New Consumer Goods market report from Business Monitor International: "Hong Kong Consumer Electronics Report Q1 2014"
Boston, MA -- (SBWIRE) -- 01/29/2014 -- Hong Kong remains an attractive consumer electronics market due to high incomes and strong demand for the latest products. However, spending growth on consumer electronics devices slowed in 2012 and 2013 due to a combination of a weaker economic environment, price erosion and high penetration of devices in key markets. Countering some of the impact of high penetration rates are the short replacement cycles in key product categories such as smartphones and tablets, helping spending growth to stay in positive territory and BMI estimates total spending increased 5.7% in US dollar terms in 2013 to reach US$4.45bn. There is, however, downside risk to this scenario from the negative wealth effect of any cooling in property prices that would hit consumer confidence.
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