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2025 Developments
Retail in Hong Kong, China witnessed a measured rebound in value sales during 2025, although a decline of 1% was still visible. The landscape remained challenging for retailers due to structural factors, notably high operational costs, competition from retail e-commerce, and high levels shopping on the mainland. A rebound in consumer sentiment during quarter three provided an impetus to value growth, alongside a rebound in tourist arrivals from mainland China. Growth was led by retail e-commerce and innovative experiential concepts, as established players consolidated their positions and focused on loyalty, fulfilment and omnichannel strategies to maintain competitiveness.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail 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:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail 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 Retail in Hong Kong, China report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- 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 Retail in Hong Kong, China?
- Which are the leading retailers in Retail in Hong Kong, China?
- How are products distributed in Retail in Hong Kong, China?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Hong Kong, China?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Hong Kong, China
2025 Developments
Key Data Insights
Chart 1 Key Industry Trends for Retail
Notable Recovery in Retail Market but Structural Challenges Persist
Hktvmall Captures Demand as Grocery and Household Shopping Moves Online
Retailers Leverage Technology to Embrace Ominchannel Strategies
Chart 2 Value Sales 2020-2030
Chart 3 Value Sales by Category 2025
Omnichannel Strategies Drive E-Commerce as Retailers Adapt to Changing Shopper Behaviour
Retailers Invest in Digital Capabilities and Experiential Formats to Combat Margin Pressures
Chart 4 Forecast Value Sales 2020-2030
Chart 5 Forecast Value Sales by Category 2025-2030
Chart 6 Analyst Insight for Retail
Dfi Retail Group and as Watson Group Retain Leadership Position
Bape Unveils an "All-White" Concept Store and Coffee Shop with 1881 Heritage
Starbucks Opens Chinese-Inspired Store at the Hong Kong Palace Museum
Chart 7 Company Shares 2025
Chart 8 Brand Shares 2025
Informal Retail
Opening Hours for Physical Retail
Chart 9 Standard Opening Hours by Channel Type 2025
Seasonality
China National Day (also known as Golden Week)
Chinese New Year (Spring Festival)
Christmas and New Year
Chart 10 Economic Context for Retail
Chart 11 Real Gdp Growth 2020-2030
Chart 12 Inflation 2020-2030
Chart 13 Consumer Context for Retail
Chart 14 Population 2020-2030
Chart 15 Population by Generation 2025
Convenience Retailers in Hong Kong, China
Key Data Insights
Convenience Retailers Summary
Chart 16 Key Industry Trends for Convenience Retailers
Circle K’S Digital-First Strategy Aims to Build Loyalty and Value in a Challenging Retail Landscape
Chart 17 Circle K embraces a data-driven approach to redefine convenience
Forecourt Retailers Achieve Fastest Growth as Convenience Stores Dominate Value
Ai-Powered Unmanned Stores Expedite Shopping at the Airport
Chart 18 HK Airport's first Unmanned AI Store: Travelwell
Chart 19 Value Sales 2020-2030
Chart 20 Value Sales by Category 2025
Convenience Retailers Can Differentiate through Enhanced Products and Services
Chains Consolidate Share as Convenience Stores Retain Leadership in Sales
Ai-Powered Personalisation and Value-Driven Formats Reshape Consumer Loyalty
Chart 21 Forecast Value Sales 2020-2030
Chart 22 Forecast Value Sales by Category 2025-2030
7-Eleven Extends Lead as Vango Departure Drives Further Consolidation
Chart 23 Company Shares 2025
Chart 24 Brand Shares 2025
Chart 25 Economic Context for Convenience Retailers
