The Evolution of Hong Kong’s E-Commerce Market

Latest update: November 2024

Hong Kong’s e-commerce market is thriving, driven by its tech-savvy population, seamless digital infrastructure, and strategic position as a global trade hub. This article delves into the current state of e-commerce in Hong Kong. The information is sourced from the E-commerce Data Library for Asia Pacific, available here for free, and enhanced with expert insights curated by the PCMI team.

You can explore this content in detail through an infographic report, available for download below.

Current State of E-Commerce in Hong Kong

Hong Kong’s e-commerce excels in cross-border trade and digital adoption, supported by advanced infrastructure and strong consumer spending.

Additionally, 98% of the population in Hong Kong is banked, providing a solid foundation for digital payments and e-commerce growth.¹

Profiling the Hong Kong Online Buyer

Hong Kong E-Commerce Payment Methods and Devices

Hong Kong’s e-commerce market thrives on a robust digital payment infrastructure and an increasing reliance on mobile shopping. Cash-based payment methods currently account for less than 2% of the total e-commerce volume.

According to PCMI’s E-commerce Data Library, the primary payment methods for e-commerce in Hong Kong, by share of volume, are:

1. Digital wallet — 45%
2. Credit card — 42%
3. Debit card — 3%
4. Bank transfers — 3%
5. Cash payments —2%
6. Buy Now Pay Later — 2%

As for devices used for purchasing online, PCMI has observed that:

• 63% of e-commerce volume in Hong Kong comes from purchases on mobile devices
• 37% of e-commerce volume in Hong Kong comes from desktop

Top-Selling Categories and Leading Online Stores in Hong Kong

Hong Kong consumers exhibit diverse preferences in their online shopping habits, with certain categories dominating the market:⁶

1. Clothing/accessories (41%)
2. Airline tickets (37%)
3. Travel (36%)
4. Hotels (36%)
5. Home appliances (30%)
6. Online gaming (29%)

As for the top online stores in Hong Kong, based on traffic share (data from SimilarWeb⁷), the ranking is as follows:

1. Taobao (20.9%)
2. Amazon (11%)
3. Price (9.8%)
4. HKTVMall (9.2%)
5. Tmall (7.8%)

Key Insights into the Hong Kong E-commerce Market

Lastly, here are some key insights about e-commerce in Hong Kong:

Next Step:

The PCMI E-Commerce Data Library

While the data shared here can be helpful, both payments companies and ecommerce companies may benefit from a deeper dive into Hong Kong’s e-commerce data, which they can obtain by acquiring the PCMI E-commerce Data Library for Asia Pacific.

The Library covers not only Hong Kong but also 12 other countries in Asia Pacific, featuring e-commerce market data such as:

• Historical volume of Hong Kong’s e-commerce market

• Projections of Hong Kong’s e-commerce market volume for 2024-2027

• Breakdowns by merchant vertical for e-commerce in Hong Kong: retail, travel, ride-hailing, digital goods and services like streaming

• Data on both cross-border and domestic e-commerce purchases in Hong Kong for 2024 and projections for 2025 and beyond

• Breakdowns and projections of payment methods used in Hong Kong’s e-commerce (international/domestic credit cards, Buy Now Pay Later, digital wallets, and others)

And much more.

Other key advantages make the PCMI E-commerce Data Library for Asia Pacific a uniquely powerful tool for companies that seek a fuller understanding of e-commerce in the region:

• It’s customizable to client needs: you can obtain additional data you need for your company’s specific business concerns, beyond what the Library offers

• It’s budget-friendly: while detailed reports are available for 12+ countries, you can just buy data on just 1 or save money by purchasing a country bundle

• It includes personalized guidance: every purchase of the Library entitles you to a free 1-hour consultation about the data with one of PCMI’s industry experts

• It offers unlimited sharing: there is no single-user license with the PCMI E-commerce Data Library for Asia Pacific, so you can share it freely with your organization

Sources:

1. The Global Economy.com ↩︎
2. CEICData, September 2024 ↩︎
3. School of Economics, University of Hong Kong, on behalf of Taobao Hong Kong ↩︎
4. School of Economics, University of Hong Kong, on behalf of Taobao Hong Kong ↩︎
5. “Online Consumer Shopping Behavior in Hong Kong,” GoGlobe ↩︎
6. “Online Consumer Shopping Behavior in Hong Kong,” GoGlobe ↩︎
7. Similar Web ↩︎
8. Discover by DHL, “Safe Harbor in Hong Kong,” December 2023 ↩︎
9. Discover by DHL, “Safe Harbor in Hong Kong,” December 2023 ↩︎
10. “The Boom in Social Commerce in Hong Kong,” Indonesia and Singapore, YouGov ↩︎
11. “The Boom in Social Commerce in Hong Kong,” Indonesia and Singapore, YouGov ↩︎