ASEAN KEY DESTINATIONS
Home >> Daily News >> ASEAN ANALYSIS
Coffee culture in Hong Kong continues to stimulate sales of coffee machines: GfK
Overall market reaches nearly USD9.3 million in first ten months of 2013
10 December, 2013, HONG KONG –The number of coffee drinkers who prefer to enjoy their cuppa in the comfort and convenience of their own home continues to rise as increasing number of households are equipping theirs with their very own coffee machine. Over the recent years, GfK retail audit of coffee machine sales have been reflecting a consistent uptrend. In the first ten months of this year, nearly 37,000 coffee machines were sold; almost 5000 units or 16 percent compared to the same period last year.
“Size of coffee machine market in Hong Kong has been expanding by robust double digit growth every consecutive year since GfK started tracking its sales in the country in 2009,” observed Walter Leung, Managing Director for GfK in Hong Kong.
Over the years, rising sophistication of the population and the appliance industry in general has brought about gradual but significant changes in the coffee machine market. Where the basic and most inexpensive models of filtered coffee machines used to be the most popular choice among users, there is a growing inclination towards the various types of higher priced espresso machines.
According to GfK findings for sales volume in the first ten months of this year, one in every three units (33%) sold was a filtered coffee machine; down from 40 percent during the same period last year. Instead, more are going for the capsule coffee machines which garnered nearly 90 percent increased sales volume—from 7,500 last year to 14,100 this year, and becoming the most sought after type of coffee machine in volume terms.
“The capsule models are more compact and fits the small living space typical of homes in Hong Kong,” said Leung. “Besides, these machines are easy to store, use and clean—ideal for the busy lifestyle of people in the country.”
Key brands selling these types of coffee machines have also expanded their repertoire from 24 last year to 30 models this year. Available price range this year has also widened from USD105 to USD797 to cater to the different target consumer groups.
However, in value terms, Hong Kong consumers have spent the most money, totaling nearly USD4.2 million on nearly 3000 fully automatic espresso machines.
“The coffee culture in Hong Kong is still young and there is still much more room for further growth in the coffee machines market, especially the espresso machine segment,” said Leung. “Christmas is usually the time we see significant surge in small domestic appliances due to the heavy promotions by retailers and manufacturers, so we can anticipate coffee machines sales to grow substantially further to close the year on a high,” he concluded.
GfK is one of the world’s largest research companies, around 13,000 experts working to discover new insights into the way people live, think and shop, in over 100 markets, every day. GfK is constantly innovating and using the latest technologies and the smartest methodologies to give its clients the clearest understanding of the most important people in the world: their customers. In 2012, GfK’s sales amounted to €1.51 billion.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below