Chart 26 Real Gdp Growth 2020-2030
Chart 27 Inflation 2020-2030
Chart 28 Consumer Context for Convenience Retailers
Chart 29 Population 2020-2030
Chart 30 Population by Generation 2025
Supermarkets in Hong Kong, China
Key Data Insights
Supermarkets Summary
Chart 31 Key Industry Trends for Supermarkets
Hktvmall Challenges In-Store Sales as E-Commerce Expands
Chart 32 HKTVmall as a supermarket alternative
Wellcome and Parknshop Adapt to Competitive Pressures with Omnichannel Strategies
Hktvmall’S Digital-First Strategy Reshapes Consumer Expectations
Chart 33 HK supermarkets expanding product ranges to include more functional food offerings
Chart 34 Value Sales 2020-2030
Supermarket Channel to Confront the Ongoing Demands of Price-Sensitive Shoppers
Parknshop Invests in Automation as Shoppers Demand Value and Fresh Choices
Chart 35 Forecast Value Sales 2020-2030
Chart 36 Analyst Insight for Supermarkets
As Watson Group Wellcome Maintains Lead as Dfi Retail Group Closes Gap on the Competition
Chart 37 Company Shares 2025
Chart 38 Brand Shares 2025
Chart 39 Economic Context for Supermarkets
Chart 40 Real Gdp Growth 2020-2030
Chart 41 Inflation 2020-2030
Chart 42 Consumer Context for Supermarkets
Chart 43 Population 2020-2030
Chart 44 Population by Generation 2025
Small Local Grocers in Hong Kong, China
Key Data Insights
Small Local Grocers Summary
Small Local Grocers Lose Ground to Supermarkets and E-Commerce
Chart 45 Value Sales 2020-2030
Digitalisation Accelerates Outlet Consolidation as Small Grocers Pivot to Niches
Wet Market Stalls Embrace Delivery Apps to Retain Digital-First Shoppers
Chart 46 Forecast Value Sales 2020-2030
Best Mart 360 Consolidates Lead as Smaller Rivals Decline
Chart 47 Company Shares 2025
Chart 48 Brand Shares 2025
Chart 49 Economic Context for Small Local Grocers
Chart 50 Real Gdp Growth 2020-2030
Chart 51 Inflation 2020-2030
Chart 52 Consumer Context for Small Local Grocers
Chart 53 Population 2020-2030
Chart 54 Population by Generation 2025
General Merchandise Stores in Hong Kong, China
Key Data Insights
General Merchandise Stores Summary
Chart 55 Key Industry Trends for General Merchandise Stores
Muted Growth Impacted by Structural Pressures and Weak Retail Environment
Chart 56 Hong Kong's Kai Tak Mall aims to capitalise on nearby sports stadium to boost sales
Department Stores Consolidate Share but Face Muted Demand
Omnichannel Strategies Drive Higher Conversion for Lifestyle Retailers
Chart 57 Hong Kong's general merchandise stores focus on omnichannel strategies
Chart 58 Value Sales 2020-2030
Chart 59 Value Sales by Category 2025
Modest Outlook Reflects the Resilience of General Merchandise Stores
Retailers Pivot to Lifestyle Experiences and Ai-Driven Promotions
Chart 60 Forecast Value Sales 2020-2030
Chart 61 Forecast Value Sales by Category 2025-2030
Chart 62 Analyst Insight for General Merchandise Stores
Sogo Expands with New Store as Rivals Stabilise Shares
Chart 63 Company Shares 2025
Chart 64 Brand Shares 2025
Chart 65 Economic Context for General Merchandise Stores
Chart 66 Real Gdp Growth 2020-2030
Chart 67 Inflation 2020-2030
Chart 68 Consumer Context for General Merchandise Stores
Chart 69 Population 2020-2030
Chart 70 Population by Generation 2025
Apparel and Footwear Specialists in Hong Kong, China
Key Data Insights
Apparel and Footwear Specialists Summary
Chart 71 Key Industry Trends for Apparel and Footwear Specialists
Luxury and Streetwear Brands Support Spending as Mass Fashion Stalls
Chart 72 Hong Kong apparel and footwear sees polarisation between premium and mass retailers
Online Retail Channels Divert Spending From Physical Specialists
Chart 73 Value Sales 2020-2030
Activewear and Local Brands Shape Future Spending Patterns
Omnichannel Investment and Experiential Retail Redefine Store Roles
