Nearly half of businesses say China is a target market for expansion: report

Other destinations include Canada and Australia.

Businesses may have turned to e-commerce for selling their goods but some are still eager to grow their physical presence, with 45% who said they want to expand in China, an Adyen report showed.

The study also indicated that Hong Kong businesses are grappling with the inflation impacts the most than other markets in the Asia Pacific region. Almost 60% said they must offer discounts to consumers year-round due to inflation, higher than the APAC average of 45%.

Hong Kong shoppers confirmed shifts in their purchasing behaviour due to the rising cost of living, with more than a third saying they spend more time searching for online deals and waiting for sales days before buying a product.

Adyen commissioned Opinium LLP to poll 36,000 consumers and Censuswide to poll 12,000 businesses globally, including 1,000 consumers in Hong Kong and 521 Hong Kong businesses.

Also Read

Lifestyle International opens The Twins Tower I in Kai Tak

Shop spaces at 2/F The Galleria up for sale for $50m

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit