益普索-香港旅游大数据 IPSOS HONG KONG NEW NORMAL TRACKER 202307

HONGKONG

Takingtothe

roadinlargernumbers

IPSOSHONGKONG

NEWNORMALTRACKER

July2023

AUTHOR

JavierCalvar

3

Months

Plantotravelinnext3months

Significantlylowerthaninthepreviouswave

MORETRAVELLERSTOTHESAMEPLACES

WhenweaskedHongKongersbackinAprilabouttheirtravels,30%hadventuredoutsidetheTerritoryinthepreviousthreemonthsand50%wereplanningtodosobySeptember.Theycouldn’twaitthatlong,though,andthelatestdata(collectedinJune)fromourNewNormalTracker1suggestalmostexactlyhalf(49%)ofHongKongresidentshadtravelledbeyondtheTerritory’sbordersinthepastthreemonths.Thispositivemomentumislikelytocontinue,asmorepeopleplantotravel(seeFigure1).

FIGURE1:GOINGPLACES.

6

Months

April2023June2023

50%64%

Plantotravelinnext6months

Significantlyhigherthaninthepreviouswave

30%

49%

April2023

June2023

Q63,HaveyoutravelledoutsideofHongKongSARinthepastthreemonths?/Q66Lookingforward,areyouplanningtotraveloutsideof

HongKongSARinthenextsixmonths?

Source:IpsosTheNewNormalsurvey|April,June2023|Base:n=1,000(Q63),n=1,000(Q66)

LeisurehasremainedthemainmotivationforHongKongerstotaketotheroad:81%ofthosewhotravelledinthepreviousthreemonthsdidsoforpleasure,exactlythesameproportionasinApril.Lookingahead,leisurewillcontinuetobethemainreasonforHongKongerstotravel,84%claimingso.

Despitethisincreaseintravel,HongKongershavebyandlargestayedwithintheSAR’svicinity,goingtothesamedestinationsastheydidinApril.TaiwanhasbenefittedfromlargernumbersofHongKongvisitors(28%travelledthereinJunevs.17%inApril),ashaveMacao(26%vs.19%),SouthKorea(20%vs.12%)and,furtherafield,Australia(8%vs.3%).Thedestinationmapwilllikelyremainunchangedintheimmediatefuture,withcountriesinHongKong’sbackyardcontinuingtobenefitfromitsresidents’resumptionoftravel(seeFigure2).

HongKongtakingtotheroadinlargernumbers

Intendtotravelinnext6months

Average:20%

FIGURE2:STILLINTHENEIGHBOURHOOD.

Average:18.2%

Travelledtoinpast3months

Q64:Wheredidyoutraveltointhepast3months/Q67:Whereareyouplanningtotraveltointhenext6months?

Source:IpsosTheNewNormalsurvey|June2023|Base:n=489(Q64),n=636(Q67)

OursurveydatainAprilalsoshowedthat20%ofHongKongershadneithertravelledinthepreviousthreemonthsnorwereplanningtodosointhecomingsixmonths,duemainlytofinancialconstraints.Whilethisgrouphasbecomesmallerat14%ofallsurveyrespondents,thereasonsforthemtostayputremainthesame:nearlysixin10(59%)feelapressingneedtobecarefulwiththeirfinancesandnearlyhalf(48%)thinktravelisstilltooexpensive.TheseconcernsneedtobeplacedinthecontextofHongKong’seconomyslowingdownto1.5%inQ.2,from2.9%inthefirstquarter.

HongKongtakingtotheroadinlargernumbers

MILLENNIALSTOJOININ

OurdatabackinAprilshowedthatMillennials

wereparticularlyreluctanttotravel,withjust

overone-third(35%)planningtodosointhe

nextsixmonths,comparedto50%amongthe

widerHongKongpopulation.Financialconcerns

wereimportantamongthiscohort,70%saying

theyneededtobecarefulwiththeirmoney,

comparedto57%amongeveryoneelse.

