Product Code: LUXHK
TABLE OF CONTENTS
List Of Contents And Tables
EXECUTIVE SUMMARY
Luxury goods in 2021: The big picture
2021 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 1 Sales of Luxury Goods by Category: Value 2016-2021
Table 2 Sales of Luxury Goods by Category: % Value Growth 2016-2021
Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2016-2021
Table 4 NBO Company Shares of Luxury Goods: % Value 2016-2020
Table 5 LBN Brand Shares of Luxury Goods: % Value 2017-2020
Table 6 Distribution of Luxury Goods by Format and Category: % Value 2021
Table 7 Forecast Sales of Luxury Goods by Category: Value 2021-2026
Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2021-2026
DISCLAIMER
SOURCES
Summary 1 Research Sources
EXPERIENTIAL LUXURY IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Local demand recovers as players look to tempt travellers with discounts and offers
Threat from premium foodservice players and hotel groups
Hong Kong has to recover from both COVID-19 and social unrest disruptions
PROSPECTS AND OPPORTUNITIES
Inbound tourists will be an important factor in any full recovery
Constraints on luxury hotels' recovery
Luxury foodservice faces challenges despite stronger local consumer base
CATEGORY DATA
Table 9 Sales of Experiential Luxury by Category: Value 2016-2021
Table 10 Sales of Experiential Luxury by Category: % Value Growth 2016-2021
Table 11 NBO Company Shares of Experiential Luxury: % Value 2016-2020
Table 12 LBN Brand Shares of Experiential Luxury: % Value 2017-2020
Table 13 Forecast Sales of Experiential Luxury by Category: Value 2021-2026
Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2021-2026
LUXURY FOODSERVICE IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury foodservice to see a strong rebound in 2021
Armani closures hit luxury foodservice in Hong Kong
Players were using price promotional activity to stimulate demand during the pandemic
PROSPECTS AND OPPORTUNITIES
Strong growth in 2021 but full recovery could take some time
Accelerated digital transformation
Luxury players face wide-ranging competition
CATEGORY DATA
Table 15 Sales in Luxury Foodservice: Value 2016-2021
Table 16 Sales in Luxury Foodservice: % Value Growth 2016-2021
Table 17 NBO Company Shares in Luxury Foodservice: % Value 2016-2020
Table 18 LBN Brand Shares in Luxury Foodservice: % Value 2017-2020
Table 19 Forecast Sales in Luxury Foodservice: Value 2021-2026
Table 20 Forecast Sales in Luxury Foodservice: % Value Growth 2021-2026
LUXURY HOTELS IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury hotels to see only a limited recovery in 2021 with restrictions still in place
Luxury hotels players target local consumers for staycations
Sun Hung Kai Properties leads in an environment seeing strong competition in offering luxurious experiences
PROSPECTS AND OPPORTUNITIES
Stronger recovery expected in 2022
Digital development important for luxury hotel players
Changing business practices pose a significant threat to recovery
CATEGORY DATA
Table 21 Sales in Luxury Hotels: Value 2016-2021
Table 22 Sales in Luxury Hotels: % Value Growth 2016-2021
Table 23 NBO Company Shares in Luxury Hotels: % Value 2016-2020
Table 24 LBN Brand Shares in Luxury Hotels: % Value 2017-2020
Table 25 Forecast Sales in Luxury Hotels: Value 2021-2026
Table 26 Forecast Sales in Luxury Hotels: % Value Growth 2021-2026
FINE WINES/CHAMPAGNE AND SPIRITS IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Local consumption helping to drive a recovery in 2021
Luxury brandy and cognac active in driving brand rejuvenation
Luxury whiskies the most dynamic category in 2021
PROSPECTS AND OPPORTUNITIES
E-commerce share gains to slow down again
Local consumption and lower-priced products to drive recovery
Digital activity has a key role to play
CATEGORY DATA
Table 27 Sales of Fine Wines/Champagne and Spirits by Category: Value 2016-2021
Table 28 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2016-2021
Table 29 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2016-2020
Table 30 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2017-2020
Table 31 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2016-2021
Table 32 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2021-2026
Table 33 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2021-2026
PREMIUM AND LUXURY CARS IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Demand for premium and luxury cars growing again in 2021
Mercedes-Benz continues to lead but Tesla continues to record dynamic growth
Advanced technology and well-established infrastructure drive electric car growth
PROSPECTS AND OPPORTUNITIES
Electric models expected to play important role in recovery
Growing demand for premium and luxury SUVs
Technology convergence becoming the key differentiator
CATEGORY DATA
Table 34 Sales of Premium and Luxury Cars: Value 2016-2021
Table 35 Sales of Premium and Luxury Cars: % Value Growth 2016-2021
Table 36 NBO Company Shares of Premium and Luxury Cars: % Value 2016-2020
Table 37 LBN Brand Shares of Premium and Luxury Cars: % Value 2017-2020
Table 38 Forecast Sales of Premium and Luxury Cars: Value 2021-2026
Table 39 Forecast Sales of Premium and Luxury Cars: % Value Growth 2021-2026
PERSONAL LUXURY IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
2021 recovery held back by lack of visitors from Mainland China
Industry players look to target local consumers
E-commerce remains a challenging environment for luxury brands
PROSPECTS AND OPPORTUNITIES
Expanding duty-free sector in Mainland China a threat to Hong Kong?
