The Top 3 E-commerce Platforms in Hong Kong
by: The Beat Asia
July 05, 2022
In the Digital 2022 Global Overview Report (January 2022) v05, a survey conducted by market research data analyst GWI found that 58.4% of internet users (aged 16 to 64) worldwide have bought a product or service online each week.
In Hong Kong alone, a more in-depth report shows that about 52.4% of the population do the same. It also revealed that users do their grocery (23.7%) and second-hand shopping (14.1%) via an online store weekly.
Published in partnership with Hootsuite and We Are Social, the report shows the significant changes in the buying habits of consumers since the pandemic started.
If you want to grow your business further, strengthening your online presence — with the right website, that is — may be the key to skyrocket your sales in the ever-growing online marketplace. Here are the top e-commerce platforms in Hong Kong you should consider:
Launched in 2003 by the Alibaba Group, Taobao Marketplace is the largest consumer-to-consumer (C2C) shopping destination in China and its neighbouring cities. While the website has been battling with counterfeit problems due to the billions of products it offers, Alibaba Founder and CEO Jack Ma said in a speech that it has more than 2,000 full-time workers whose job is to mainly check for fakes. At present, it’s leaning on highlighting passionate merchants who want to make a name with their creations.
Taobao has become a gateway for startups and small businesses, particularly those owned by millennials and Gen Z, to grow their venture. “The trend we are observing is that for the younger generation, Taobao has become a platform that they identify with [where they] can pursue their dreams,” Alibaba Chief Marketing Officer Chris Tung said.
It also became the lifeline of many people struggling to make ends meet when the COVID-19 pandemic started as creating a seller account is easier than other e-commerce websites. According to Semrush, it's the 13th most visited website in Hong Kong.
Formerly Taobao Mall, Tmall was launched by the Alibaba Group in 2008 as a spin-off of their own online shopping platform — Taobao. It focuses on providing upscale goods, including products from international and high-end brands, that are generally not available at traditional outlets.
Unlike Taobao, Tmall is business-to-consumer (B2C) and business-to-business (B2B)-based. It has grown tremendously with a good reputation over the years so the requirements to sell are getting stricter, but it’s a good choice for businesses with a long-term mindset. As of 2018, it has more than 500 million monthly active users and 7.9 million average visits in Q4 alone.
Founded in 1998, JD (also known as Jingdong) is one of the largest online retailers in China. The company is a Fortune Global 500 member and is known to be the biggest competitor of Tmall. What sets this e-commerce apart is it has its own inventories, warehouses, and in-house logistics, making same- and next-day deliveries possible even during the onset of the pandemic.
Depending on the market you want to reach, you can choose JD.com (for local merchants) or JD.hk (for cross-border merchants). While the company has a strong focus on electronic devices, it has started to venture into fresh grocery delivery, fashion, and many other markets.
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