High ownership of smartphones, tablets and phablets in Hong Kong have been positively impacting sales of complementary products such as headphones and headsets, as well as mini-speakers, according to GfK.
The surge in audio accessories sales come at the back of consumers’ fixation with smart mobile devices, having spent more than US$4.2 billion on nearly 8.4 million units of such devices in the past 12 months.
The combined market of headphones, headsets and mini-speakers generated nearly US$77 million in the last one year, reflecting a 10 percent surge over a year ago. While sales revenue for headphones and headsets expanded by nine percent, mini-speakers sold 83 percent more in volume and raked in additional 32 percent in sales dollar.
“The sophisticated consumers in Hong Kong are exhibiting an increasing willingness to spend more in order to enhance their mobile entertainment experience by attaining better sound quality with better quality audio accessories,” said Walter Leung, Managing Director of GfK in Hong Kong. “Our findings reveal that some of the premium headphone and headset models which cost above US$500 have been enjoying good response from local consumers.”
Another notable market trend is the growing preference for products with the Bluetooth feature. Such wireless headphones and headsets reported a 23 percent spike in value contribution in the past year. Sales volume also grew by six percent to reach more than 126,000 units, accounting for 14 percent of all headphones and headsets sold.
Meanwhile, the US$5.5 million Bluetooth mini-speaker market in Hong Kong recorded a tremendous threefold (200 percent) growth in sales volume and 97 percent in value. Over 68,000 of such devices were snapped up, translating to over nine in ten (92 percent) of the total market.
“The ease and convenience of Bluetooth technology is definitely welcomed by today’s high tech users,” said Leung. “With some of our daily lives already so cluttered and hectic, being able to simplify processes and do away with the need for wires and cables are much appreciated by consumers.”