Continued emphasis on digital development
Pre-owned luxury expected to continue to grow in popularity
CATEGORY DATA
Table 40 Sales of Personal Luxury by Category: Value 2016-2021
Table 41 Sales of Personal Luxury by Category: % Value Growth 2016-2021
Table 42 NBO Company Shares of Personal Luxury: % Value 2016-2020
Table 43 LBN Brand Shares of Personal Luxury: % Value 2017-2020
Table 44 Distribution of Personal Luxury by Format: % Value 2016-2021
Table 45 Forecast Sales of Personal Luxury by Category: Value 2021-2026
Table 46 Forecast Sales of Personal Luxury by Category: % Value Growth 2021-2026
DESIGNER APPAREL AND FOOTWEAR (READY-TO-WEAR) IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Recovery begins in 2021 in spite of missing tourist spending
Chanel remains the leading brand
Brands competing for local consumers' attention
PROSPECTS AND OPPORTUNITIES
E-commerce retains most of the share gains it made in 2020
Increasing focus on digital development
Eco-consciousness and thrift encourage the development of second-hand luxury fashion platforms
CATEGORY DATA
Table 47 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2016-2021
Table 48 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2016-2021
Table 49 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2020
Table 50 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2017-2020
Table 51 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2016-2021
Table 52 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2021-2026
Table 53 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2021-2026
LUXURY EYEWEAR IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury eyewear returns to positive growth in 2021, with sunglasses driving the overall performance
Ray-Ban turns in a good performance in 2020
Growing demand for less expensive and more functional products in the pandemic
PROSPECTS AND OPPORTUNITIES
Luxury eyewear to return to 2018 sales levels in 2025
E-commerce faces the challenge of consumers' preference for trying on spectacle frames
Crossover with smart technology pushing innovation in sunglasses
CATEGORY DATA
Table 54 Sales of Luxury Eyewear by Category: Value 2016-2021
Table 55 Sales of Luxury Eyewear by Category: % Value Growth 2016-2021
Table 56 NBO Company Shares of Luxury Eyewear: % Value 2016-2020
Table 57 LBN Brand Shares of Luxury Eyewear: % Value 2017-2020
Table 58 Distribution of Luxury Eyewear by Format: % Value 2016-2021
Table 59 Forecast Sales of Luxury Eyewear by Category: Value 2021-2026
Table 60 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2021-2026
LUXURY JEWELLERY IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury jewellery begins to recover in 2021
Richemont continues to lead luxury jewellery, despite losing share in 2020
Targeting local demand trends may mean offering more entry-level products
PROSPECTS AND OPPORTUNITIES
Further growth expected over the forecast period
Digital engagement here to stay
Polarisation of luxury jewellery expected to continue over the forecast period
CATEGORY DATA
Table 61 Sales of Luxury Jewellery by Category: Value 2016-2021
Table 62 Sales of Luxury Jewellery by Category: % Value Growth 2016-2021
Table 63 NBO Company Shares of Luxury Jewellery: % Value 2016-2020
Table 64 LBN Brand Shares of Luxury Jewellery: % Value 2017-2020
Table 65 Distribution of Luxury Jewellery by Format: % Value 2016-2021
Table 66 Forecast Sales of Luxury Jewellery by Category: Value 2021-2026
Table 67 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2021-2026
LUXURY LEATHER GOODS IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury leather goods recovering in 2021 after the dip in demand in the previous years
E-commerce here to stay for luxury leather goods
Renowned traditional brands remain relatively resilient
PROSPECTS AND OPPORTUNITIES
Local consumers driving the initial recovery in luxury leather goods
Collaboration with local celebrities becoming the new normal
Circular fashion emerging more strongly in Hong Kong
CATEGORY DATA
Table 68 Sales of Luxury Leather Goods: Value 2016-2021
Table 69 Sales of Luxury Leather Goods: % Value Growth 2016-2021
