In 2024, demand for traditional watches in Hong Kong is significantly declining. This trend is particularly evident in the mid and high price segments of mechanical watches. According to the Swiss Watch Export data, exports to Hong Kong and mainland China decreased by double digits in the first half...
Following a post-pandemic rebound, personal accessories in Hong Kong has faced significant challenges in 2024 due to broader economic uncertainty in the region. Therefore, both retail volume and value sales of personal accessories as a whole are declining. The waning appeal of Hong Kong to internati...
After a significant rebound for luxury handbags in 2023, sales of bags and luggage in Hong Kong are declining in both retail volume and value terms in 2024. A less severe value decline compared to volume is due to a further rise in the average unit price, driven by luxury brands. Historically, inter...
After the significant rebound for the category in 2023, jewellery in Hong Kong is experiencing a declining trajectory in 2024, with a particularly strong drop in retail volume sales. This trend is especially evident in fine jewellery with a double-digit decline, due to the reduction in tourist spend...
Following a rebound the previous year, demand for writing instruments in Hong Kong, especially for luxury pens, which used to be a popular choice for gifting, is declining in 2024. With the Hong Kong dollar pegged to the strong US dollar, luxury goods in the city no longer hold significant price adv...
New manufacturing hubs are driving supply chain diversification efforts. However, these countries still depend on imports of Chinese components, making supply chains longer and more complex. Challenges like insufficient production capacity and lack of supporting industries continue to impede supply ...
In 2024, jewellery in China is set to experience small contractions in both retail volume and current value terms, primarily impacted by macroeconomic uncertainties and a decline in consumer confidence. In value terms, the decline in costume jewellery is set to surpass that of fine jewellery, largel...
The global economic downturn has cast a shadow over personal accessories in China, with a projected retail current value decline in 2024. Low consumer confidence, broader economic uncertainties, and a shift in consumer priorities have contributed to this decline, as consumers have become more cautio...
Retail volume and current value sales of bags and luggage in China are projected to decline at a mid-single-digit rate in 2024. This downturn will primarily be driven by a strong decrease in sales of handbags, particularly luxury handbags, which is set to see double-digit declines. In 2024, as the p...
Writing instruments in China is projected to experience modest retail volume and current value growth in 2024, influenced by a complex external environment and evolving consumer preferences. While the resumption of school and extracurricular activities post-pandemic has been driving sales of student...