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Megatrends in Hong Kong, China

June 2021

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus Megatrends and insights as to how each trend has manifested in Hong Kong, China

USD 1,325
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Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Hong Kong, China report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Hong Kong, China report answers:

  • How is the consumer mindset in Hong Kong, China changing? In Hong Kong, China, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Hong Kong, China purchase decisions?
  • Where and how do consumers shop in Hong Kong, China?
  • What health-related activities do consumers in Hong Kong, China participate in?
  • What megatrends should I focus on in Hong Kong, China (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness Megatrends to renovate, innovate and disrupt
Digital Living
LeaveHomeSafe responds to cautious users
Gaming is the strongest tech interaction by far
Gaming top priority for Gen Z especially
Privacy and managing data are the most important considerations
Millennials and Gen X cautious across all privacy concerns
Friends and family vie with company information as most trusted source
Moving back into the real world is a priority for consumers
Experience More
Cosmos provides flexible and safe experiences for restaurant-goers
Consumers looking for experiences IRL (in real life) and in-store
Gen X and Baby Boomers most eager to engage with the real world
Online socialising and leisure shopping strongest leisure habits
Majority of holiday-makers want to go somewhere they can relax
Gen X most convinced about the need to shift to in-person activities
Middle Class Reset
Yuu : Hong Kong’s biggest rewards club ever from Dairy Farm Group
Bargain hunting and curated spending at the top of the list
Gen Z the least worried about restrained purchasing
High levels of donating used items to non-profit organisations
Discount store visits increasingly important for all
Premiumisation
illuma 4 Growing-up Formula from Wyeth (HK): premiumising baby milk
Curated and simplified lives are the joint top priorities
Wanting to simplify life is more evident among Millennials and Gen X
Gen Z significantly less optimistic or engaged in brands
High quality is worth the most to consumers
Shifting Market Frontiers
Love Hong Kong from Calbee supports localisation
International products are more readily available than globally
Correlation between age and availability of international products
Gen Z in particular more focused on shopping in locally-owned stores
Shopping Reinvented
VPro Vet Clinic targets e-commerce and in-home market
Path to purchase more evenly spread across channels in Hong Kong
A third of respondents interact with companies’ social media posts
Millennials most likely to share a purchase with their social network
Sustainable Living
OmniPork (Green Monday Holdings) leads the way in meatless meat
Charity and concern about climate change vie for top ethical issue
Plastics and food waste the biggest issues for consumers
Voting in elections is the single most important political activity
Recycling and biodegradable packaging are considered most sustainable
Wellness
Philips UV-C disinfection lamp allays health fears around COVID-19
Wellness is not a top priority in Hong Kong compared with globally
Gen Z not as actively engaged with their health and wellness
Massage and yoga are the top mental wellbeing activities
Digital health more developed compared with world average
Intention to spend more on health on wellness ahead of globally
Leverage the power of Megatrends to shape your strategy today
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