Even when looking for the best products from luxury brands, you always want to make sure that you get the best deals possible. In the search for the best deals, you will be directed to Hong Kong, a place where every shopper swears to give you the best deals on the best of luxury brands.
In this article, we take a look at the Hong Kong luxury brands market and whether the products sold there are really cheaper than the rest of the world markets or not.
So, let’s jump right into things!
Are luxury brands cheaper in Hong Kong?
Yes, luxury brands and luxury goods are cheaper in Hong Kong than in the rest of the region and also the rest of the world.
But there is a catch, and you will only find these great high-end goods at great prices during the sale seasons, especially if you are looking for products from brands like MiuMiu and Chanel, among all other big brands.
What this means is that you can only score these big deals by shopping not just in the December to January sales but also between September and November.
Why are luxury brands cheaper in Hong Kong?
Besides taking advantage of sales for the best deals on luxury brands, the luxury brands are generally cheaper in Hong Kong because of a number of other reasons.
Duty-Free Import Policy – Hong Kong boasts a duty-free import policy that works great for expats. This policy makes Hong Kong a great shopping spot for foreign-made products, which is the reason for the lower prices for luxury brands made in other parts of the world. And with a huge array of shopping areas to buy from, the prices of luxury goods remain quite low compared to the rest of the world.
In some cases, the cost of luxury goods can be quite low and even comparable to the cost of the goods made in China.
Lower Tariffs – while some may argue that Hong Kong doesn’t offer the best deals as it used to a few years back, policy changes that took place in 2015 for specific products saw a significant drop in some of the luxury brands, including the ones dealing in cosmetics and skincare products, shoes, as well as men’s and women’s suits, as well as furs and other types of outerwear.
That said, it’s important to note that you have to be extra cautious when shopping in Hong Kong because China is flooded with fake luxury goods, and what looks like the best deal may be the biggest fake purchase you ever make.
The other thing to note is that there are many times when the luxury goods/ brands in Hong Kong aren’t particularly as cheap as you’d hoped. But because of the large number of these luxury brands in many malls across Hong Kong, the competition around makes Hong Kong the perfect place to shop the luxury goods from. To ensure that your purchase made in Hong Kong is better than what you get elsewhere, research and compare prices online – the luxury brands have online stores that have websites specific to different countries, which means that you can compare prices easily before shopping from Hong Kong.
What are luxury brands cheaper in Hong Kong?
While some people no longer consider Hong Kong the best place for best buys, especially on the luxury brands front, you could still score a good bargain in these luxury brands if you shop from their Hong Kong stores.
The top luxury brands you could score good bargains from are as follows:
- Salvatore Ferragamo
That said, it’s important to keep in mind that where you shop is just as important or maybe even more important than what you buy or how big of a discount you access. Shopping from some malls guarantees better deals than others.
To score the best deals, here are some of the important considerations to bear in mind:
- Always shop from the reputable stores
- Shop during the sales months December-January, or September – November. And always check out the sales details in advance
- Consider the store’s return policies, and double-check the products before taking them away.
- To avoid fakes, research more on the brand you are interested in, and learn how to spot the differences between authentic and fake goods.
If you are planning to shop in Hong Kong, there is a fat chance that you will get a nice deal on luxury brands shopping from this part of the world. However, you must follow the tips above and also keep an open mind, and be cautious. In the past, you’d find really good deals, but that might not be the case today.
So, be on the lookout for deals, and beware of the fact that there are fakes on the Chinese market, and you could be duped easily. Therefore, you have to be extra careful, even when buying from the big stores. Know what you are buying before you buy it, and always compare prices.
Finally, some luxury brands may be cheaper if bought from the countries they are made from, especially the top European luxury brands.