Hong Kong POS Terminal Market – 2024

By Lee Holman Mar 9, 2024 3 Min Read

Despite economic challenges, Hong Kong’s retail sector has demonstrated remarkable resilience, and there has been a strong rebound in retail sales in recent years. The retail environment is an interesting mix of modern retail (international chains, advanced technologies, new customer journeys and mature retail segments) and more traditional retail (wet markets, mom-and-pop shops, boutiques and bartering). Modern retail has one of the most mature POS markets in APAC, while the traditional part has everything from current POS down to cigar boxes to hold cash and receipts.

Total Retail Sales: $516 Billion ($338 Billion), up 3.0% from 2022

Hong Kong POS Terminal Market – Countries Overview

8^th Largest APAC economy $1.6 Trillion
8^th Largest retail market in the region
8^th Largest POS Installed Base in Asia-Pacific
$7,137 per capita retail sales

Leading Retailers

Alibaba Group (#29 worldwide), A.S. Watson (#54), Chow Tai Fook (#98), Dairy Farm (#140), PARKnSHOP, Sa Sa International, Belle, Suning, Luk Fook, Chow Sang, Yata, Lane Crawford

Key Hong Kong POS Terminal Market Trends

Retail in Hong Kong has a 1st-class infrastructure and looks fairly western in terms of consolidation. Their top 10 retailers garner a 30+% share, roughly equivalent to the US.
Over the past decade, retail sales have declined 11%. This is in contrast to the positive growth of 14% for Japan, 118% for China and 178% for India. The decline was the result of Hong Kong having the highest COVID-19 mortality rate in the developed world.
Traditional wet markets and mom-and-pop shops still constitute a significant share of food retailing, especially for seafood, meat and groceries.
Hong Kong’s retail sales benefit greatly from tourists from Mainland China. Most of those tourists come specifically to shop for US luxury goods, especially jewelry and watches. Many top luxury retail brands have established local or Asian regional offices. This is done to expand their retail presence in Hong Kong, including LVMH, Bvlgari, and Tiffany.

Key Hong Kong POS Terminal Market Size

2023 market was €34 Million and is expected to grow to €46 Million (34.1%, 6.1% CAGR ) by 2028.

Key POS Hardware Vendors/Key POS Software Vendors

Among the key POS hardware vendors in the Hong Kong POS market are NCR Voyix, Oracle, HP, Diebold Nixdorf and Toshiba Global Commerce Solutions.
Key POS software vendors in the Hong Kong POS market include Aptos, Cegid, NCR Voyix, Oracle and Toshiba.

IHL Studies for Hong Kong POS Terminal Market

2024 Asia-Pacific POS Terminal Market Study

This study includes market sizing, POS shipments, POS installed base and trends for the key APAC countries (China, Japan, Australia-New Zealand, etc) and the region as a whole.

Includes POS market share by software vendor by segment

Provides POS shipments and POS installed base by quarter for each retail segment for the APAC region.

2024 Asia-Pacific Retail Stores/POS Sizing by Retail Chain Size

Included in this study are Market Sizing by store locations and chain size for Asia-Pacific