Hong Kong businesses are well placed to make good on the government’s budget commitment to step up e-commerce trade with the ASEAN bloc, according to new research from the Hong Kong Trade Development Council (HKTDC). In particular, the findings show that the extension of the E-Commerce Easy initiative may be of huge benefit to Hong Kong’s small and medium-sized enterprises (SMEs).Titled ASEAN eCommerce opportunities: Insights on Consumer Behaviours and Positioning of Hong Kong Products, the research shows that Hong Kong brands and products are already particularly valued in six key ASEAN markets – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam – with every indication that this positive perception will lead to significant growth in future trade.
Previewed today, the full report will be released on 19 March during a dedicated session at this year’s HKTDC MarketingPulse and eTailingPulse events at the Hong Kong Convention and Exhibition Centre.
HK electronic, fashion, cosmetic products popular in ASEAN
Among the key findings of the research is the high level of popularity Hong Kong brands and products enjoy among ASEAN-6 e-consumers. In fact, some 70% of online shoppers within the six-nation grouping indicated they had bought at least one Hong Kong-sourced product within the past 12 months.
This preference was particularly pronounced among younger consumers, with the 18-29-year-old demographic indicating the highest regard for goods of Hong Kong origin.
In terms of the factors behind the appeal of Hong Kong brands and products for ASEAN consumers, the research identified three primary reasons. Firstly – and most compellingly – some 35% of respondents perceived Hong Kong-sourced goods as less costly and better value for money than those from other sources.
Secondly, a significant proportion of respondents (33%) stated that they particularly valued Hong Kong-sourced items for the way they seamlessly and successfully blended Asian and Western elements. A further 32% indicated that the stylish nature of the online inventory of Hong Kong-sourced items was the attribute they valued most highly.
In terms of Hong Kong e-commerce categories with the highest level of appeal for ASEAN-6 purchasers, consumer electronic items topped the list, winning favour with 70% of respondents. Taking the number-two spot was Hong Kong-sourced fashion items (38%), while coming a close third was the city’s online range of cosmetic/personal care products (34%).
Singaporean, Thai and Malaysian e-shoppers spend the most
The survey also found e-shoppers from Singapore, Thailand and Malaysia spent the most per purchase on Hong Kong goods. Take Hong Kong-sourced consumer electronics as an example, Singapore e-shoppers on average spent US$371 per purchase, followed by those in Thailand (US$276).
In terms of individual ASEAN markets, it was Thailand that showed the greatest partiality to Hong Kong e-commerce items, with 81% of the relevant survey respondents having purchased such an item within the past 12 months.
In second place was Indonesia, with 73% of respondents having ordered a Hong Kong item online within the last year. Slightly below this, in third place, was the Philippines, with 69% of the country’s respondents having made a related purchase over the past 12 months.
In terms of age demographics, respondents aged 30-49 had the highest average spending per purchase.
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