Zero
Sales tax
Consumer Products
Hong Kong’s prime location ensures that those involved in consumer products have proximity to both vendors and consumers. Whether you are a retailer, wholesaler or someone involved in sourcing, buying or trading, you are well supported by specialists in channel development and multi-platform marketing. The large market size of Hong Kong and easy access to growing opportunities in Mainland China and across Asia allows great scope for organisations to find success across a variety of industries.
The following areas currently offer an abundance of opportunities in the world of consumer products:
- Retail － As the top retail destination with world class shopping malls, high street locations and a variety of retail formats, Hong Kong is the ideal location to showcase any brands and a key destination for launching or expanding brands in Asia. Retail sales amounted to over HK$337 billion in 2022.
- Cosmetics & Personal Care － Hong Kong’s open regulatory environment for cosmetics has ensured significant market space for both cosmetics and personal care. Sales of cosmetics and personal care items amounted to nearly HK$26 billion in 2022. Sales of skin care has contributed HK$15.7 billion in 2022. Sales channels include stand-alone boutiques, multi-brand retailers, online platforms and beauty salons. Hong Kong has 5,390 establishments of retail sale of pharmaceutical, medical and health goods, cosmetics and personal care in 2022. Cosmetics and personal care items are a favorite purchase category for both local consumers and international and Mainland visitors for its attractive prices with no VAT and no import duties and a wide global selection available in the city.
- Sports Products － With Hong Kong’s upcoming development blueprint for sports and recreation facilities, providing about 30 diversified facilities by phases, such as sports centres, swimming pools, sports grounds and parks, and the planned facilities include Hong Kong's second sports park, there are exponential growth opportunities for sportswear, equipment, wellness services, training and facilities. The sales of sportswear alone amounted to around HK$15.5 billion in 2022. In addition, the “M” Mark System will be enhanced to support the hosting of major international sports events annually with a view to further promotion Hong Kong as a centre for mega international sports events such as equestrian sports, cyclothon (with around 4,000 participants annually), marathons (with over 43,000 participants annually) and various races.
- Jewellery － Hong Kong is home to many world class jewellery, gemstones and timepiece trade shows. There is a flourishing trade of diamond trading companies who manage international sales from a base in the city. Hong Kong’s fine jewellery exports amounted to HK$71 billion in 2022. The total trade in diamonds, precious stones and jewellery exceeded HK$496 billion in 2022. Hong Kong is one of the premier hubs for the luxury watch segment, with an established retail network and a growing ecosystem ofsecond hand and vintage sellers. Hong Kong’s fine jewellery and watches sales in 2022 was around HK$39 billion.
- Pet Products － As the number of households with pets has grown substantially over the years, around 250,000 households in Hong Kong (9.4%) in 2019 were keeping an estimated total of over 405,000 cats and dogs, the demand for high quality pet supplies are on the rise. This trend is projected to continue in the coming years, opening up new retail opportunities for providers of pet supplies, particularly in the fast-growing eCommerce channel.
- eCommerce － Hong Kong is a great location to set up eCommerce fulfilment centre thanks to the city’s sophisticated logistics infrastructure and ubiquitous internet access with a range of payment options. Export air cargo clearance can be as fast as 15 minutes. Hong Kong is home to most leading financial institutions and major mobile wallet technologies. It is also possible to access millions of regional consumers through a presence on e-platforms, managed from a base in Hong Kong. The average consumer spends over HK$15,000 online each year, the 2nd highest across Asia.
- Sourcing － Many of the world’s biggest retailers have set up their regional or global sourcing operations in Hong Kong to leverage the city’s strategic business advantages, sourcing and digital infrastructure as well as an established pool of talent. The ecosystem is supported by world class trade shows, show rooms and suppliers. Hong Kong is also a popular place to set up a corporate treasury centre to manage capital flows and trade finance.
Fast Facts
Zero sales tax and no import tariffs on almost all products
HK$25.4
billion
HK$25.4 billion worth of cosmetics and personal care items imported in 2022
5,390
Retail outlets selling medicines and cosmetics
There were 5,390 retail outlets selling medicines and health supplements, cosmetics and personal care products in Hong Kong in 2022
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