The August event will promote local brands on Chinese platforms like Taobao amid weak economic sentiment.
The inaugural Hong Kong Shopping Festival was officiated by AUSupreme International Holdings founder, chairman and CEO Leslie Choy; Hong Kong Trade Development Council assistant executive director Stephen Liang; celebrity Kenneth Ma and Taikoo Sugar general manager Melody Keung.
Participating brands include big names such as jeweller Chow Tai Fook, beauty retailer Sasa and sauce manufacturer Lee Kum Kee, as well as smaller enterprises such as pastry maker Kee Wah Bakery and health supplements firm Catalo. China’s online shopping festivals typically offer major price cuts on big-brand items, limited-time discounts and generous return policies, and rope in celebrities to tout the products.
The campaign is aimed at tapping Chinese consumers’ spending power by taking Hong Kong products directly to the mainland market amid the city’s continually falling retail sales.Financial Secretary Paul Chan said: “The brand of ‘Hong Kong’ has always been renowned for its high quality... this festival could help different Hong Kong products tap the mainland market more extensively and make Hong Kong brands shine.
In mainland China, online sales rose by 11 per cent to 15.4 trillion yuan in 2023 compared with in 2022, official data showed.In 2023, for the third consecutive year, Alibaba and JD.com, which own China’s two biggest e-commerce platforms, kept mum on the total value of goods sold during their mega online shopping festival, despite having previously released such data.
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