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Country Report

Luxury Goods in

Luxury Goods in Hong Kong, China

69 pages, Feb 2018

US$1,210

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Executive Summary

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Recovery in tourist arrivals and economic conditions benefit luxury goods

According to the Hong Kong Tourism Board, total tourist arrivals for the first 10 months of 2017 recorded stable growth, as did the number of Mainland Chinese tourists, which had declined for consecutively for the two previous years. As Mainland Chinese tourists remained the key purchasers of luxury goods in Hong Kong, the recovery of their arrival into Hong Kong during 2017 thus brought about a positive performance for luxury goods.

Luxury goods rebounds to positive growth during 2017

Luxury goods managed to rebound to positive value growth in 2017 alongside the recovery in Mainland Chinese tourist arrivals into Hong Kong as reported for the first 10 months of 2017 and their regained willingness to spend on luxury goods as the impact of the anti-corruption campaign started to wane. The expected improvement in Hong Kong’s 2017 GDP growth to close to 3.

Luxury goods players emphasise consumer engagement

Luxury goods in Hong Kong witnessed some changes in rankings for players, with Mercedes-Benz Hong Kong, Swatch Group (Hong Kong) and Louis Vuitton Hong Kong finishing 2016 as the top three players. Small brands in luxury leather goods and luxury eyewear gained in prominence towards the end of the review period, as consumers sought niche and unique offerings to accentuate a different personal style.

Internet retailing remains a small channel

Standalone boutiques remained the key purchasing channel for luxury goods in 2017. The high price tag of luxury goods resulted in consumers wanting to be in the boutiques to enjoy the entire brand and shopping experience, while able to see what is available in store as well as gain the advice from the salesperson.

Luxury goods to grow positively, though challenges remain

Luxury goods is expected to register positive value growth at constant 2017 prices over the forecast period. Uncertainty looms whether Mainland Chinese tourist arrivals will continue to be on an upward trend, not to mention that they are keen to travel to other destinations, particularly Europe for luxury goods purchases.

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Luxury Goods Sample Report Luxury Goods Sample Data

Overview

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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.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Goods 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 Luxury Goods industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Goods in Hong Kong, China market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Goods in Hong Kong, China?
What are the major brands in Hong Kong, China?
How dynamic is the growth of Luxury Goods internet sales?
What is driving growth?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply function

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Luxury Goods in Hong Kong, China

EXECUTIVE SUMMARY

Recovery in tourist arrivals and economic conditions benefit luxury goods

Luxury goods rebounds to positive growth during 2017

Luxury goods players emphasise consumer engagement

Internet retailing remains a small channel

Luxury goods to grow positively, though challenges remain

MARKET INDICATOR

Table 1 Number of High Net Worth Individuals (HNWI): 2012-2017

MARKET DATA

Table 2 Sales of Luxury Goods by Category: Value 2012-2017
Table 3 Sales of Luxury Goods by Category: % Value Growth 2012-2017
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2017
Table 5 NBO Company Shares of Luxury Goods: % Value 2012-2016
Table 6 LBN Brand Shares of Luxury Goods: % Value 2013-2016
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2017
Table 8 Forecast Sales of Luxury Goods by Category: Value 2017-2022
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2017-2022

SOURCES

Summary 1 Research Sources

Designer Apparel and Footwear (Ready-To-Wear) in Hong Kong, China

HEADLINES

PROSPECTS

Limited number of consumers focus on designer apparel and footwear

Consumers enjoy many alternative choices

COMPETITIVE LANDSCAPE

Store network optimisation remains key

Companies seek alternative ways to attract consumers

CATEGORY DATA

Table 10 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2012-2017
Table 11 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2012-2017
Table 12 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2012-2016
Table 13 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2016
Table 14 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2012-2017
Table 15 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2017-2022
Table 16 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2017-2022

Fine Wines/Champagne and Spirits in Hong Kong, China

HEADLINES

PROSPECTS

Improved economic conditions and Chinese tourist arrivals to benefit category

Differences in consumption patterns steer the development of fine wines

Luxury spirits continues to lag behind in popularity

COMPETITIVE LANDSCAPE

Emergence of small brands intensify competition

Distribution channels remain stable

Internet retailing still limited

CATEGORY DATA

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2012-2017
Table 18 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2012-2017
Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2012-2016
Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2013-2016
Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2012-2017
Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2017-2022
Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2017-2022

Luxury Cars in Hong Kong, China

HEADLINES

PROSPECTS

Improved consumer confidence benefits luxury cars

Electric cars face legislative roadblock to growth

COMPETITIVE LANDSCAPE

German brands dominate luxury cars

Changes in tax support of electric cars to significantly impact Tesla

CATEGORY DATA

Table 24 Sales of Luxury Cars: Value 2012-2017
Table 25 Sales of Luxury Cars: % Value Growth 2012-2017
Table 26 NBO Company Shares of Luxury Cars: % Value 2012-2016
Table 27 LBN Brand Shares of Luxury Cars: % Value 2013-2016
Table 28 Forecast Sales of Luxury Cars: Value 2017-2022
Table 29 Forecast Sales of Luxury Cars: % Value Growth 2017-2022

