Today, Hong Kong remains a key global trading hub and free port, routing 40% of China’s trade through its borders. The transfer of sovereignty, from Britain to China, hasn’t dampened Hong Kong’s appetite for trade.
As a developed territory with a huge number of malls, Hong Kong shoppers have traditionally preferred buying goods in-store to e-commerce. Hong Kong residents reportedly spend US$5.2bn each month at stores across the region.
But there are signs of a new revolution going on in Hong Kong. Online shopping is growing fast. In 2018, 60% of Hong Kong internet users shopped online, and this figure is expected to hit over 72% in 2022.
There are good reasons for this growth. In addition to its solid national infrastructure and wealthy population, Hong Kong is an exporter’s dream: its ‘free port’ status means hardly any imported products incur taxes.
To help you import into Hong Kong, we’ve put together an essential guide. You’ll discover why the people of Hong Kong are dissatisfied with their current online shopping service levels, what they want to buy online, and what product categories are growing fastest.
In our globalized economy, companies are looking overseas to explore new market opportunities. Hong Kong should be on your list. All signs suggest this small country is filled with big potential.