The 2021 financial year charted a new course for the retail industry in Hong Kong, with online retail sales surging, despite the shrinking of the overall retail market under the pandemic situation. In that financial year, retail sales from online channels amounted to around 23 billion Hong Kong dollars and was expected to grow to reach over 42 billion Hong Kong dollars in the financial year 2026.
The coronavirus epidemic expanded the presence of online-to-offline retail in Hong Kong as well. More than half of Hong Kong consumers stated that they increased their use of food delivery services after social distancing measures were imposed. Meanwhile, Hong Kong shoppers have become familiar with the O2O grocery delivery service, which is now offered by a growing number of delivery platforms in the financial hub.
Sales value of retail industry in Hong Kong from financial year 2016 to 2021 with forecasts until 2026, by distribution channel
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HKExnews. (June 30, 2021). Sales value of retail industry in Hong Kong from financial year 2016 to 2021 with forecasts until 2026, by distribution channel (in billion Hong Kong dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1271602/hong-kong-retail-sales-by-channel/
HKExnews. "Sales value of retail industry in Hong Kong from financial year 2016 to 2021 with forecasts until 2026, by distribution channel (in billion Hong Kong dollars)." Chart. June 30, 2021. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1271602/hong-kong-retail-sales-by-channel/
HKExnews. (2021). Sales value of retail industry in Hong Kong from financial year 2016 to 2021 with forecasts until 2026, by distribution channel (in billion Hong Kong dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1271602/hong-kong-retail-sales-by-channel/
HKExnews. "Sales Value of Retail Industry in Hong Kong from Financial Year 2016 to 2021 with Forecasts until 2026, by Distribution Channel (in Billion Hong Kong Dollars)." Statista, Statista Inc., 30 Jun 2021, https://www.statista.com/statistics/1271602/hong-kong-retail-sales-by-channel/
HKExnews, Sales value of retail industry in Hong Kong from financial year 2016 to 2021 with forecasts until 2026, by distribution channel (in billion Hong Kong dollars) Statista, https://www.statista.com/statistics/1271602/hong-kong-retail-sales-by-channel/ (last visited July 22, 2024)
Sales value of retail industry in Hong Kong from financial year 2016 to 2021 with forecasts until 2026, by distribution channel (in billion Hong Kong dollars) [Graph], HKExnews, June 30, 2021. [Online]. Available: https://www.statista.com/statistics/1271602/hong-kong-retail-sales-by-channel/