Small local grocers is set to see current value growth in Hong Kong in the forecast period, although this will only be slow. The labour shortage has placed pressure not only on retailers’ ability to maintain normal operating hours, but also to find new staff for store expansion.
The pandemic drastically changed the spending habits of people in Hong Kong. They became more and more willing to spend on stocking up, and stored food for unexpected occasions at home, and this has continued to some extent.
An increasing number of retailers are focusing on providing superb value for daily essentials and convenience goods in their stores – becoming more like convenience stores. For instance, as consumers have become more health-conscious and are willing to spend more on health and fitness products, more affordable healthcare products will be introduced to the market through aggressive global sourcing by leading small local grocers, such as Best Mart 360.
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Understand the latest market trends and future growth opportunities for the Small Local Grocers industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Small local grocers are mostly independent retail outlets (with a selling space of under 400 square metres), kiosks, market stalls or street vendors, owned by families and/or run on an individual basis, and with a primary focus on selling food/beverages/tobacco and other groceries. Small local grocers also includes ethnic grocery stores that specialize in foreign brands and food types, health food stores, confectioners/newsagents/tobacconists (CTNs), food & drink souvenir stores, legally registered mobile shops that are run out of a truck, and regional specialty stores. Retail sales from farmers markets, farms, vineyards, or similar producers are also included in small local grocers. Outlets located within wet markets in Southeast Asia (often located in government-owned multi-story buildings) should be counted as separate outlets.
See All of Our DefinitionsThis report originates from Passport, our Small Local Grocers research and analysis database.
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