,Hong Kong

How Hong Kongers plan to spend their $5,000 vouchers?

A survey found most respondents will spend It on groceries.

The $5,000 worth of e-consumption vouchers are expected to be distributed amongst Hong Kongers this August. The vouchers are expected to stimulate economic growth by encouraging residents to spend, but which sectors are likely to benefit most from the voucher scheme?

In Kantar’s recent report, it was found that most Hong Kongers plan to use the vouchers in the supermarket or for their daily groceries.

This is followed by electronic products and home appliances, dining services, transportation, and fashion and shoes.

Travel and tourism, as well as luxury goods, are the less common choices.

Moreover, 59% of the respondents said they are willing to add up to $2,999 of their own funds to purchase desired products that cost more than $5,000; whilst 24% said they will not top up the vouchers with their own fund.

Six out of 10 of the respondents plan to spend their vouchers offline whilst 41% said they will use them for online shopping.

The most preferred spending provider amongst the respondents is Octopus (53%), followed by AlipayHK (27%), WeChat Pay HK (11%), and Tap & Go (9%).

“This latest data reflects an immediate opportunity for consumer spending that will positively impact many local businesses in the coming months. But thinking more mid-long term, perhaps more importantly it is reflective of a shift in consumer behaviour when it comes to preferred payment methods,” Jeff Tsui, managing director of Greater China, Kantar Profiles Division, said.

The study, conducted by Kantar’s LifePoints panel, surveyed 869 respondents between 30th June and 7th July.

Join Hong Kong Business community
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!

These five countries have Omricon cases.
The initiatives include accelerating net-zero electricity generation.
InnoClub will provide solutions in three focus areas.
The airline’s cargo yield is also expected to be 2% higher h-o-h in 2H21.
The country received a 9.23 score out of 10.
HK costs are the 9th most expensive in the Asia Pacific.
Employees with digital transformation-related jobs are most likely to benefit.
A government spokesman attributed the increase to entrenched economic recovery.
Carousell said 85% of its HK users have made secondhand purchases in the past.
Expansion plans were greatly expressed by companies from the industrial goods sector.
Winners were recognised via digital presentations held on the 24ᵗʰ and 25ᵗʰ of November.
The Gaw Capital Partners-led consortium will use the loan for the acquisition of office buildings.
The report said about 10.4% of locals are planning to own NFTs in the future.