Hong Kong government celebrates e-commerce shopping festival
Pet care retailers participated in the event to enhance their penetration into Mainland China, the world’s largest e-commerce market.
The month-long Hong Kong Shopping Festival, which ended on 31 August, aimed to boost online sales for small and medium enterprises (SMEs) and strengthen local brands’ presence in Mainland China.
Organized by the Hong Kong Trade Development Council (HKTDC), the event showcased over 230 brands in categories like clothing, cosmetics, household goods, food, digital products, health and pet care.
“Establishing a presence in China, the world’s largest e-commerce market, is crucial for sustaining business growth and development,” a HKTDC spokesperson tells GlobalPETS.
Official figures show that online sales in Hong Kong grew nearly 60% between 2020 and 2023, reaching $4.2 billion (€37.M).
An industry with potential
The emphasis on pet suppliers was driven by “the rapid expansion of Mainland China’s pet care market,” a spokesperson confirms, adding that this growth offers significant opportunities for businesses in the sector.
Euromonitor International estimates that China will lead sales in the Asia Pacific region in 2024, while Hong Kongers spend the most per pet, averaging $1,100 (€1,000) annually.
In July 2024, the Hong Kong government introduced “E-commerce Easy,” an initiative under its Branding, Upgrading and Domestic Sales (BUD) Fund to support local e-commerce retailers. It allocated $1 million (€903,138) to help businesses set up online stores, increase ads, enhance mobile apps and integrate online payment systems.
Secretary for Commerce and Economic Development Algernon Yau says the fund would help enterprises explore the mainland domestic market.
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