Hong Kong, China: Consumer Profile

November 2024

Expanding population, ageing, migration, and generational shifts are shaping Hong Kong’s demographic landscape. Economic turbulences are influencing consumers consumption patterns, but the majority of consumers believe they will be better off financially in the future. The number of seniors is projected to witness a substantial increase by 2040, while life expectancy will grow and birth rates drop. Gen X is set to become the largest cohort, heavily influencing purchasing habits in the future.

EUR 1,375
Request More Information

Delivery: 

Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).

This report comes in PPT.

Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.

The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Hong Kong, China report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Hong Kong, China report answers:

  • How consumers in Hong Kong, China are changing? 
  • What are key changes in Hong Kong, China population, society and generational structure and how it is affecting businesses?
  • What is the household structure in Hong Kong, China and how it is changing consumer landscape?
  • What are key income groups in Hong Kong, China? What is the outlook for the future?
  • Where consumers are  spending the money in Hong Kong, China? 
  • How is the consumer mindset in Hong Kong, China changing?
  • In Hong Kong, China, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Hong Kong, China?
Download Table of Contents
Scope
Key findings
Key drivers affecting consumers in Hong Kong in 2023
How developments today shape the consumers of tomorrow
Today 2023: Baby Boomers still heavily influence market trends due to large size
Hong Kong a popular migrant destination thanks to perceived economic opportunities
Consumers in Hong Kong ensuring health and longevity through exercise and supplements
Tomorrow 2040: Older cohorts expanding rapidly owing to a drop in birth rates
Millennials to emerge as the leading generational cohort in the future
Opportunities for growth
Case study: NOOCI aims to modernise traditional Chinese medicine among Hongkongers
Today 2023: Families are getting older, with fewer women and more elderly members
Apartment dwellings remain dominant owing to limited space and high population density
Convenience of apartment living aligns with fast-paced lifestyles in Hong Kong
Tomorrow 2040: Single person homes to become the dominant household type
Traditional gender roles will continue to shape household dynamics
Near universal connectivity will drive smart home technology and digitisation
Opportunities for growth
Case study: SmarTone Solutions offers the latest in smart home tech for apartment dwellers
Today 2023: Income inequality is among the highest in Asia Pacific
High level of concern among consumers because of the rising cost of everyday goods
Gen X consumers most willing to spend money on their physical and mental wellbeing
Tomorrow 2040: Gross income per capita in Hong Kong is the highest in Asia Pacific
Affluent consumers benefit from accumulated wealth and multiple sources of income
Opportunities for growth
Case study: Yindii offering high-quality food, at discounted price while reducing food waste
Key findings of consumer survey
One in four Gen Z consumers is willing to pay a premium for food and beverages
Despite the highest incomes in the region, consumers in Hong Kong are enticed by bargains
Millennials leading the fight for engagement in green activities and eco-consciousness
Hong Kong consumers maintain healthy spending habits and financial security
Millennials are highly motivated by high salaries, to support their diverse spending habits
Opportunities for growth
Case study: The Sustainabl . company supports Hong Kong’s single plastics ban
Key takeaways
Share:

Buy Consumer Profiles  reports to:

Gain a thorough knowledge of shifting consumer landscape and attitudes s and fill in information gaps to inform product/service development, market positioning and channel strategy.

NEW REPORT GUARANTEE

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!

© 2024 Euromonitor is privately owned & trademarked. VAT No. GB: 239-2559-40 Registered in England No. 1040587
;