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 shopping 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. Retail sales amounted to over HK$350 billion in 2021.
- Cosmetics & Personal Care － Hong Kong’s open regulatory environment for cosmetics has ensured significant market space for both cosmetics and personal care. Imports of cosmetics and personal care items amounted to nearly HK$60 billion in 2021. Sales channels include stand-alone boutiques, multi-brand retailers, online platforms and beauty salons. Cosmetics and personal care items are a favorite purchase category for both local consumers and international and Mainland visitors thanks to the attractive prices (no VAT, no import duties) and a wide global selection available in the city.
- 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 mins. 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.
- 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. The total trade in diamonds, precious stones and jewellery exceeded HK$470billion in 2021. Hong Kong is one of the premier hubs for the luxury watch segment, with an established retail network and a growing ecosystem of second hand and vintage sellers.
- 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$47
billion
HK$47 billion worth of cosmetics and personal care items imported in 2019
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