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Country Report

Personal Accessories in

Personal Accessories in Hong Kong, China

Aug 2020

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Executive Summary

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COVID-19 impact on personal accessories

Overall, the personal accessories market in Hong Kong has continued to decline in 2020, due to the combination of ongoing non-extradition bill protests, compounded by the impact of the COVID-19 outbreak. Luggage, jewellery and watches have been hardest hit due to the significant decline in travel, tourist arrivals – particularly visitors from mainland China – and low confidence in spending on luxury items due to the extended period of economic uncertainty.

COVID-19 country impact

While Hong Kong initially reacted well to COVID-19, and was one of the first places to relax lockdown restrictions to allow restaurant dining and hospitality to resume, new restrictions were implemented at the end of July in response to a rising tide of new cases. At the time of writing, Hong Kong is seeing more than 100 new cases each day, raising concerns of an overwhelming new surge.

Company response

Companies active in the personal accessories market have reacted to the impact of COVID-19 with outlet closures and redundancies. LVMH’s Fendi brand made 30% of staff at its Asia-Pacific headquarters in Hong Kong redundant, while Hugo Boss and Valentino closed flagship stores at Hong Kong Airport and Canton Road.

Retailing shift

The online channel, while traditionally marginal in Hong Kong due to the city’s small geographic size and the popularity of shopping in bricks and mortar outlets, particularly for products such as personal accessories, is demonstrating signs of gaining importance. This is a direct result of COVID-19 and the ongoing turbulent political environment in the city.

What next for personal accessories?

Recovery of Hong Kong’s personal accessories market is expected to be slow. It may take five to eight years for demand to recover to 2018 levels.

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Personal Goods Market 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 Personal Accessories 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 Personal Accessories industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

When you purchase this report, you also get the data and the content from these category reports in Hong Kong, China for free:

The Personal Accessories 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:

How are sales of luggage, backpacks and sports bags impacted by tourism flows?
Are sales of real jewellery catching up on costume jewellery in Hong Kong, China?
Is mechanical, quartz digital or quartz analogue driving sales of watches in Hong Kong, China?

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 functions

This industry report originates from Passport, our personal goods market research database.

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Personal Accessories in Hong Kong, China

EXECUTIVE SUMMARY

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

MARKET DATA

Table 1 Sales of Personal Accessories by Category: Volume 2015-2020
Table 2 Sales of Personal Accessories by Category: Value 2015-2020
Table 3 Sales of Personal Accessories by Category: % Volume Growth 2015-2020
Table 4 Sales of Personal Accessories by Category: % Value Growth 2015-2020
Table 5 NBO Company Shares of Personal Accessories: % Value 2015-2019
Table 6 LBN Brand Shares of Personal Accessories: % Value 2016-2019
Table 7 Distribution of Personal Accessories by Format: % Value 2015-2020
Table 8 Forecast Sales of Personal Accessories by Category: Volume 2020-2025
Table 9 Forecast Sales of Personal Accessories by Category: Value 2020-2025
Table 10 Forecast Sales of Personal Accessories by Category: % Volume Growth 2020-2025
Table 11 Forecast Sales of Personal Accessories by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DEFINITIONS

SOURCES

Summary 1 Research Sources

Bags and Luggage in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Cessation of travel and working from home in light of COVID-19 hit demand

Environmental and economic factors boost demand for second-hand products, new goods offer added-value features

