The following research report contains market research, analysis, statistics and business intelligence relating to research on Hong Kong As A Market For U.S. Retail Brands.

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ABSTRACT
In 2001, there were more than 49,000 retail outlets in Hong Kong. Their sales exceeded US$26 billion.
Hong Kong is an attractive city for establishing retail outlets: it received 14.9 million visitors by end-November 2002 and, according to the Hong Kong Tourism Board, 78% of these visitors "went shopping." Tourist receipts totaled US$8.3 billion in 2001, some US$4 billion of which for shopping.
An important trend is the increase of Mainland Chinese tourists, most of whom come to Hong Kong specifically to shop for luxury goods, especially jewelry and watches. China visitors are now the highest per capita spenders among all visitors to Hong Kong. More than 6 million visitors came from China through November 2002. In 2001, each China visitor spent US$654 during his/her stay in Hong Kong. The average per capita spending of all the 13.7 million visitors in 2001 was US$581. Mainland Chinese visitors Hong Kong should continue to increase, especially after the Hong Kong SAR Government lifts quota restrictions on China tour groups and opens the land cross-border for 24 hours. The peak periods of Mainland Chinese visitors to Hong Kong are during the Chinese New Year ( January / February), Labor Day (May lst) and National Day (October lst) weeklong holidays. There were about 600,000 Chinese visitors during 2002's National Day holidays from September 30th to October 4th.
By2007, tourist arrivals in Hong Kong should reach 18.3 million, with about a third arriving from China. The opening of Hong Kong Disneyland in2007 will provide an additional boost to Hong Kong tourist arrivals. The theme park is expected to attract 1.4 million tourists annually and, double that by 2020.

Hong Kong is a free port with no tariffs on general imports. There are, however, domestic consumption taxes on tobacco, liquor, motor vehicles' hydrocarbon oil and methyl alcohol. There is no sales tax or VAT. There are no non-tariff barriers such as mandatory labeling or registration on most consumer goods except goods with a shelf life not exceeding 18 months.
Hong Kong has a first-class retail infrastructure with a large number of high-end commercial buildings and shopping malls suitable for retail operations. Prestigious shopping malls such as the Landmark, Pacific Place, Princes Building, Chater House, and IFC are clustered around the Central / Admiralty area, offering a very convenient and visible shopping environment. Another popular shopping district is Causeway Bay, with Times Square as the key shopping mall. A large number of high street shops and department stores complement Times Square in Causeway Bay. Tsimshatsui in Kowloon is also another popular shopping district featuring shopping malls like Harbor City, Gateway and, Canton Road and the Peninsula Hotel. By2007, there will be an additional 12 shopping malls with 4 million square feet of retail space, 50% of which will be in prime commercial locations.
Hong Kong is an important testing ground and showcase for new products, particularly for Mainland Chinese visitors. With large numbers of tourists and business travelers passing through the city, the potential reach of any marketing campaign or product launch will not be confined solely to Hong Kong.
Hong Kong consumers are also known to follow the latest trends in technology, lifestyle and fashion. They demand frequent, new, and exciting fashion styles and designs. A Cotton Council International's 2002 Survey among working adults in Asia, Europe and South America revealed Hong Kong consumers to be Asia's most frequent clothes' shoppers; more than a third of those surveyed shop for clothes at least once a month. Hong Kong consumers' average incomes are relatively high: its US$24,383 per capita GDP is the second highest in Asia, after Japan. Hong Kong is therefore an ideal location for retailers to launch a new product or retail concept for the Asia Pacific region.
Many of the world's top luxury retail brands have established local or Asia regional offices to expand their retail presence in Hong Kong to sell to the Mainland Chinese visitors and to launch their China presence: LVMH, Bulgari, Tiffany, Alfred Dunhill, Prada, Gucci, Brooks Brothers, Ralph Lauren Polo, Tommy Hilfiger, Mango, Estee Lauder, Toys "R" Us, Marks & Spencer and Banana Republic already have retail outlets in Hong Kong. LVMH has 3 "global" stores (LVMH will only open "global" stores in cities with a certain level of wealth and quality of shopping malls) in Hong Kong. At the store opening in October 2002 for Giorgio Armani Hong Kong, its largest overseas store, the Armani group spokesperson commented that "Hong Kong is simply the place to be."
China will open its retail market further, in line with its commitments for WTO membership. This presents opportunities for overseas retailers to establish a presence in China. Retailers with a base in Hong Kong are well placed to take advantage of these retail opportunities in China.

DISCLAIMER
Information in this report relies on sources including Government Publications, Opinions of industry experts and other public sources. Infomat can accept no responsibility for the accuracy or completeness of such information or for loss or damage caused by any use thereof. All prices subject to change without notice.

$3500 USD
For the 2008 Edition

Published: 2006 August
Market: Mens Womens Childrens
Region: China
Industry: Apparel
Pages: 45
Delivery: 7-12 Business Days
SKU: infre0000330