Housewares in Hong Kong, China
- ID: 339865
- February 2006
- Region: Asia, China, Hong Kong
- 8 Pages
- Euromonitor International
Our Housewares in Hong Kong report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (1999-2004), allowing you to identify the sectors driving growth. It identifies the leading companies and offers strategic analysis of key factors influencing the market. Forecasts to 2009 illustrate how the market is set to change.
Product coverage: ceramic housewares, china and porcelain, cutlery, glassware, plastic housewares
Data coverage: market sizes (historic and forecasts), retail distribution
Why buy this report?
- Get a detailed picture of the housewares industry
- Pinpoint growth sectors and trends and identify factors driving change
- Understand the competitive environment and identify the market’s major players
- Use five-year forecasts to assess how the market is predicted to develop
With a network of over 600 analysts worldwide, we have a unique capability to develop reliable information resources to help drive informed strategic planning.
1. EXECUTIVE SUMMARY
2. MARKET PERFORMANCE
Table 1 Retail Sales of Housewares: Value 1999-2004
Table 2 Retail Sales of Housewares: % Value Growth 1999-2004
3. LEADING COMPANY PROFILES
Table 3 Pricerite: Turnover Summary 2000-2003
4. RETAIL DISTRIBUTION
Table 4 Retail Sales of Housewares by Distribution Format: % Analysis 1998/2003
5. FORECAST MARKET PERFORMANCE
Table 5 Forecast Retail Sales of Housewares: Value 2004-2009
Table 6 Forecast Retail Sales of Housewares: % Value Growth 2004-2009
A struggling economy takes its toll as houseware sales drop
The overall gloomy economic environment in Hong Kong and the concomitant slack property market caused housewares retail sales to decline by 5% in current value terms over the review period.
The rise of cheaper mainland China imports caused significant price erosion as well, contributing to declining value sales.
Hong Kong consumers chose function over fashion
In the tight fiscal situation prevailing, Hong Kong consumers took to less expensive plasticware, where new technology led to the launch of new designs and better quality products at lower prices. In contrast, the more aesthetic and stylish glassware, had a rollercoaster ride, spurting in 2000 and 2001, and falling by close to 13% in 2002 and a further 7% in 2003, before rebounding in 2004.
Chain store format leads the market
With regards to retail format, chain stores is clearly the leading distribution channel in Hong Kong. Pricerite, Japan Home Center and $10 Stores are strong players targeting the lower-priced market. Ikea targets the middle-lower segment with a large selection of products. G.O.D and Franc Franc target the middle-upper segment or the more lifestyle-conscious market.
Positive forecast for the short term
With signs of recovery in the economy and property market, industry sources foresee a strong recovery in 2004 and 2005, and the recovery of retail prices. However, only moderate and steady growth is projected for 2006 and beyond due to market saturation and unforeseeable economic factors.
Industry players expect continuous market demand for stylish, practical and functional houseware goods.