Designer players implement redundancies and close outlets as COVID-19 bites

RECOVERY AND OPPORTUNITIES

Designer brands reduce ranges as impact of COVID-19 expected to continue

Travel and tourism crash hits demand

Second-hand products set to benefit from constrained spending power

CATEGORY DATA

Table 12 Sales of Bags and Luggage by Category: Volume 2015-2020
Table 13 Sales of Bags and Luggage by Category: Value 2015-2020
Table 14 Sales of Bags and Luggage by Category: % Volume Growth 2015-2020
Table 15 Sales of Bags and Luggage by Category: % Value Growth 2015-2020
Table 16 Sales of Luggage by Type: % Value 2015-2020
Table 17 NBO Company Shares of Bags and Luggage: % Value 2015-2019
Table 18 LBN Brand Shares of Bags and Luggage: % Value 2016-2019
Table 19 Distribution of Bags and Luggage by Format: % Value 2015-2020
Table 20 Forecast Sales of Bags and Luggage by Category: Volume 2020-2025
Table 21 Forecast Sales of Bags and Luggage by Category: Value 2020-2025
Table 22 Forecast Sales of Bags and Luggage by Category: % Volume Growth 2020-2025
Table 23 Forecast Sales of Bags and Luggage by Category: % Value Growth 2020-2025

Jewellery in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Loss of mainland Chinese tourists hits demand for gold, reworked jewellery gains popularity

Men’s jewellery gains popularity in Hong Kong

Leading jewellery players suffer as a result of adverse economic conditions

RECOVERY AND OPPORTUNITIES

COVID-19’s resurgence likely to dampen recovery prospects, wearing of masks likely to steer demand trends

Fine jewellery may benefit from investment purchases in uncertain climate

Potential for e-commerce as a result of COVID-19, environmental considerations could remain important

CATEGORY DATA

Table 24 Sales of Jewellery by Category: Volume 2015-2020
Table 25 Sales of Jewellery by Category: Value 2015-2020
Table 26 Sales of Jewellery by Category: % Volume Growth 2015-2020
Table 27 Sales of Jewellery by Category: % Value Growth 2015-2020
Table 28 Sales of Costume Jewellery by Type: % Value 2015-2020
Table 29 Sales of Fine Jewellery by Type: % Value 2015-2020
Table 30 Sales of Fine Jewellery by Collection: % Value 2015-2020
Table 31 Sales of Fine Jewellery by Metal: % Value 2015-2020
Table 32 NBO Company Shares of Jewellery: % Value 2015-2019
Table 33 LBN Brand Shares of Jewellery: % Value 2016-2019
Table 34 Distribution of Jewellery by Format: % Value 2015-2020
Table 35 Forecast Sales of Jewellery by Category: Volume 2020-2025
Table 36 Forecast Sales of Jewellery by Category: Value 2020-2025
Table 37 Forecast Sales of Jewellery by Category: % Volume Growth 2020-2025
Table 38 Forecast Sales of Jewellery by Category: % Value Growth 2020-2025

Watches in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Watches suffer tremendously as a result of COVID-19

Blurring of watches and high-end jewellery and necklaces

Swiss manufacturers are most hit by the crisis, smaller companies unlikely to weather the storm

RECOVERY AND OPPORTUNITIES

Economic factors and increased use of digital products hit demand

Demand for watches to remain subdued as consumers postpone non-essential purchases

E-commerce likely to see further distribution value share gain

CATEGORY DATA

Table 39 Sales of Watches by Category: Volume 2015-2020
Table 40 Sales of Watches by Category: Value 2015-2020
Table 41 Sales of Watches by Category: % Volume Growth 2015-2020
Table 42 Sales of Watches by Category: % Value Growth 2015-2020
Table 43 Sales of Watches by Price Band: Volume 2015-2020
Table 44 Sales of Watches by Price Band: Value 2015-2020
Table 45 Sales of Watches by Price Band: % Volume Growth 2015-2020
Table 46 Sales of Watches by Price Band: % Value Growth 2015-2020
Table 47 NBO Company Shares of Watches: % Value 2015-2019
Table 48 LBN Brand Shares of Watches: % Value 2016-2019
Table 49 Distribution of Watches by Format: % Value 2015-2020
Table 50 Forecast Sales of Watches by Category: Volume 2020-2025
Table 51 Forecast Sales of Watches by Category: Value 2020-2025
Table 52 Forecast Sales of Watches by Category: % Volume Growth 2020-2025
Table 53 Forecast Sales of Watches by Category: % Value Growth 2020-2025
Table 54 Forecast Sales of Watches by Price Band: Volume 2020-2025
Table 55 Forecast Sales of Watches by Price Band: Value 2020-2025
Table 56 Forecast Sales of Watches by Price Band: % Volume Growth 2020-2025
Table 57 Forecast Sales of Watches by Price Band: % Value Growth 2020-2025

