Hong Kong’s appeal to mainland China’s first-tier city luxury consumers declined by 5%, while its attractiveness surged 20% among third-tier city dwellers, reaching 88%, according to an MDRi survey of 2,000 respondents. Overall, 82% of mainland high-end shoppers still see Hong Kong as a luxury hub, but 59% from top-tier cities believe Hong Kong no longer surpasses Asia or China in luxury experiences. Many cite fewer worthwhile collections and limited new brands. Mainland and Hong Kong services received equal satisfaction ratings (97%), though mainland satisfaction rose more sharply. MDRi suggests Hong Kong’s luxury sector can rebound if retailers invest in enhancing experiences. Mainland luxury spending jumped 7% year-on-year, while Hong Kong’s rose only 3%.