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Hong Kong consumers prefer Japanese, Korean brands

As per Nielsen’s Japanese and Korean Trends report, the emerging popularity of Korean dramas, movies and K-pops, the prevailing pop culture in Hong Kong has shifted from Japan to Korea. With Korean products getting more popular and Korean brands being widely accepted by consumers, around one-third of the respondents plan to increase their spending on Korean products in the near future. Around 28 per cent of respondents claimed to purchase Korean fashion products, one-third of the respondents claimed that they will purchase cosmetic products, and among them, 37 per cent will increase their spending. This rising trend has shown a great potential for the Korean retail market to come.

The report says, the key driving factors behind Korean trend popularity mainly comes from entertainment (76 per cent), followed by fashion / personal care (71 per cent) for millennials being the target customers. The report suggests that in order for Korean brands to grow even further in Hong Kong, it is important for brands to drive a higher acceptance among their target group of customers to generate a better word-of-mouth effect. Identifying effective channels to reach the target groups is crucial and can also help in maximising the return on investment. Social media platform is still an impactful channel for the millennials to share their personal opinions and to seek advice.

 

 
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