Megatrends in Hong Kong, China
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.
Euromonitor's Megatrends in Hong Kong, China report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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* Get a detailed picture of the Megatrends market;
* Pinpoint growth sectors and identify factors driving change;
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* Use five-year forecasts to assess how the market is predicted to develop.
- Scope
- The drivers shaping consumer behaviour
- Megatrends framework
- Businesses harness megatrends to renovate, innovate and disrupt
- Digital living
- Lalamove Shopify a pp provides real-time tracking, last-mile delivery services in Hong Kong
- Gaming is the strongest tech interaction by far
- Privacy and managing data are the most important considerations
- Millennials and Generation Z are cautious across all privacy concerns
- Friends and family vie with company information as most trusted source
- Moving back into the real world is a strong priority for consumers
- Experience more
- Quantum Matrix’s My Virtual Closet allows real-time virtual fitting for children
- Consumers looking for experiences IRL (in real life) and in-store
- Online socialising and leisure shopping are the strongest leisure habits
- The majority of holiday-makers want to go somewhere they can relax
- Baby boomers most convinced about the need to shift to in-person activities
- Middle class reset
- Bargain hunting and curated spending at the top of the list
- High levels of sharing and swapping in Hong Kong
- Discount store visits increasingly important for all
- Premiumisation
- IQOS flagship model ILUMA Prime from Philip Morris International
- Curated and simplified lives are the top priorities
- Generation Z significantly less optimistic or engaged with brands
- High quality is worth the most to consumers
- Shifting market frontiers
- International products are more readily available than globally
- Baby boomers focused on shopping in locally-owned stores and millennials on produce
- Shopping reinvented
- Logitech Club’s all-in-one website to strengthen the overall O2O customer experience
- 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
- Zero-waste stores gain traction in Hong Kong as The Hidden Gems opens at The Mills
- 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
- TCM application in pet care gains traction as Petmacy’s Petural is launched in 2021
- Generation Z not as actively engaged with their health and wellness
- Massage and yoga are the top mental wellbeing activities and high compared with global
- Digital health more developed compared with world average
- Intention to spend more on health on wellness ahead of globally
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