Luxury Goods in Hong Kong, China

August 2022
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Overview:

Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Experiential Luxury
  • Luxury Hotels
  • Fine Wines/Champagne
  • Premium and Luxury Cars
  • Personal Luxury
  • Designer Apparel and Footwear
  • Luxury Eyewear
  • Luxury Jewellery
  • Luxury Leather Goods
  • Luxury Portable Consumer Electronics
  • Luxury Timepieces
  • Luxury Writing Instruments and Stationery
  • Super Premium Beauty and Personal Care

If you're in the Luxury Goods industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Luxury Goods in Hong Kong, China report includes:

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

This report answers:

  • What is the market size of Luxury Goods in Hong Kong, China?
  • Which are the leading brands in Luxury Goods in Hong Kong, China?
  • How are products distributed in Luxury Goods in Hong Kong, China?
  • How important is tourism in evaluating demand for Luxury Goods in Hong Kong, China?
  • How is the rise of e-commerce changing the retail and competitive landscape?
  • How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
  • Where is future growth expected to be most dynamic?

Luxury Goods in Hong Kong, China

Luxury goods in 2022: The big picture
2022 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
Table 1 Sales of Luxury Goods by Category: Value 2017-2022
Table 2 Sales of Luxury Goods by Category: % Value Growth 2017-2022
Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2017-2022
Table 4 NBO Company Shares of Luxury Goods: % Value 2017-2021
Table 5 LBN Brand Shares of Luxury Goods: % Value 2018-2021
Table 6 Distribution of Luxury Goods by Format and Category: % Value 2022
Table 7 Forecast Sales of Luxury Goods by Category: Value 2022-2027
Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2022-2027

DISCLAIMER

Summary 1 Research Sources

Experiential Luxury in Hong Kong, China

KEY DATA FINDINGS

Local demand recovers as players offer staycation packages to stimulate sales
Unique premium hotels bring competition to luxury hotels
Luxury hotels participate in the government’s Designated Quarantine Hotel Scheme for survival
The COVID-19 spike in early 2022 contributes to difficulties for luxury foodservice
Luxury hotels expected to recover by 2024, and players need to adapt to the emerging trend of “bleisure” travellers
Luxury hotels must adapt to digital transformation before international travel resumes in Hong Kong
Table 9 Sales of Experiential Luxury by Category: Value 2017-2022
Table 10 Sales of Experiential Luxury by Category: % Value Growth 2017-2022
Table 11 NBO Company Shares of Experiential Luxury: % Value 2017-2021
Table 12 LBN Brand Shares of Experiential Luxury: % Value 2018-2021
Table 13 Forecast Sales of Experiential Luxury by Category: Value 2022-2027
Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2022-2027

Fine Wines/Champagne and Spirits in Hong Kong, China

KEY DATA FINDINGS

Recovery starts in May 2022 as pandemic restrictions are relaxed
More educated local consumers are driving the growth of fine wine and spirits, with luxury whiskies being a dynamic category
Home seclusion benefits at-home consumption
Resurgence for luxury brandy and cognac driven by brand rejuvenation
E-commerce will continue to gain share
The absence of travel retail could remain a disruptor
Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2017-2022
Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2017-2022
Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2017-2021
Table 18 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2018-2021
Table 19 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2017-2022
Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2022-2027
Table 21 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2022-2027

Premium and Luxury Cars in Hong Kong, China

KEY DATA FINDINGS

Premium and luxury cars sees moderate growth in 2022
Mercedes-Benz maintains its lead, but Tesla continues to see dynamic growth
Growth in electric vehicles will be driven by well-established infrastructure and government promotion
Growing demand driving the development of luxury electric SUVs
Table 22 Sales of Premium and Luxury Cars: Value 2017-2022
Table 23 Sales of Premium and Luxury Cars: % Value Growth 2017-2022
Table 24 NBO Company Shares of Premium and Luxury Cars: % Value 2017-2021
Table 25 LBN Brand Shares of Premium and Luxury Cars: % Value 2018-2021
Table 26 Forecast Sales of Premium and Luxury Cars: Value 2022-2027
Table 27 Forecast Sales of Premium and Luxury Cars: % Value Growth 2022-2027

Personal Luxury in Hong Kong, China

KEY DATA FINDINGS

Designer apparel and footwear (ready-to-wear)
Luxury eyewear
Luxury jewellery
Luxury leather goods
Luxury wearables
Luxury timepieces
Luxury writing instruments and stationery
Super premium beauty and personal care
Consumers’ economic status is a disruptor in personal luxury, luxury brands will rely on top spenders more than ever
Luxury jewellery expected to remain resilient
The increased appeal of luxury goods to millennials and gen Z is promising for the future
Table 28 Sales of Personal Luxury by Category: Value 2017-2022
Table 29 Sales of Personal Luxury by Category: % Value Growth 2017-2022
Table 30 NBO Company Shares of Personal Luxury: % Value 2017-2021
Table 31 LBN Brand Shares of Personal Luxury: % Value 2018-2021
Table 32 Distribution of Personal Luxury by Format: % Value 2017-2022
Table 33 Forecast Sales of Personal Luxury by Category: Value 2022-2027
Table 34 Forecast Sales of Personal Luxury by Category: % Value Growth 2022-2027
The following categories and subcategories are included:

Luxury Goods

Luxury Goods

This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.

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This report originates from Passport, our Luxury Goods research and analysis database.

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