Writing Instruments in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Lockdown restrictions and working from home reduce demand for writing instruments

Players seek to counter fountain pens’ declining popularity by offering personalisation

Players implement offers and promotions to attract consumers

RECOVERY AND OPPORTUNITIES

Writing instruments’ key back-to-school season in doubt as COVID-19 sees resurgence

Efforts may be needed to attract consumers as their attention is diverted post-pandemic

Changing purchasing patterns to influence channel shares

CATEGORY DATA

Table 58 Sales of Writing Instruments by Category: Volume 2015-2020
Table 59 Sales of Writing Instruments by Category: Value 2015-2020
Table 60 Sales of Writing Instruments by Category: % Volume Growth 2015-2020
Table 61 Sales of Writing Instruments by Category: % Value Growth 2015-2020
Table 62 NBO Company Shares of Writing Instruments: % Value 2015-2019
Table 63 LBN Brand Shares of Writing Instruments: % Value 2016-2019
Table 64 Distribution of Writing Instruments by Format: % Value 2015-2020
Table 65 Forecast Sales of Writing Instruments by Category: Volume 2020-2025
Table 66 Forecast Sales of Writing Instruments by Category: Value 2020-2025
Table 67 Forecast Sales of Writing Instruments by Category: % Volume Growth 2020-2025
Table 68 Forecast Sales of Writing Instruments by Category: % Value Growth 2020-2025

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Megatrends

Country Report

Personal Accessories in Hong Kong, China

New Report Guarantee

Executive Summary

New Report Guarantee

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

Samples

Overview

Why buy this report?

Samples: FAQs about samples

Want to find out more about this report?

Table of Contents

Personal Accessories in Hong Kong, China

EXECUTIVE SUMMARY

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DEFINITIONS

SOURCES

Bags and Luggage in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Cessation of travel and working from home in light of COVID-19 hit demand

Environmental and economic factors boost demand for second-hand products, new goods offer added-value features

Designer players implement redundancies and close outlets as COVID-19 bites

RECOVERY AND OPPORTUNITIES

Designer brands reduce ranges as impact of COVID-19 expected to continue

Travel and tourism crash hits demand

Second-hand products set to benefit from constrained spending power

CATEGORY DATA

Jewellery in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Loss of mainland Chinese tourists hits demand for gold, reworked jewellery gains popularity

Men’s jewellery gains popularity in Hong Kong

Leading jewellery players suffer as a result of adverse economic conditions

RECOVERY AND OPPORTUNITIES

COVID-19’s resurgence likely to dampen recovery prospects, wearing of masks likely to steer demand trends

Fine jewellery may benefit from investment purchases in uncertain climate

Potential for e-commerce as a result of COVID-19, environmental considerations could remain important

CATEGORY DATA

Watches in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Watches suffer tremendously as a result of COVID-19

Blurring of watches and high-end jewellery and necklaces

Swiss manufacturers are most hit by the crisis, smaller companies unlikely to weather the storm

RECOVERY AND OPPORTUNITIES

Economic factors and increased use of digital products hit demand

Demand for watches to remain subdued as consumers postpone non-essential purchases

E-commerce likely to see further distribution value share gain

CATEGORY DATA

Writing Instruments in Hong Kong, China

KEY DATA FINDINGS

2020 IMPACT

Lockdown restrictions and working from home reduce demand for writing instruments

Players seek to counter fountain pens’ declining popularity by offering personalisation

Players implement offers and promotions to attract consumers

RECOVERY AND OPPORTUNITIES

Writing instruments’ key back-to-school season in doubt as COVID-19 sees resurgence

Efforts may be needed to attract consumers as their attention is diverted post-pandemic

Changing purchasing patterns to influence channel shares

CATEGORY DATA

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Want to find out more about this report?

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