Hong Kongers are no strangers to eCommerce channels as online shopping becomes the norm. According to a recent GroupM study, online shopping platforms or apps, retailers’ websites or apps, and fast grocery shopping platforms or apps, were the top three eCommerce channels used by Hongkongers, while they were willing to use these platforms to shop in the future .
The study “A Positive Outlook Towards Consumer Spending in Hong Kong” has unveiled eight eCommerce channels used by Hong Kongers. Given the popularity of online shopping platforms or apps, they gained the top spot (72%) among Hong Kong customers, followed by retailers’ websites or apps (42%). Moreover, the emerging importance of fast grocery shopping platforms, with 37% of respondents saying that they had used them before and 42% saying they will use them in the future, and brands’ websites or apps (27% had used, 39% will use), should not be neglected as they could provide opportunities for marketers.
Brands’ websites or apps and consumer-to-consumer online marketplace ranked fourth and fifth in the study.
Fast grocery shopping platforms were most used by gen Y (46% used, 47% will use), but there was potential among gen Z (30% used, 42% will use) and gen X (36% used, 43% will use ).
According to the Hong Kong government’s latest figure, of the total retail sales value in March 2022, provisionally estimated at HK $ 23.8 billion, online sales accounted for 11.7%. The value of online retail sales in that month, provisionally estimated at HK $ 2.8 billion, increased by 30.9% compared with the same month in 2021. The revised estimate of the combined value of online retail sales in January and February 2022 increased by 39% compared with the same period a year earlier. For the first quarter of 2022, it was provisionally estimated that the value of online retail sales increased by 36.3% compared with the same period in 2021.
GroupM’s study also examined Hong Kong consumers’ sentiment about the city’s economy. Around 54% of Hong Kong consumers showed negative sentiment about the current economic conditions, with only 11% saying they were positive. However, they were more positive about the economy in the upcoming three to six months (17%), with only 41% feeling pessimistic. Nevertheless, such negative perceptions did not apply to personal finances where fewer consumers (22%) were pessimistic and the amount of optimism was slightly higher too (24%).
Lastly, the study also said when it comes to the recent disbursement of the consumption vouchers, respondents said they would spend the consumption vouchers on grocery shopping (67%), dining out (55%), tech gadgets (34%), personal care products (33%) and mass fashion and accessories (24%).
Moving forward, the government said in addition to the existing four stored value facility operators, including Octopus, Tap & Go, Alipay HK and WeChat Pay HK, BoC Pay and PayMe from HSBC had been selected to assist in implementing the next phase of consumption voucher scheme.
Financial Secretary Paul Chan said, “I have requested all the participating operators to assist those small business operators and sectors severely affected by the pandemic through rebates and promotional activities to benefit consumers and the relevant merchants. The operators will announce the details in due course. “
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