Consumer Pulse

What's up with consumers in Hong Kong?

Shifts & Changes

Rising financial pressure

With rising home prices for the 20th straight month ¹, Hong Kong consumers are increasingly concerned about financial security.

Improved retail consumption sentiment

Despite rising financial pressure, retail sales see its highest growth in nearly 3 years as Hongkongers grow more comfortable spending on retail goods in the future ⁴.

Buoyant e-commerce scene

Mobile internet usage is on the rise, which currently represents 80% of the total population ⁷. More Hong Kong consumers are shopping online - especially among millennials.

Trend Spotlight

Reclaiming headspace with technology

As Hong Kong consumers cope with stress induced by an accelerated pace of life and rising financial pressure, they are looking to technology for greater convenience in order to reclaim headspace.

Based on observations from in-market ethnographers, the following new products/services seem to help address the above consume trend.

ANYWAY

ANYWAY is a P2P delivery service that facilitates real-time matching and tracking of couriers and sellers, creating an efficient platform to help sellers (or those in need of sending packages) to deliver the goods anytime anywhere within 2 hours at the fastest.

Kawa

Kawa is a mobile phone app that allows consumers to discover and enjoy independent & specialty coffee shops in Hong Kong with convenience and at a cheaper price. Consumers can browse and locate a coffee place they like, and then go through their menu to order a coffee. When consumers arrive at the physical outlet, their coffee will already be waiting for them.