Inaugural Hong Kong Shopping Festival ends successfully

HONG KONG, Sept 9, 2024 - (ACN Newswire) - The Hong Kong Shopping Festival, organised by the Hong Kong Trade Development Council (HKTDC) and fully supported by the Government of the Hong Kong Special Administrative Region (HKSAR), concluded successfully in late August, helping local small and medium-sized enterprises (SMEs) increase brand awareness and gain practical experience in expanding into the mainland market via e-commerce channels. The event received an enthusiastic response, with more than 90 million impressions on e-commerce discussion forums and official website.

Algernon Yau, Secretary for Commerce and Economic Development of the HKSAR Government, said: "The global e-commerce market continues to grow rapidly. In particular, the mainland has been the leading online retail market for 11 consecutive years, becoming an engine of growth for Hong Kong SMEs to expand their businesses. The HKSAR Government put forward a number of initiatives in the 2023 Policy Address to encourage and assist local SMEs in developing e-commerce businesses and seizing market opportunities. We are delighted that the inaugural Hong Kong Shopping Festival was well received and gained the robust support of local businesses, motivating more SMEs to participate in e-commerce businesses. The Government will continue to support SMEs through various measures, including the SME Export Marketing Fund and ‘E-commerce Easy’, so as to encourage SMEs to upgrade and restructure their operations and develop e-commerce businesses, thereby promoting the development of new quality productive forces.”

Stephen Liang, Assistant Executive Director of the HKTDC, said: “The inaugural Hong Kong Shopping Festival has concluded after a successful one-month run, providing local SMEs with a practical platform to master the art of e-commerce.  The event has also significantly enhanced SMEs’ brand awareness, building a solid foundation for their future development in the mainland e-commerce market. Following the event, many SMEs have expressed interest in participating in future Hong Kong Shopping Festivals, demonstrating their strong interest in the e-commerce sector and willingness to tap into the enormous potential of the mainland market. This positive response has given us the impetus to organise the event again next year.”

Throughout August, the HKTDC, led by Paul Chan, Financial Secretary of the HKSAR Government, collaborated with celebrities and influencers to promote the Hong Kong Shopping Festival through various strategically planned digital marketing channels, including Xiaohongshu, Douyin, Taobao, JD and others, boosting visits to the official website and, in turn, to the SMEs’ own online stores.

Understanding live-streaming and other techniques in mainland market

During the festival, several SMEs kickstarted live-streaming e-commerce in the mainland market, including Markwill Solutions Limited, the exclusive distributor of Gold Energy Snail Synergy, a Korean skincare and cosmetic brand, in Hong Kong. The company applied to run promotions on JD as the starting point. “The procedures were slightly complex, but luckily the HKTDC was on hand to help,” said Markwill Solutions Manager Man Leung.

As a beginner in the mainland e-commerce field, Mr Leung watched numerous live-streaming sessions to explore the broadcast style of KOLs, learn the industry jargon and understand the discount strategies in the mainland market. He found out that while the popular term in Hong Kong is “buy 2 get 1 free”, the mainland market uses terms such as “expected paid price”, which was completely new to him. He also became aware that a key factor in driving sales of skincare and cosmetic products is the location of consumers.

“The weather in the southern, middle and northern regions [of Mainland China] is different, as is the people’s need for cosmetics,” Mr Leung said. He also noticed that the KOLs who partnered with the brand were all from the northern regions, while customers were mainly from the northern and central regions. This made him realise the importance of the company conducting more research into how regional and seasonal factors could influence the shopping desires of customers.

Cross International Limited runs First Edible Nest, which sells dried seafood. The company had already begun exploring e-commerce, hiring KOLs to conduct live-streaming sessions in the mainland market since the pandemic in 2020. However, owing to its limited budget, the company found it hard to invite renowned KOLs to work with them. “This time, the HKTDC was able to connect us with top-tier KOLs,” said Manager Eddy Lo. During the festival period, six live-streaming sessions on Tmall and Douyin were conducted. “Two of the sessions on Tmall were excellent, generating RMB300,000 in revenue. I was pleased with the sales figures.”  

Kiu Fung Hong Limited, which sells food products such as potato chips, also achieved encouraging sales figures during the Hong Kong Shopping Festival. CEO Ellis Wong said the company had been selling its products on JD. When it came to the Hong Kong Shopping Festival in August, “comparing our average monthly orders from January to July, the August orders soared by 135 times,” he said. This demonstrates the effectiveness of the promotions run during the festival and Mr Wong said he hoped the event could be held regularly to continue the momentum. He encouraged other SMEs to participate in the next Hong Kong Shopping Festival to gain experience in how to develop the mainland market via e-commerce channels.

Promotion boost online impressions, influencers showcase Hong Kong

The Hong Kong Shopping Festival promoted online-offline integration with 10 million impressions on the Xiaohongshu platform. The Hong Kong Shopping Festival partnered with a diverse group of celebrities and influencers for engaging promotional activities, with the likes of Moses Chan, Grace Chan, Kenneth Ma and Hu Ke adding vibrancy to the event. In addition, more than 30 renowned mainland KOLs, including Li Jiaqi and Chen Jie Kiki, conducted over 30 live-streaming e-commerce sessions on three major platforms, endorsing over 60 brands by planting seeds to boost brand awareness. Influencers also showcased Hong Kong's cultural customs, distinctive foods and urban landscapes through offline city walks, drawing significant interest and generating discussions. Food and health supplement products garnered particular attention during the promotional campaign, reflecting the strong confidence of mainland consumers in the reputation and quality assurance of Hong Kong goods.

The Hong Kong Shopping Festival aligns with a measure in the 2023 Policy Address to assist Hong Kong's SMEs in expanding into the Mainland China market via e-commerce channels with the slogan “Unveiling a New Lifestyle, Curated by Hong Kong". “Unveiling a New Lifestyle” refers to launching new products in the market and the aspiration to enrich people's lives through these products. “Curated by Hong Kong”, meanwhile, reflects the meticulously selected quality products from Hong Kong that are being made available to mainland consumers.

The first Hong Kong Shopping Festival gathered more than 230 brands, showcasing 500 products and exclusive discounts in six major categories: apparel and accessories, personal care and cosmetics, home and living, classic food, smart gadgets and health supplements. The event not only helped Hong Kong’s SMEs leverage the customer base and traffic on mainland e-commerce platforms and increase brand awareness, but also helped them gain practical experience in how to expand into the huge mainland e-commerce market.

Hong Kong Shopping Festival Website: https://bit.ly/4fR29cl

Photo download: https://bit.ly/4dUZvBd

Media enquiries

Yuan Tung Financial Relations:
Agnes Yiu               Tel: (852) 3428 5690      Email: ayiu@yuantung.com.hk
Tiffany Leung           Tel: (852) 3428 2361      Email: tleung@yuantung.com.hk

HKTDC’s Communications & Public Affairs Department:
Katy Wong               Tel: (852) 2584 4524      Email: katy.ky.wong@hktdc.org
Sunny Ng                Tel: (852) 2584 4357      Email: sunny.sl.ng@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.