The E-Commerce

Hong Kong - E-Commerce Market Outlook & Retail Trends in 2023

Last Updated: January 13, 2023
Welcome! Here at OOSGA, we've combined insights from our partners across various markets and our own hands-on experience to bring you this brief. If you are interested in partnering with us on our e-commerce support or research within Hong Kong, let us know!

The Outlook

What's the Outlook of The E-Commerce Market in Hong Kong?

Hong Kong’s traditional culture of social shopping and easy access to bricks-and-mortar retailers have long constricted the growth of online commerce in the territory. However, this trend is rapidly changing, thanks to Hong Kong’s sophisticated telecommunications infrastructure, high income levels, and the ongoing coronavirus (COVID-19) pandemic. According to the Office of Communications Authority (Ofca), the rate of household broadband penetration stood at 96.6% as of the end of 2021, up from 94.9% at the end of 2020. Additionally, 81% of customers now have fiber-to-the-home or fiber-to-the-building connections, up from 78.1% at the end of 2020.

This impressive telecommunications infrastructure is further supported by the presence of 294 internet service providers and 83,095 public Wi-Fi access points as of March 2022. The government also provides free Wi-Fi services at major government buildings. Broadband services are relatively cheap in Hong Kong, thanks to fierce competition and high population density. Many residents access the internet through mobile devices such as phones and tablets.

The majority of telecom traffic in Hong Kong is now data-based, rather than voice-based. According to Ofca, Hong Kong had around 24.8 million mobile-phone subscribers in December 2021, with 99.8% of these being mobile broadband customers. The territory’s 323.4% mobile subscriber penetration rate is among the highest in the world. Hong Kong’s mobile carriers were among the first to establish networks using fifth-generation (5G) technology, which allows mobile phones and other wireless devices to connect to the internet and use other data services at high download speeds.

As of the end of May 2022, Hong Kong had five mobile-network operators. The market leader is Hong Kong Telecom (HKT), majority-owned by PCCW, a UK-based telecom holding company, with about 4.4 million mobile subscribers as of June 2021. The others are Hutchison Asia Telecom Group (under the 3 Hong Kong brand), SmarTone (owned by property developer Sun Hung Kai Properties), China Mobile Hong Kong, and CSL Mobile, which is also controlled by PCCW. According to EIU, about 79% of mobile subscribers had 4G access in December 2019.

Under a scheme run by the Ofca, the government subsidizes select operators that expand optical fiber networks to 235 remote villages in the New Territories. In 2020, the Ofca announced a new subsidy scheme for companies that deploy 5G technology to improve the efficiency and quality of their operations. Under the scheme, the Ofca can subsidize up to 50% of the actual cost of deploying 5G technology, subject to a cap of HK$500,000 per project. In July 2021, the government doubled funding for the subsidy scheme, from HK$50 million to HK$100 million. With this increased support for the development of 5G infrastructure, it is likely that we will see even more growth in online commerce in Hong Kong in the coming years.

Table of Contents
Hong Kong - E-Commerce & Total Retail Sales | Billion $
Hong Kong - Retail & E-Commerce Growth | %
Hong Kong Retail, Value Added | (% of GDP)
Hong Kong E-Commerce Penetration Rate | (% of Total Retail Sales)

The Platforms

What's The Landscape of E-Commerce Platforms in Hong Kong?

The demographic of e-commerce platforms in Hong Kong is diverse, as there is a strong push for local e-commerce and an influx of Chinese platforms, as well as some foreign platforms. In 2023, it is likely that HKTV, TMall, and Taobao will remain the most dominant players in the Hong Kong market.

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Finance Environment

42.5% of Customers Shop on The Internet

In Hong Kong, There are about 65.4% of people use credit cards, and 82.9% of people use debit cards. While there are 42.5% of people purchase on the internet, there is only 43.4% of people with online banking accounts.

Source:World Bank, Payment Service Providers, eMarketer

% with financial accounts

% with credit cards

% with debit cards

% get paid through digital channels

% buy on the internet

% with internet banking

% pay bill through online

% E-Commerce Penetration

Weekly Purchases

What E-Commerce Users in Hong Kong Purchase on a Weekly Basis?

Source: Statista Digital Market Outlook

Driving Factors

For Consumers in Hong Kong, What's The Main Drivers For Using E-Commerce?

Source: (Q3, 2021)
% of respondents think is their main drivers | Multi-select survey

What Does Consumer Goods E-Commerce Look Like in Hong Kong?

There is 6.46 million consumer goods e-commerce users in Hong Kong, and they spend total of around 20.56 billion USD dollars in 2021. That makes a per capita spending on consumer goods e-commerce of around  3183 USD. Also, in those e-commerce users, about 41.9% of them purchase through their mobile phone.

Hong Kong - Consumer Goods E-Commerce Sales | Million $

Travel E-Commerce Landscape in Hong Kong

Source: Statista Digital Market Outlook 2021
Hong Kong - Travel E-Commerce Sales | Million $

Digital Media Landscape in Hong Kong

Source: Statista Digital Market Outlook 2021
Hong Kong - Digital Media E-Commerce Sales | Million $

Food Delivery Landscape in Hong Kong

There is around 3.02 million  people using e-commerce to order delivery in Hong Kong in 2021 . And throughout 2021-2022, the growth rate of food delivery users is at 5.7% according to a report issued by Statista, a data compiling company. The current market size of the food delivery market in the country is  832.5 million USD which translate to per user spending of about  276 USD.

Annual Users Growth (%)

Annual Market Growth (%)

Spend Per User (Nominal $)

Digital Payment Landscape in Hong Kong

There is about 5.59 million people using digital channels to transact in Hong Kong in 2021. Over the period of 2021-2022, the figure had even grown at around7.3%. The total transaction value is worth 16.00 billion USD and or around 2861 dollar per digital payment user.

Annual Digital Payment Users Growth (%)

Annual Market Growth (%)

Transaction Per User (Nominal $)


  • Retail Sales & E-Commerce Penetration: eMarketer, Edge By Ascential, Euromonitor Retail Passport
  • Currency: Based on IMF Data 2022/12
  • Consumer Behavior: Statista Digital Market Outlook
  • Retail Channels: Euromonitor, Local Association, Financial Reports (Of Relevant Retailers)
  • Data Compilation:
  • Analysis: OOSGA CR Team Analytics
Author: Consumer Research Team

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