I buy French wine, ex-Chateau stock of good vintages, for around the same money I pay in France. I don't buy in supermarkets though; there are several online retailers who provide an excellent service. The good ones don't have minimum purchase requirements, although there will be a delivery charge for small quantities. I bought a mixed case last week of 2009/2010 delivered free with an average price of $130 a bottle. One of the bottles I bought a case of in France a couple of months ago and it cost more there. Grand Cru / Premier Cru wines are also not priced over-the-top compared to Europe, if you know where to look.
As with most things in HK, there will always be cheaper ways. It all depends if you have the time, energy or inclination to search them out. The numerous online expat food outlets can prove cheaper than the supermarkets.
One thing I have noticed is the M&S fresh vege are a reasonable price compared to the expat supermarkets. Sure you can get super cheap in the wet markets, but it all depends on your family's preferences re the origin of their food. We are happy paying more for Australian or European, and there is a good selection of ethically farmed meat and eggs, and fresh, healthy fruit and vege. We don't do organic though so no idea on the going rate for inflated marketing hype.