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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.
Why buy this report?
Get a detailed picture of the Megatrends market; Pinpoint growth sectors and identify factors driving change; Understand the competitive environment, the market's major players and leading brands; Use five-year forecasts to assess how the market is predicted to develop.TABLE OF CONTENTS
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