Insights into the growth of Hong Kong eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled
Hong Kong is home to 7.35 million people with a total GDP of 320.91 billion USD and is ranked as the 44th richest country, according to the World Bank GDP per capita rankings. Hong Kong’s GDP per capita is currently 45,540 USD and expected to reach 54,008 USD by 2021.
Digital User Insights
There are currently 4.15 million eCommerce users in Hong Kong, with an additional 1.2 million users expected to be shopping online by 2021. Four years from now, these 5.35 million eCommerce users will spend an average of 1021.81 USD online.
Dividing internet usage into age groups gives a better picture of the Hong Kong eCommerce market – 99% of 16-44 year-olds log on daily. The older generations also log on regularly with 45-54 year-olds and over 55s showing a 95% and 92% daily penetration rate, respectively.
Total Hong Kong eCommerce revenue across all product categories is 3.71 billion USD, and is expected to grow to 5.47 billion USD by 2021. Electronics & Media is currently the leading product category in Hong Kong, accounting for 1.07 billion USD market share, followed by Fashion which generates 990.5 million USD in sales.
By 2021, Electronics & Media will still be the most purchased online category, with a value of 1.55 billion USD, and second favourite, Fashion, will have an expected worth of 1.54 billion USD.
Where does Hong Kong buy from?
China supplies Hong Kong with 273 billion USD in imports – ranging from telephones to gold. Hong Kong’s other key import partners are various Asian countries (36.9 billion USD), Singapore (34.7 billion USD), Japan (33.9 billion USD) and the US (31.2 billion USD).
Internet and Device Usage
Internet penetration in Hong Kong is currently 81.6%, and should reach 84.3% by 2021. Smartphone penetration is a little less (76.1%), but is projected to grow to 80.7% in the next four years.
74% of online shoppers in Hong Kong buy via desktop, a stark contrast to the amount of smartphone (16%) and tablet (6%) shoppers.