Influx of mainland shoppers
Due to the Individual Travelling Scheme launched by the PRC Government, more and more mainland tourists now visit Hong Kong. They have strong purchasing power and contributed a lot to the apparel market. As such, the apparel market saw positive growth in volume and current value terms in 2011. Value growth increased faster than volume due to the increase in unit prices. The influx of mainland shoppers and the rising per-capita income of Hong Kong people led to the unit price rises.
Ageing population extended elderly apparel markets
With the increasing ageing population in Hong Kong, manufacturers are increasingly introducing their variant for the ageing population, focusing more on functional instead of fashionable. For example, adidas has a new apparel line which is for those aged 50-years-old, or above. It can be expected that other product categories will be affected.
Inflation increased production and operating costs
Majority of apparel production is now in Mainland China, and 2011 saw high inflation, pushing up the production of apparel products. In addition, Hong Kong retailers faced with high increase in rental cost in 2011. With this, many small shops can no longer afford the high rental costs in shopping centres and are forced to wind-up their businesses. As such, now in many shopping centres, most of the shops are chain stores and international brands.
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Report Details:
Published: July 2012
Price: US$1900
Consumer demand dictates more sportswear and organic clothing
People in Hong Kong are now adopting healthier lifestyles, with more vegetarians and marathon runners in Hong Kong. As such, consumers are demanding more sportswear, with the increasing number of people picking up sports. In addition, production of fabrics using environmentally-friendly methods is increasingly used and marketed to consumers. The use of organic materials is also increasingly popular.
Demand for more plus-size childrenswear due to child obesity problems
Child obesity is becoming more serious in Hong Kong. As such, there is increasing demand for plus-size childrenswear. The situation is so bad that some children even need to wear adult clothing to fit their size. In addition, with the lower birth rate, parents are more willing to spend on their children. Many brands have started to introduce childrenswear to their product portfolios. Some examples are, Uniqlo, H&M, Zara and adidas; each of which has a children’s department in their retail stores.
Competition intensifies as more brands enter Hong Kong
With advancements in technology, internet selling is playing a more important role in Hong Kong apparel’s market. To survive amid stiff competition, more distribution channels are being utilised to reach a wider audience. In 2011, internet selling is increasingly common and growing in popularity as consumers become more familiar with this way of shopping. Furthermore, to boost sales, many brands joined “group buying” websites. In addition, as demand for apparel increases, more retail outlets and brands, such as Gap and Forever21, enter Hong Kong to cater to the demand
Due to the Individual Travelling Scheme launched by the PRC Government, more and more mainland tourists now visit Hong Kong. They have strong purchasing power and contributed a lot to the apparel market. As such, the apparel market saw positive growth in volume and current value terms in 2011. Value growth increased faster than volume due to the increase in unit prices. The influx of mainland shoppers and the rising per-capita income of Hong Kong people led to the unit price rises.
Ageing population extended elderly apparel markets
With the increasing ageing population in Hong Kong, manufacturers are increasingly introducing their variant for the ageing population, focusing more on functional instead of fashionable. For example, adidas has a new apparel line which is for those aged 50-years-old, or above. It can be expected that other product categories will be affected.
Inflation increased production and operating costs
Majority of apparel production is now in Mainland China, and 2011 saw high inflation, pushing up the production of apparel products. In addition, Hong Kong retailers faced with high increase in rental cost in 2011. With this, many small shops can no longer afford the high rental costs in shopping centres and are forced to wind-up their businesses. As such, now in many shopping centres, most of the shops are chain stores and international brands.
Buy your copy of this report @ http://www.reportsnreports.com/reports/184872-apparel-in-hong-kong-china.html
Report Details:
Published: July 2012
Price: US$1900
People in Hong Kong are now adopting healthier lifestyles, with more vegetarians and marathon runners in Hong Kong. As such, consumers are demanding more sportswear, with the increasing number of people picking up sports. In addition, production of fabrics using environmentally-friendly methods is increasingly used and marketed to consumers. The use of organic materials is also increasingly popular.
Demand for more plus-size childrenswear due to child obesity problems
Child obesity is becoming more serious in Hong Kong. As such, there is increasing demand for plus-size childrenswear. The situation is so bad that some children even need to wear adult clothing to fit their size. In addition, with the lower birth rate, parents are more willing to spend on their children. Many brands have started to introduce childrenswear to their product portfolios. Some examples are, Uniqlo, H&M, Zara and adidas; each of which has a children’s department in their retail stores.
Competition intensifies as more brands enter Hong Kong
With advancements in technology, internet selling is playing a more important role in Hong Kong apparel’s market. To survive amid stiff competition, more distribution channels are being utilised to reach a wider audience. In 2011, internet selling is increasingly common and growing in popularity as consumers become more familiar with this way of shopping. Furthermore, to boost sales, many brands joined “group buying” websites. In addition, as demand for apparel increases, more retail outlets and brands, such as Gap and Forever21, enter Hong Kong to cater to the demand
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