Table 70 NBO Company Shares of Luxury Leather Goods: % Value 2016-2020
Table 71 LBN Brand Shares of Luxury Leather Goods: % Value 2017-2020
Table 72 Distribution of Luxury Leather Goods by Format: % Value 2016-2021
Table 73 Forecast Sales of Luxury Leather Goods: Value 2021-2026
Table 74 Forecast Sales of Luxury Leather Goods: % Value Growth 2021-2026
LUXURY PORTABLE CONSUMER ELECTRONICS IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Lack of tourists hurts luxury portable consumer electronics
Luxury mobile phones remains a niche category
LVMH Watch & Jewelry retains lead through TAG Heuer
PROSPECTS AND OPPORTUNITIES
Inbound tourism key to recovery
Uphill battle for luxury portable consumer electronics in the local market
CATEGORY DATA
Table 75 Sales of Luxury Portable Consumer Electronics by Category: Value 2016-2021
Table 76 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2016-2021
Table 77 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2016-2020
Table 78 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2017-2020
Table 79 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2016-2021
Table 80 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2021-2026
Table 81 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2021-2026
LUXURY TIMEPIECES IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Recovery being seen in 2021 following the significant decline in both local and tourist demand
Rolex still the leading brand
Players using local celebrities to boost sales of entry-level products
PROSPECTS AND OPPORTUNITIES
Resumption of inbound travel needed for any full recovery
Digital engagement remains important
Pre-owned market growing
CATEGORY DATA
Table 82 Sales of Luxury Timepieces by Category: Value 2016-2021
Table 83 Sales of Luxury Timepieces by Category: % Value Growth 2016-2021
Table 84 NBO Company Shares of Luxury Timepieces: % Value 2016-2020
Table 85 LBN Brand Shares of Luxury Timepieces: % Value 2017-2020
Table 86 Distribution of Luxury Timepieces by Format: % Value 2016-2021
Table 87 Forecast Sales of Luxury Timepieces by Category: Value 2021-2026
Table 88 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2021-2026
LUXURY WRITING INSTRUMENTS AND STATIONERY IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury writing instruments and stationery returns to positive growth in 2021
COVID-19 exacerbates already challenging situation for luxury writing instruments and stationery
Montblanc brand continues gaining share in 2020
PROSPECTS AND OPPORTUNITIES
Luxury writing instruments and stationery not expected to achieve a full recovery in 2021-2026
Need to strengthen online presence
Increasing emphasis on distinctive design
CATEGORY DATA
Table 89 Sales of Luxury Writing Instruments and Stationery: Value 2016-2021
Table 90 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2016-2021
Table 91 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2016-2020
Table 92 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2017-2020
Table 93 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2016-2021
Table 94 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2021-2026
Table 95 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2021-2026
SUPER PREMIUM BEAUTY AND PERSONAL CARE IN HONG KONG, CHINA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Sales begin to recover in super premium beauty and personal care in 2021
L'Oreal continues gaining share in 2020
Digital engagement as a must
PROSPECTS AND OPPORTUNITIES
Return to growth expected in 2021, but return of inbound tourists needed for full recovery
In-store services to attract consumers back to stores
Demand for personalisation
CATEGORY DATA
Table 96 Sales of Super Premium Beauty and Personal Care by Category: Value 2016-2021
Table 97 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2016-2021
Table 98 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2016-2020
Table 99 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2017-2020
Table 100 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2016-2021
Table 101 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2021-2026
Table 102 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2021-2026
