New consumer tech launches fail to gain ground in Hong Kong

Ownership of wearable tech only stands at a dismal 9%.

It seems that the Hong Kong market is tough one to crack as a survey from Ipsos Hong Kong reveals that residents are not jumping in on the latest trends to grip the consumer tech market as even traditional technologies like cameras, smartphones and tablets are on a steady decline.

For instance, ownership of wearables stands only at 9% as only a dismal 7.4% of consumers are considering buying a wearable tech over the coming year.

The situation remains the same for purchases of sports cameras as only 4.4% of the population are considering acquiring one in the next 12 months.

Similarly, flying camera drones are owned by only 3% of the Hong Kong population, although 4.4% also consider buying one.

The report also revealed an interesting trend - the age demographic of 55-64 and retired people in Hong Kong spend the most on consumer electronics. This goes against the common belief that millennial age group lead in digital adoption of latest technologies.

In terms of gender, men still spend more (48%) on consumer electronics than women in the past year - apart from the electronic beauty devices category.

The Ipsos Media Atlas Hong Kong study monitors the media consumption, attitudes and lifestyles of Hong Kong consumers.