42% of the respondents shared the sentiment that e-commerce was helping them through the current crisis.
People in Hong Kong have a growing appetite for online shopping and greater expectations of easier payment options, as 42% are shopping more online during the pandemic, according to a report by payments platform Adyen.
47% of the respondents said they will continue to shop online more than they did before the pandemic. This was especially true among the younger generation aged between 18-34.
At the same time, 50% used shopping apps more during the pandemic than they did previously, and 32% said they frequently make purchases via social media channels.
Hongkongers also like an integrated online-to-offline shopping experience, with 76% saying they prefer to pay with an in-store app. 38% of Hongkongers reported leaving a store without buying items because the retailer would not let them pay how they prefer to.
According to the report, Hong Kongers’ growing preference for doing transactions digitally is echoed in the growth of virtual banks in the city.
“After launching services early last year, Hong Kong’s eight virtual banks have already attracted 420,000 customers, accumulating $15b worth of deposits, according to the Hong Kong Monetary Authority,” it said.
Retailers are now tasked to keep up with the trend and use the right technology in helping their customers navigate their offerings.
Do you know more about this story? Contact us anonymously through this link.