Luxury Eyewear in Hong Kong, China

HEADLINES

PROSPECTS

Consumers’ high image consciousness creates opportunities in luxury eyewear

New creative brands will continue to enter eyewear

COMPETITIVE LANDSCAPE

Leading luxury eyewear brands mirror those of luxury leather goods and apparel

Emergence of new brand

Internet retailing grows as an alternative channel for consumers

CATEGORY DATA

Table 30 Sales of Luxury Eyewear by Category: Value 2012-2017
Table 31 Sales of Luxury Eyewear by Category: % Value Growth 2012-2017
Table 32 NBO Company Shares of Luxury Eyewear: % Value 2012-2016
Table 33 LBN Brand Shares of Luxury Eyewear: % Value 2013-2016
Table 34 Distribution of Luxury Eyewear by Format: % Value 2012-2017
Table 35 Forecast Sales of Luxury Eyewear by Category: Value 2017-2022
Table 36 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2017-2022

Luxury Hotels (5-Star Plus) in Hong Kong, China

HEADLINES

PROSPECTS

Improvement in tourist arrivals into Hong Kong benefits luxury hotels

Investments in tourism projects to support luxury hotels’ performance

Consumers’ willingness to indulge in the experience will continue

COMPETITIVE LANDSCAPE

Domestic and international chains compete fiercely in luxury hotels

Future openings planned

CATEGORY DATA

Table 37 Sales in Luxury Hotels (5-star plus): Value 2012-2017
Table 38 Sales in Luxury Hotels (5-star plus): % Value Growth 2012-2017
Table 39 Sales in Luxury Hotels (5-star plus) by Country of Origin: % Value 2013-2017
Table 40 NBO Company Shares of Luxury Hotels (5-star plus): % Value 2012-2016
Table 41 LBN Brand Shares of Luxury Hotels (5-star plus): % Value 2013-2016
Table 42 Forecast Sales in Luxury Hotels (5-star plus): Value 2017-2022
Table 43 Forecast Sales in Luxury Hotels (5-star plus): % Value Growth 2017-2022

Luxury Jewellery in Hong Kong, China

HEADLINES

PROSPECTS

Mainland Chinese tourists to remain key purchasers of luxury jewellery

Millennials to be targeted

Expected shift towards offering luxury jewellery at an accessible price point

COMPETITIVE LANDSCAPE

Intense competition hastens the urgency for brands to better engage consumers

Simplicity and heritage are key factors

CATEGORY DATA

Table 44 Sales of Luxury Jewellery by Category: Value 2012-2017
Table 45 Sales of Luxury Jewellery by Category: % Value Growth 2012-2017
Table 46 NBO Company Shares of Luxury Jewellery: % Value 2012-2016
Table 47 LBN Brand Shares of Luxury Jewellery: % Value 2013-2016
Table 48 Distribution of Luxury Jewellery by Format: % Value 2012-2017
Table 49 Forecast Sales of Luxury Jewellery by Category: Value 2017-2022
Table 50 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2017-2022

Luxury Leather Goods in Hong Kong, China

HEADLINES

PROSPECTS

Consumers continue to shift to other destinations for luxury leather goods

Preference for luxury goods increasingly sophisticated

Strong outbound travel stimulates luxury travel goods’ performance

COMPETITIVE LANDSCAPE

Growing competition in luxury goods to bring about consolidation

Players to focus on consumer engagement

Internet retailing to gain value share in luxury leather goods

CATEGORY DATA

Table 51 Sales of Luxury Leather Goods: Value 2012-2017
Table 52 Sales of Luxury Leather Goods: % Value Growth 2012-2017
Table 53 NBO Company Shares of Luxury Leather Goods: % Value 2012-2016
Table 54 LBN Brand Shares of Luxury Leather Goods: % Value 2013-2016
Table 55 Distribution of Luxury Leather Goods by Format: % Value 2012-2017
Table 56 Forecast Sales of Luxury Leather Goods: Value 2017-2022
Table 57 Forecast Sales of Luxury Leather Goods: % Value Growth 2017-2022

Luxury Portable Consumer Electronics in Hong Kong, China

HEADLINES

PROSPECTS

Consumers continue to disregard luxury portable consumer electronics

Novelty of luxury wearables mitigates its overall decline

COMPETITIVE LANDSCAPE

Vertu retains leadership but to face stronger challenges

CATEGORY DATA

Table 58 Sales of Luxury Portable Consumer Electronics by Category: Value 2012-2017
Table 59 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2012-2017
Table 60 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2012-2016
Table 61 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2013-2016
Table 62 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2012-2017
Table 63 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2017-2022
Table 64 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2017-2022

