Retailers are accelerating their expansion in online shopping in Hong Kong. Online shopping in Hong Kong and has now become a vital part of local consumers online purchasing habits, at least one purchase online is made in the last three months, according to a Mastercard Online Shopping Survey in April this year.
HKTV (01137)’s online shopping mall HKTVmall completed merger with group buying dealer GROUPON HONG KONG for US $670,000 in February and announced today that GROUPON Hong Kong has a new brand identity “HoKoBuy by GROUPON” to expand its online retailing market in Hong Kong.
Back in June 2010, GROUPON, Inc. (GRPN) acquired a local group-buy company uBuyiBuy to launch its business in Hong Kong under the brand GROUPON HONG KONG as a part of the group expansion in 46 countries and over 500 markets. However, the group has been suffering decline in sales since it opened for trade on Nasdaq in November 2011 due to severe competition. The group has closed off or liquidate its businesses in 20 regions such as South Africa, Sweden, etc.
HKTVmall and HoKoBuy are running on 2 online platforms. HoKoBuy is under management of Groupon Hong Kong for up to 12 month after the acquisition. Investors are waiting for HKTVmall to integrate the current sales of Groupon Hong Kong and to enhance income, while customers are concerned about the quality of goods.
Alibaba Group had officially launched its online shopping mall Tmall in Hong Kong a week earlier, to sell selected mainland China products mainly daily necessities direct to Hong Kong shoppers.
With a Tmall Hong Kong warehouse in Shenzhen, Tmall customers will receive the products from mainland China directly. while HKTVmall and Groupon are utilizing their logistic hubs in Hong Kong to deliver the products to shoppers.
- Alibaba’s Tmall expands in Hong Kong and Southeast Asia to non-Chinese speaking consumers, SCMP
- 港視收購Groupon旗下電子商貿公司 作價521萬元, 香港01