Chart 74 Forecast Value Sales 2020-2030
Chart 75 Analyst Insight for Apparel and Footwear Specialists
Uniqlo Strengthens Sales Lead as Affordable Fashion Drives Growth
Chart 76 Company Shares 2025
Chart 77 Brand Shares 2025
Chart 78 Economic Context for Apparel and Footwear Specialists
Chart 79 Real Gdp Growth 2020-2030
Chart 80 Inflation 2020-2030
Chart 81 Consumer Context for Apparel and Footwear Specialists
Chart 82 Population 2020-2030
Chart 83 Population by Generation 2025
Appliances and Electronics Specialists in Hong Kong, China
Key Data Insights
Appliances and Electronics Specialists Summary
Chart 84 Key Industry Trends for Appliances and Electronics Specialists
Apple, Midea, and Towngas Drive a Sharp Turnaround in Durables Spending
Chart 85 Strong surge in electronics and appliances in Q3 2025
Jd Mall Bridges Offline and Online Channels to Unlock New Consumer Engagement
Chart 86 JD Mall to open a new space in Hong Kong
Chart 87 Value Sales 2020-2030
Smart Home Integration and Gaming Zones Drive Experiential Upgrades
Chart 88 Forecast Value Sales 2020-2030
As Watson Group Sustains Its Lead as Competitors Stabilise
Chart 89 Company Shares 2025
Chart 90 Brand Shares 2025
Chart 91 Economic Context for Appliances and Electronics Specialists
Chart 92 Real Gdp Growth 2020-2030
Chart 93 Inflation 2020-2030
Chart 94 Consumer Context for Appliances and Electronics Specialists
Chart 95 Population 2020-2030
Chart 96 Population by Generation 2025
Home Products Specialists in Hong Kong, China
Key Data Insights
Home Products Specialists Summary
Chart 97 Key Industry Trends for Home Products Specialists
Premium Pet Brands Harness Events and Omni-Channel Innovation to Drive Growth
Sustainable Design and Smart-Home Features Lift Average Selling Prices
Chart 98 Local player At Home prioritises sustainability
Social Commerce Accelerates Channel Shift and Drives Premiumisation
Chart 99 Hong Kong Pet Show illustrates the importance of experiential retail
Chart 100 Value Sales 2020-2030
Chart 101 Value Sales by Category 2025
Retailers Expand Smart and Sustainable Ranges to Drive Value
Pet Retailers Use Experiential Services and Data to Boost Loyalty
Sustainability and Experiential Retailing to Create Resilience Amid Price Sensitivity
Chart 102 Forecast Value Sales 2020-2030
Chart 103 Forecast Value Sales by Category 2025-2030
Ikea Sustains Leadership in a Fragmented Landscape
Chart 104 Company Shares 2025
Chart 105 Brand Shares 2025
Chart 106 Economic Context for Home Products Specialists
Chart 107 Real Gdp Growth 2020-2030
Chart 108 Inflation 2020-2030
Chart 109 Consumer Context for Home Products Specialists
Chart 110 Population 2020-2030
Chart 111 Population by Generation 2025
Health and Beauty Specialists in Hong Kong, China
Key Data Insights
Health and Beauty Specialists Summary
Chart 112 Key Industry Trends for Health and Beauty Specialists
Health and Beauty Specialists Show Resilience with Steady Value Growth
Mannings Drives Loyalty and Visitor Spend through Improved Services
Chart 113 Mannings launches AI-powered health pod at flagship store
Omni-Channel Innovation and Tourism Fuel Dynamic Growth for Beauty Specialists
Chart 114 Sa Sa: Tourism driven specialty beauty and brand curation
Chart 115 Value Sales 2020-2030
Chart 116 Value Sales by Category 2025
Premium Brands and Service-Driven Retailers Capture Spending Shifts
Clean Beauty and Sustainability Reshape Consumer Loyalty and Offerings
Technology Integration and Diagnostics Drive Value Growth
Chart 117 Forecast Value Sales 2020-2030
Chart 118 Forecast Value Sales by Category 2025-2030
Chart 119 Analyst Insight for Health and Beauty Specialists
Sa Sa Expands International Range to Accelerate Share Growth
Chart 120 Company Shares 2025
Chart 121 Brand Shares 2025
