The face of the retail and consumer products sector is rapidly changing in China and Hong Kong. This is evident to anyone walking in a crowded shopping district. Whereas previously flagship luxury stores dominated the shopping landscape in Hong Kong, fast fashion and lifestyle stores are increasingly prevalent. The physical face and purchase interface is also changing: younger shoppers can be seen using their smartphones to purchase items online anywhere at any time, or even comparing prices of items while they shop in stores.
This report examines the recent developments in China and Hong Kong's retail and consumer products sectors, including luxury goods, apparel and footwear, beauty and personal care and consumer appliances; as well as how some innovative companies are responding to the challenges.