2014-04-28 09:00:03 - Hong Kong Consumer Electronics Report Q3 2013 - a new market research report on companiesandmarkets.com
We project that Hong Kong consumer electronics spending grew by about 6% in US dollar terms in 2013 to US$4.8bn, but a moderation in consumer demand is expected. Vendors anticipate bright spots such as HD TV sets, low-cost ultrabooks and 4G smartphones, but a wealth effect from any cooling in property prices and an equity market that appears to have peaked could have an impact on consumer spending.
We expect consumer electronics to outperform general retail sales, and the Hong Kong consumer has managed to maintain its resilience thus far, with a low unemployment rate providing strong support. General retail sales are expected to slow to 3% in 2013, down from an estimated 4.5% in 2012, but product innovation will continue
to drive growth in the AV segment, while demand will continue to be spurred by the influx of mainland tourists.
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