New store openings, acquisitions and e-commerce drive will drive Hong Kong retail industry outlook to 2026. Further, strong M&A activity coupled with expansion of distribution channels will benefit the companies operating in the Hong Kong retail markets.
On the other hand, growing consumer awareness, increasing competition, costs involved in deployment of advanced technologies such as Artificial Intelligence and emerging non-traditional resellers will challenge the market growth.
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Retail companies across Hong Kong focus on improving economies of scale, boosting operational efficiency and diversifying revenue through e-commerce channels.
On the global front, the retail market size is estimated to be around $4.8 billion with North America dominating the retail sales, followed by Europe and Asia Pacific. Further, Middle East, Africa and Latin America are expanding rapidly.
Expansion into new markets remains the core strategy of global leading companies with average operations per company spanning across 10 countries. Among products, fast moving consumer goods topped the sales during 2019, followed by hard and leisure goods, apparel and accessories and others.
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Growing Hong Kong e-commerce distribution channels are encouraging the foray of new entrants into the market. Recovering economy coupled with increasing buyer purchasing power, high disposable incomes of middle class families and ease of access are driving the retail industry in Hong Kong.
The Hong Kong Retail Market, Size, Share, Outlook and Growth Opportunities 2020-2026 presents a comprehensive analysis of the country’s Retail market. Key trends and critical insights into Hong Kong Retail markets along with key drivers, restraints and growth opportunities are presented in the report.
Hong Kong household spending, expenditure outlook on essentials and non-essentials is forecast to 2026. Further, Hong Kong spending on food, alcoholic drinks, non-alcoholic drinks, tobacco spending and others are forecast and analyzed in the report.
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On the Hong Kong clothing and footwear expenditure front, the total spending on Hong Kong population on clothing, footwear including repair spending is forecast to 2026.
In addition, key trends, drivers and market outlook of Hong Kong household goods, tourism expenditure are also included in the research.
Hong Kong Retail market is compared against five of its competitive markets in the region to analyze the role of Hong Kong on regional front and benchmark its operations.
Global Retail, Asia Pacific, Europe, Middle East Africa, North America and Latin America Retail market outlook is also presented in the report to provide a global perspective of the industry.
Hong Kong population and economic outlook are also presented in the report to provide insights and forecasts of macroeconomic factors shaping the future of Hong Kong Retail markets.
Further, business and SWOT profiles of three of the leading Retail companies in Hong Kong are detailed in the report along with recent developments and their impact on overall market growth.
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