From payment methods to logistics we provide insights on everything you need to grow sales in the Hong Kong Ecommerce Market
Hong Kong is the 16th richest territory in the world, according to the World Bank. The city has a population of 7.2 million people with a GDP per capita of US$49,130. Total GDP is US$369 billion and is expected to grow consistently in coming years.
Hong Kong is a leading world financial center. The city is a full member of the World Trade Organization and plays an integral role for trade between China and the rest of the world.
Digital Users Insights
Currently home to 5.5 million ecommerce users, figures are expected to reach 6.5 million by 2025. The average revenue generated per user amounts to USD $1,375, with $1,740 projected for 2025. Ecommerce user penetration is at 73% expected to reach 83.3% in four years.
Hong Kong Ecommerce Product Categories
In line with global trends, personal electronics and clothing generate the most market revenue. Fashion is the leading revenue generator at US$2.3 billion to reach US$3.36 billion by 2025. Electronics and Media is next at US$1.5 billion, forecast to grow to US$2 billion by 2025.
Logistics in Hong Kong
In 2018, Hong Kong was ranked 12th in the world by the World Bank for logistics.
Preferred Online Payment Methods in Hong Kong
Hong Kong is home to a variety of alternate payment methods. Prepaid cards lead the market share with 38% of consumers using preloaded cards to make online purchases. This is followed by eWallets and credit cards. Visa, MasterCard, American Express, Discover and Maestro are all popular credit cards in Hong Kong.
Cash is still the preferred form of payment method at 23%.
Where does Hong Kong buy from?
Internet and Device Usage in Hong Kong
Digital advertising spend in Hong Kong is increasing year on year, to reach US$1.7 billion by 2025. It currently stands at US$1.3 billion as of 2021.
Social Media and Reviews in Hong Kong
In line with trends across China, Messenger Apps lead the market. However, chat apps are not dominated by one market leader and users are divided between Facebook Messenger, WeChat and WhatsApp. WhatsApp is the most popular chat app. Facebook has the highest user penetration, with 50% of Hong Kong’s citizens logging on. Reviews play an important role in ecommerce with 80% of consumers reading online reviews of products prior to purchase.
For more market insights, check out the eShopWorld series of blogs covering a range of emerging ecommerce markets.
*Insights derived from eShopWorld data, Statista, WorldBank, OECD and other industry sources.