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Hong Kong Grocery Market: Supermarket Chains, 759 Store and Best Mart 360°

Coresight Research

Key Points

Supermarket chains play an important role in Hong Kong for taking care of citizens’ daily grocery needs. Today, two large supermarket chains, namely Wellcome and ParknShop have taken a lion’s share of the market, making it difficult for smaller scale businesses to come and compete. Against this backdrop, two discount grocery store chains – 759 Store and Best Mart 360º – are carving out their own spaces by providing differentiating offerings and low-price options to consumers.

  • Wellcome and ParknShop are the two biggest supermarket chains in Hong Kong. A 2016 report by USDA’s Foreign Agricultural Service on Hong Kong retail food market showed that these two supermarkets accounted for about 75% of retails sales amongst all grocery retailers in 2015.
  • 759 Store is a successful discount grocery store chain competing with supermarkets primarily in categories of snacks and staple food.
  • Best Mart 360º entered the market after 759 Store and is in the process of applying for an initial public offering (IPO) in Hong Kong to fund its expansion.

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