In 2024, demand for traditional watches in Hong Kong is significantly declining. This trend is particularly evident in the mid and high price segments of mechanical watches. According to the Swiss Watch Export data, exports to Hong Kong and mainland China decreased by double digits in the first half...
Following a post-pandemic rebound, personal accessories in Hong Kong has faced significant challenges in 2024 due to broader economic uncertainty in the region. Therefore, both retail volume and value sales of personal accessories as a whole are declining. The waning appeal of Hong Kong to internati...
After a significant rebound for luxury handbags in 2023, sales of bags and luggage in Hong Kong are declining in both retail volume and value terms in 2024. A less severe value decline compared to volume is due to a further rise in the average unit price, driven by luxury brands. Historically, inter...
After the significant rebound for the category in 2023, jewellery in Hong Kong is experiencing a declining trajectory in 2024, with a particularly strong drop in retail volume sales. This trend is especially evident in fine jewellery with a double-digit decline, due to the reduction in tourist spend...
Following a rebound the previous year, demand for writing instruments in Hong Kong, especially for luxury pens, which used to be a popular choice for gifting, is declining in 2024. With the Hong Kong dollar pegged to the strong US dollar, luxury goods in the city no longer hold significant price adv...
Insights and data on the traditional automotive sector and the mobility industry can help businesses examine how changing travel patterns will impact future consumer behaviour. Growing climate pressures and rising urbanisation rates are pushing businesses to innovate and drive to the market alternat...
Retail demand for dairy products and alternatives in 2022 is set to further drop, in line with increasing mobility and a switch to foodservice as restrictions are eased. Baby food has experienced a massive decline since 2020, vastly affected by cross-border restrictions and a continuous decline in t...
COVID-19 had a significant negative effect on bricks-and-mortar retailing in Hong Kong in 2020. Foot traffic was greatly reduced, as the pandemic made local consumers much less inclined to gather in groups for shopping. Meanwhile, many retailers have limited the number of consumers that are allowed ...
Vending retail current value sales declined for the first time in a decade during 2020. COVID-19 was the main cause of this, as it led to consumers spending much more time at home. As a result, there was a significant reduction in on-the-go consumption, which is the mainstay of vending. Moreover, ma...
In spite of COVID-19, the retail current value sales of variety stores continued to expand during 2020, albeit at a slightly lower rate than in the previous year. The economic shock of the pandemic was largely offset by the fact that consumers were spending more time at home, which helped to boost d...