Luxury Timepieces in Hong Kong, China

HEADLINES

PROSPECTS

Shifting consumer demands impact luxury timepieces

Competition from smartwatches remains to be seen

Men’s luxury timepieces to lead growth

COMPETITIVE LANDSCAPE

Brand heritage steers consumers’ decisions

Customer service to be the key differentiating factor

CATEGORY DATA

Table 65 Sales of Luxury Timepieces by Category: Value 2012-2017
Table 66 Sales of Luxury Timepieces by Category: % Value Growth 2012-2017
Table 67 NBO Company Shares of Luxury Timepieces: % Value 2012-2016
Table 68 LBN Brand Shares of Luxury Timepieces: % Value 2013-2016
Table 69 Distribution of Luxury Timepieces by Format: % Value 2012-2017
Table 70 Forecast Sales of Luxury Timepieces by Category: Value 2017-2022
Table 71 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2017-2022

Luxury Writing Instruments and Stationery in Hong Kong, China

HEADLINES

PROSPECTS

Maturing landscape for luxury writing instruments and stationery

Rise of electronic devices to impact consumer demand

COMPETITIVE LANDSCAPE

Increasing fragmentation of luxury writing instruments and stationery

Increasing need for creativity to attract key audience

CATEGORY DATA

Table 72 Sales of Luxury Writing Instruments and Stationery: Value 2012-2017
Table 73 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2012-2017
Table 74 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2012-2016
Table 75 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2013-2016
Table 76 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2012-2017
Table 77 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2017-2022
Table 78 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2017-2022

Super Premium Beauty and Personal Care in Hong Kong, China

HEADLINES

PROSPECTS

Recovery of Chinese tourist arrivals benefits category

Super premium colour cosmetics records strong growth

COMPETITIVE LANDSCAPE

Western brands lead despite intense competition

Global trends attract local consumers

Internet retailing to gain value share though remaining small channel

CATEGORY DATA

Table 79 Sales of Super Premium Beauty and Personal Care by Category: Value 2012-2017
Table 80 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2012-2017
Table 81 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2012-2016
Table 82 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2013-2016
Table 83 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2012-2017
Table 84 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2017-2022
Table 85 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2017-2022

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Megatrends

Country Report

Luxury Goods in Hong Kong, China

New Report Guarantee

Executive Summary

New Report Guarantee

Recovery in tourist arrivals and economic conditions benefit luxury goods

Luxury goods rebounds to positive growth during 2017

Luxury goods players emphasise consumer engagement

Internet retailing remains a small channel

Luxury goods to grow positively, though challenges remain

Samples

Overview

Why buy this report?

Samples (FAQs about samples):

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Table of Contents

Luxury Goods in Hong Kong, China

EXECUTIVE SUMMARY

Recovery in tourist arrivals and economic conditions benefit luxury goods

Luxury goods rebounds to positive growth during 2017

Luxury goods players emphasise consumer engagement

Internet retailing remains a small channel

Luxury goods to grow positively, though challenges remain

MARKET INDICATOR

MARKET DATA

SOURCES

Designer Apparel and Footwear (Ready-To-Wear) in Hong Kong, China

HEADLINES

PROSPECTS

Limited number of consumers focus on designer apparel and footwear

Consumers enjoy many alternative choices

COMPETITIVE LANDSCAPE

Store network optimisation remains key

Companies seek alternative ways to attract consumers

CATEGORY DATA

Fine Wines/Champagne and Spirits in Hong Kong, China

HEADLINES

PROSPECTS

Improved economic conditions and Chinese tourist arrivals to benefit category

Differences in consumption patterns steer the development of fine wines

Luxury spirits continues to lag behind in popularity

COMPETITIVE LANDSCAPE

Emergence of small brands intensify competition

Distribution channels remain stable

Internet retailing still limited

CATEGORY DATA

Luxury Cars in Hong Kong, China

HEADLINES

PROSPECTS

Improved consumer confidence benefits luxury cars

Electric cars face legislative roadblock to growth

COMPETITIVE LANDSCAPE

German brands dominate luxury cars

Changes in tax support of electric cars to significantly impact Tesla

CATEGORY DATA

Luxury Eyewear in Hong Kong, China

HEADLINES

PROSPECTS

Consumers’ high image consciousness creates opportunities in luxury eyewear

New creative brands will continue to enter eyewear

COMPETITIVE LANDSCAPE

Leading luxury eyewear brands mirror those of luxury leather goods and apparel

Emergence of new brand

Internet retailing grows as an alternative channel for consumers

CATEGORY DATA

Luxury Hotels (5-Star Plus) in Hong Kong, China

HEADLINES

PROSPECTS

Improvement in tourist arrivals into Hong Kong benefits luxury hotels

Investments in tourism projects to support luxury hotels’ performance

Consumers’ willingness to indulge in the experience will continue

COMPETITIVE LANDSCAPE

Domestic and international chains compete fiercely in luxury hotels

Future openings planned

CATEGORY DATA

Luxury Jewellery in Hong Kong, China

HEADLINES

PROSPECTS

Mainland Chinese tourists to remain key purchasers of luxury jewellery