Chart 122 Economic Context for Health and Beauty Specialists
Chart 123 Real Gdp Growth 2020-2030
Chart 124 Inflation 2020-2030
Chart 125 Consumer Context for Health and Beauty Specialists
Chart 126 Population 2020-2030
Chart 127 Population by Generation 2025
Vending in Hong Kong, China
Key Data Insights
Vending Summary
Vending Channel Growth Driven by Cashless Convenience
Government Expands Recycling Machines to Boost Waste Reduction Efforts
Chart 128 Value Sales 2020-2030
Chart 129 Value Sales by Category 2025
Operators Deploy Smart Machines to Boost Sales and Efficiency
Government Embeds Recycling Rewards to Drive Vending Innovation
Speciality Food and Electronics Vending Outpace Traditional Formats
Chart 130 Forecast Value Sales 2020-2030
Chart 131 Forecast Value Sales by Category 2025-2030
Swire Pacific Leverages Tourism Surge to Reclaim Share Lead
Chart 132 Company Shares 2025
Chart 133 Brand Shares 2025
Chart 134 Economic Context for Vending
Chart 135 Real Gdp Growth 2020-2030
Chart 136 Inflation 2020-2030
Chart 137 Consumer Context for Vending
Chart 138 Population 2020-2030
Chart 139 Population by Generation 2025
Direct Selling in Hong Kong, China
Key Data Insights
Direct Selling Summary
Chart 140 Key Industry Trends for Direct Selling
Health and Beauty Direct Selling Supports Sales Performance
Livestream Shopping Reshapes Personal Selling and Customer Trust
Chart 141 Amway Hong Kong's hybrid model drives engagement
Chart 142 Value Sales 2020-2030
Chart 143 Value Sales by Category 2025
Established Players Leverage Compliance and Specialisation to Expand Health and Beauty Sales
Social Commerce Accelerates Digital Transformation as Compliance Reshapes Business Models
Chart 144 Forecast Value Sales 2020-2030
Chart 145 Forecast Value Sales by Category 2025-2030
Chart 146 Competitive Landscape for Direct Selling
Amway and Usana Capitalise on Health Demand to Sustain Gains
Chart 147 Company Shares 2025
Chart 148 Brand Shares 2025
Chart 149 Economic Context for Direct Selling
Chart 150 Real Gdp Growth 2020-2030
Chart 151 Inflation 2020-2030
Chart 152 Consumer Context for Direct Selling
Chart 153 Population 2020-2030
Chart 154 Population by Generation 2025
Retail E-Commerce in Hong Kong, China
Key Data Insights
Retail E-Commerce Summary
Chart 155 Key Industry Trends for Retail E-Commerce
Local and Cross-Border Sales Drive Online Growth
Marketplace E-Commerce Cements Leadership as Hktvmall Expands Product Range
Chart 156 HKTVmall gains ground with its everyday goods Marketplace
Cross-Border Platforms and Sme Education Reshape Digital Commerce
Chart 157 HKTDC+Legislative Council launches the "E-Commerce" Express to educate SMEs
Chart 158 Value Sales 2020-2030
Ai-Driven Personalisation and Logistics Partnerships Unlock New Growth Opportunities
Marketplace E-Commerce Maintains Dominance as Other E-Commerce Retailers Accelerate
Sustainability Strategies and Green Logistics Reshape Consumer Expectations and Operations
Chart 159 Forecast Value Sales 2020-2030
Chart 160 Forecast Value Sales by Category 2025-2030
Chart 161 Analyst Insight for Retail E-Commerce
Tmall Marketplace Capitalises on Cross-Border Demand to Grow Share
Local Logistics and Regional Focus Drive New Growth Strategies
Chart 162 Company Shares 2025
Chart 163 Brand Shares 2025
Chart 164 Economic Context for Retail E-Commerce
Chart 165 Real Gdp Growth 2020-2030
Chart 166 Inflation 2020-2030
Chart 167 Consumer Context for Retail E-Commerce
Chart 168 Population 2020-2030
Chart 169 Population by Generation 2025
Country Reports Disclaimer
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, wholesale sales (e.g. Cash and Carry), and sales through cannabis dispensaries in markets where cannabis is sold legally. Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitions
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