarity factor of luxury timepieces will also be supporting sales growth of these…

The Hong Kong travel industry has taken a major hit since 2019. Social unrest in 2019 and COVID-19 in 2020 and 2021 have strongly deterred tourists from visiting Hong Kong. This is therefore continuing to impact luxury portable consumer electronics,…

Luxury leather goods, in common with other areas of personal luxury, saw sales plummet in 2020 as a result of both the marked decline in inbound tourism, especially from Mainland China, and local consumers’ reluctance to visit physical stores during…

After two years of declining sales in 2019 and 2020, hit by social unrest and then the pandemic, sales of luxury jewellery are expected to record double-digit percentage growth in 2021, albeit from what has become a much smaller base. Local…

Luxury hotels are expected to record what looks like relatively strong growth in 2021. However, measured against the severe losses registered in the two previous years, sales will still be a long way short of their 2018 levels in 2021. Due to ongoing…

The luxury goods market in Hong Kong is expected to record a strong rebound in 2021, following two very difficult years for the industry. There has been a resumption in local demand as the prevailing environment returns to being a more positive one,…

Luxury foodservice is expected to record dynamic growth in 2021, backed by a strong local consumer base, which will return to outlets as normal social and economic activity starts to resume as the threat from COVID-19 wanes and the vaccination…

After two years of declining sales, following social unrest in 2019 and early 2020, and then the COVID-19 pandemic in 2020, luxury eyewear has returned to recording positive growth in 2021. This is being driven in particular by the large luxury…

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…

The travel restrictions imposed by the government from March 2020 suspended inbound tourism. It was the first time, in 2020, that no tourists had visited Hong Kong from Mainland China during the 1 May Golden Week. This had a marked impact across the…

A limited recovery is being seen in 2021, with tourist spending, which held a significant share of sales before the pandemic, still being largely absent. Designer apparel and footwear (ready-to-wear) saw sales plummet in 2020, largely as a result of…

Robotic vacuum cleaners has been steadily gaining growth momentum in Hong Kong over the review period but its overall higher than average unit price is traditionally a discouraging factor to greater uptake. Unlike stick vacuum cleaners which received…

Coffee machines is experiencing notable premiumisation in 2021 with current value growth significantly outperforming volume growth, a trend driven by espresso coffee machines and hard pods. While the threat of the pandemic has waned over 2021 in Hong…

After the favourable growth recorded in 2020, freezers has continued to experience demand in 2021. While Hong Kong has not been subject to strict lockdown rules, the idea of preparing meals at home remained more appealing to local consumers compared…

Electric facial cleansers continue to enjoy strong demand in Hong Kong, with higher retail volume growth expected over 2021. The pandemic forced the government to restrict many businesses from opening in order to control the spread of the virus;…

Microwaves continues to be one of the fastest growing categories targeting the kitchen in Hong Kong, with the price range of microwaves continuing to expand to suit all budgets and demands. Nevertheless, one of the main reasons for its impressive…