Thisseemstobeabouttochange,ourJune

datashowingtwo-thirds(66%)ofHongKong

Millennials,nearlydoubletheproportionin

April,areplanningtotravelinthecomingsix

months.Thisisdespitepersonalfinancesbeing

apressingissueforMillennials,whoaremore

likelythanothercohortstobecuttingdown

onarangeofactivities,fromeatingoutless

oftenandlimitingtraveltodelayingupgrades

andcancellingsubscriptions.Datafromour

FinancialServicesSurvey2alsoshowthat

about30%ofHongKongMillennialshavea

mortgage,amuchhigherproportionthanother

generationalcohorts.Mortgageownership

undoubtedlyputsMillennials’personalfinances

underadditionalstrain.Again,thisneedstobe

placedinthecontextofarelativeeconomic

slowdowninQ.2.

Combiningpleasurewithworkwillbeapopular

optionamongMillennials,morethanaquarter

(27%)claimingthiswillbethereasonfortheir

travelswithinthenextsixmonths,versus15%

amongthegeneralHongKongpopulation.They

willalsobemorelikelythanothercohortsto

shopatduty-freestoresintheirforthcoming

trips:67%vs.58%amongalltravellers.

HongKongtakingtotheroadinlargernumbers

HongKongtakingtotheroadinlargernumbers

Intendtopurchaseduringtripinnext6months

SHOPPINGISPARTOFTRAVELLING

Shoppingisoftenpartofthetravelexperienceandnearlyhalf(48%)ofthosewhotravelledinthepastthreemonthsdidshopatduty-freestoresduringtheirtrip.Millennialswereparticularlyavidshoppers,60%spendingatduty-freestoresduringtheirlasttrip.

Thispatternwilllikelycontinueasmorethanhalf(58%)ofHongKongerswhointendtotravelinthenextsixmonthsalsoplantomakeduty-freepurchasesduringtheirtrips,particularlyMillennials(68%),whoarealsolikelytoputawiderrangeofproductsintheirshoppingbaskets.

Food,spiritsandwine,apparel,andleathergoodsandaccessoriesarethecategoriesmostfavouredbyHongKongtravellersandwilllikelycontinuebeingso(seeFigure3).

FIGURE3:DUTY-FREESHOPPING

Average:

22.7%

Food

Spirits&Wine

LeatherGoods&

Average:26.4%

Watches

Jewellery

Other

Accessories

Apparel

Purchasedduringtripinpast3months

Q70a:Whatdidyoubuyatduty-freeduringthetripyoutookinthepastthreemonths?/Q71a:Whatareyouplanningtobuyat

duty-freeinthetripyouintendtotakeinthenext6months?.

Source:IpsosTheNewNormalsurvey|June2023|Base:n=237(Q70a),n=371(Q71a)

CONCLUSION

Despiteadeclineinconsumer

sentimentandaneconomicslowdown

inQ.2,travelistakingoffamongHong

KongersandMillennialsarebecoming

keydriversofthisdevelopment.As

morepeopletaketripsbeyondHong

Kong’sborders,travelretailstands

tobenefitandbrandspresentinthis

channelwillbewisetostrengthentheir

operationswhereHongKongersare

mostlikelytotravel:Japan,mainland

China,SouthKorea,Taiwanand

Macao.

Flawlessretailexecutionwillbekey

forthemostpopularcategories

amongHongKongtravellers:food,

spiritsandwine,apparel,andleather

goodsandaccessories.In-store

activationsshouldbetailoredtothe

largestconsumersegments,knowing

Millennialswilllikelyincreasetheir

presenceatduty-freestores.

1)IpsosHongKongNewNormalTrackermonitors

changesinconsumersentimentandbehaviour

inresponsetothedynamicenvironmentofHong

KongSAR.Datawerecollectedmonthlybetween

April2020andJune2021,andquarterlythereafter.

Additionalmarkets/questionsavailableupon

request.

2)IpsosHongKongFinancialServicesSurveyisa

comprehensiveandrobustsourceofin-sightsinto

financialservicesandproductsinHongKong.Itis

asyndicatedsurveythatlever-agesIpsos’data-

collectionca