Hong Kong E-commerce Market Size (2024 - 2029)

The Hong Kong e-commerce market is experiencing notable expansion, driven by increased digitalization among retailers and enhanced internet penetration due to advancements in information communication technologies. Despite a general reluctance towards online shopping compared to Mainland China, the region's high population density presents new opportunities as it shifts towards e-commerce. The rise in smartphone usage and the involvement of younger generations in online shopping through social media channels are further propelling this growth. The availability of 5G networks is enhancing mobile e-commerce, while the country's efficient logistical system supports retailers in adopting e-commerce solutions. Although the COVID-19 pandemic posed logistical challenges, it also accelerated the need for e-commerce, contributing to the market's growth.

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Market Size of Hong Kong E-commerce Industry

hong kong e-commerce market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.70 %
Market Concentration Medium

Major Players

Hong Kong E-commerce Market Major Players

*Disclaimer: Major Players sorted in no particular order

Hong Kong E-commerce Market Analysis

The Hong Kong e-commerce market is anticipated to register a CAGR of 8.7% over the forecast period from 2022 to 2027.

  • E-commerce in the country is experiencing significant growth due to an increase in the adoption of digitalization by retailers in the region. Also, internet penetration in the region has increased as the advancement in information communication technologies has fueled the adoption of broadband services in households and businesses.
  • However, the region is characterized by an aversion toward online shopping compared to Mainland China. The high density of population in the region is expected to create new opportunities as the region experiences a transition toward online shopping.
  • The E-commerce uptake is increasing with the rising smartphone use and younger generations involved in online shopping via social media channels. Mobile e-commerce is enhanced with 5G networks available in the country, increasing on-the-go internet speeds and facilitating more mobile e-commerce.
  • Further, the country has a robust and efficient logistical system and is a regional logistical center of Asia. The robust logistical system eased the adoption of e-commerce by retailers in the country.
  • The advent of COVID-19 has raised severe challenges in terms of logistics and transportation of goods due to stringent lockdowns in the region. However, the pandemic also created a need for the adoption of e-commerce and fueled the growth in the region.

Hong Kong E-commerce Industry Segmentation

Conducting an e-commerce business means fostering relationships and selling information, services, and goods over computer communication networks. E-commerce usually refers to trading goods and services over the internet, which means broader economic activity. E-commerce consists of B2B and B2C and internal organizational transactions that support these activities.

The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period in Hong Kong. The study further analyzes the overall impact of COVID-19 on the ecosystem. The scope of the report encompasses market sizing and forecast for segmentation by B2B and B2C, in which the B2C channel is further segmented by application.

By B2C ecommerce
Market size (GMV) for the period of 2017-2027
Market Segmentation - by Application
Beauty and Personal Care
Consumer Electronics
Fashion and Apparel
Food and Beverage
Furniture and Home
Others (Toys, DIY, Media, etc.)
By B2B ecommerce
Market size for the period of 2017-2027
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Hong Kong E-commerce Market Size Summary

The Hong Kong e-commerce market is experiencing robust growth, driven by increased digitalization among retailers and higher internet penetration due to advancements in information communication technologies. The region's transition towards online shopping is facilitated by the high population density, which presents new opportunities for e-commerce expansion. The rise in smartphone usage and the involvement of younger generations in online shopping through social media channels are further propelling the market. The availability of 5G networks is enhancing mobile e-commerce by providing faster internet speeds, while the country's efficient logistical system supports the seamless adoption of e-commerce by retailers. Despite challenges posed by COVID-19, such as logistical and transportation issues, the pandemic has accelerated the adoption of e-commerce in the region.

The increasing penetration of online retailing is evident as more businesses adopt the online-to-offline model to cater to the growing demand in the online marketplace. The fashion retail sector is becoming increasingly competitive, with major brands enhancing their e-commerce operations to capture the online shopping market. Technological advancements and improved logistics have reduced costs, enabling logistical companies to offer affordable services for small e-commerce orders. Social media platforms like Facebook and Instagram are playing a crucial role in fashion e-commerce, with companies focusing on brand advertising and user engagement to influence consumer purchasing decisions. The competitive landscape in Hong Kong's e-commerce market is medium, with both local and global brands intensifying their presence, thereby increasing market rivalry.

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Hong Kong E-commerce Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness-Porter's Five Force Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers/Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Key market trends and share of e-commerce of total Retail sector

    4. 1.4 Impact of COVID-19 on the e-commerce sales

  2. 2. MARKET SEGMENTATION

    1. 2.1 By B2C ecommerce

      1. 2.1.1 Market size (GMV) for the period of 2017-2027

      2. 2.1.2 Market Segmentation - by Application

        1. 2.1.2.1 Beauty and Personal Care

        2. 2.1.2.2 Consumer Electronics

        3. 2.1.2.3 Fashion and Apparel

        4. 2.1.2.4 Food and Beverage

        5. 2.1.2.5 Furniture and Home

        6. 2.1.2.6 Others (Toys, DIY, Media, etc.)

    2. 2.2 By B2B ecommerce

      1. 2.2.1 Market size for the period of 2017-2027

Hong Kong E-commerce Market Size FAQs

The Hong Kong E-commerce Market is projected to register a CAGR of greater than 8.70% during the forecast period (2024-2029)

Hong Kong TV Shopping Network Limited, WeChat Pay Hong Kong Limited, JD.com, Inc., Amazon.com, Inc and Alibaba Group Holding Limited are the major companies operating in the Hong Kong E-commerce Market.

Hong Kong E-commerce Market Report Snapshots

Hong Kong E-commerce Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)